WAEC Accounting 2023 Objective — Question 49
Question 49 of 50 from the West African Examinations Council (WAEC) Accounting 2023 Objective paper, with the correct answer and a full explanation.
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The total interest on drawings to be charged to profit and loss appropriation account is
- A. GH¢ 1,920.Correct
- B. GH¢ 1,120.
- C. GH¢ 800.
- D. GH¢ 700.
Explanation
Total interest on drawings = Ant's interest (1,120) + Bee's interest (8% × 10,000 = 800) = GH¢1,920.
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