WAEC Accounting 2025 Theory — Question 13
Question 13 of 15 from the West African Examinations Council (WAEC) Accounting 2025 Theory paper, with the correct answer and a full explanation.
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8(a) PQ Limited - Purchase of Business Account (takeover of XY Enterprises, 30 June 2023)
Model answer
Debit side | N | Credit side | N Purchase consideration | 1125000 | Premises | 375000 Equipment | 225000 Furniture | 45000 Stock | 240000 Debtors | 135000 Loss from purchase of business | 105000 Total | 1125000 | Total | 1125000
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