Question

Section B - 6(c) Compute the revenue for the Regions/States collectively and individually for year 2021 (Population: A 40,000/400,000; B 350,000; C 250,000; D 100,000; E 300,000; F 200,000 - total population 1,600,000; note the region population figures used in the official computation total 1,600,000).

Accepted Answer

Collectively: 60% × $1,436,000,000 = $861,600,000.

Individually (Region's population / Total population × $861,600,000):
Region A: 400,000/1,600,000 × 861,600,000 = $215,400,000
Region B: 350,000/1,600,000 × 861,600,000 = $188,475,000
Region C: 250,000/1,600,000 × 861,600,000 = $134,625,000
Region D: 100,000/1,600,000 × 861,600,000 = $53,850,000
Region E: 300,000/1,600,000 × 861,600,000 = $161,550,000
Region F: 200,000/1,600,000 × 861,600,000 = $107,700,000
Total = $861,600,000.

WAEC Accounting 2023 Theory — Question 17

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