Financial Accounting WASSCE (PC 2ND), 2022

Section B: Financial Accounting Practice

 

 

 

Question 5:

In this question, candidates were required to:
(a)        Prepare Balance Sheet;
(b)        Calculate the following:
(i)         Current ratio;
(ii)        Acid test ratio;
(iii)      Working capital.

 

 

               

Observation

 

 

Majority of the candidates attempted the question and the performance was quite impressive. The expectation from candidates was to use formulas to calculate the accounting ratios but some candidates lost valuable mark in mix-up of formulas.