Financial Accounting WASSCE (SC), 2017

Section B: Financial Accounting Practice

 

Question 7

     

     

    In this question, candidates were required to prepare:

  1. Statement of Affairs;
  2. Income Statement;
  3. Bank Account.
  4.  

     

Observation

Majority of the candidates that attempted the question performed below average.  Few candidates muddled up the posting of items in the income statement and could not deduce accurate figures for the Statement of Affairs and the Bank Account.