Section B: Financial Accounting Practice
Question 6
In this question, candidates were required to prepare:
(a) Statement of affairs;
(b) Subscriptions Account;
(c) Income and Expenditure Account.
Observation
Majority of the candidates attempted this question. The performance poor as they could not post correctly items into the various account.. Candidates were able to group the item correctly while few of them mis-posted items under factory overhead to Profit and Loss Account.