Financial Accounting WASSCE (PC), 2016

Section B:  Financial Accounting Practice

Question 6

 

    Candidates were required to prepare the

    (i)         Statement of Affairs as at 31st December, 2014;
    (ii)        Income and Expenditure Account for the year ended 31st December 2015.

 

Observation

Majority of the candidates attempted this question and the performance was good.Some of the candidates were unable to group the itemscorrectly while few of them wrongly posted some of the items under income on debit side and the items under expenditure were posted on the credit side.