Financial Accounting WASSCE (PC 2ND), 2020

Section B: Financial Accounting Practice

 

 

     

               

    Question 6:

                (a) Calculate the goodwill on the purchase of Ubah Enterprises;
    (b)        Prepare in the books of Okere Ltd:
    (i)         Purchase of Business Account;
    (ii)        Ubah Enterprises Account.

Observation

 

Comment
Most candidates attempted this question and the performance was good. Candidates’ performance portrays a good understanding of the topic. However, some candidates’ weakness were expressed in the preparation of purchase of business account and Ubah’s enterprises account in the purchaser’s (Okere Ltd) books.