BKEEPING FORM FOUR REGIONAL EXAMS (MOCK, PRE-NATIONAL, etc.)

 TANZANIA HEADS OF ISLAMIC SCHOOLS COUNCIL

 FORM FOUR INTER ISLAMIC MOCK EXAMINATION

062 BOOK KEEPING

(For Both School and Private Candidates)

Time: 3 Hours Tuesday, 13th September 2022 a.m. 

Instructions

  1. This paper consists of sections A, B and C with a total of nine (9) questions.
  2. Answer all questions in sections A and B, and two (2) questions from section C.
  3. Non programmable calculator may be used.
  4. Cellular phones and any unauthorized materials are not allowed in the examination room.
  5. Write Your Examination Number on every page of your answer booklet(s). 

SECTION A (20 Marks)

Answer all questions in this section

1. For each of the items (i) – (xv) choose the correct answer from the alternatives and write its letter beside the item number in the answer booklet(s) provided.

(i) Muzuli is considering selling goods on credit to Mulunji but before the exchange, Muzuli was looking for Mulunji’s financial statements. Why does Muzuli look for Mulunji’s financial statement?

  1. To calculate Mulunji’s trade payable period
  2. To find out how much Mulunji has spent on non-current assets
  3. To know how much capital Mulunji had invested in his business
  4. To seek if Mulunji experiences a high level of bad debts
  5. To find out how much Mulunji has received from his trade receivable.

(ii) An insurance account shows an amount paid during the year TZS 200,000/= and prepayment at the end of the year TZS 40,000/=. Which amount appears in the insurance account to record the transfer to the Income statement?

  1. Credit entry of TZS 160,000/-
  2. Credit entry of TZS 240,000/-
  3. Debit entry of TZS 160,000/-
  4. Debit entry of TZS 240,000/-
  5. Both debit and credit entries of TZS 160,000/-

(iii) You are to buy an existing business which has assets valued at: Building TZS 50,000/- motor vehicle TZS 15,000/- fixture TZS 5,000/- and Inventory TZS 40,000/-

You are to pay TZS 140,000/- for the business. This means that:

  1. You are paying TZS 40,000 for Goodwill
  2. Buildings are costing you TZS 30,000/- more than their value
  3. You are paying TZS 30,000/- for Goodwill
  4. You have made an arithmetical mistake
  5. You are paying TZS 140,000/- for Goodwill.

(iv) Naomi a sole trader owns business premises near Ubungo Plaza. Which among the following expenditures she has to consider as revenue expenditure on premises?

  1. Legal fees for purchases of premises
  2. Purchases of premises
  3. Re-painting of premises
  4. Extension of premises
  5. Selling of premises.

(v) Given figures showing: Sales 8200/= opening inventory 1300/=, closing inventory 900/= purchases 6400/= carriage on purchase 200/= the cost of goods sold figure is:

  1. TZS 6,800/=
  2. TZS 6,200/=
  3. TZS 7,200/=
  4. TZS 8,600/=
  5. TZS 7,000/=.

(vi) Majumba pays his trade creditor by cheque. How does this affect a statement of financial position?

  1. Cash at bank and creditor increase
  2. Cash at bank decrease and creditors increases
  3. Creditors decrease and cash at bank increases
  4. Cash at bank and creditors decrease
  5. Creditors decrease and capital increases.

(vii) All statements below are true about Kazukamwe’s business whose records are incomplete except:

  1. Closing capital + Drawing – additional capital – Opening capital = Drawing
  2. Opening capital + Net profit – Drawing = Closing capital
  3. Assets + Liabilities = Capital
  4. Cash sales + credit sales = Total sales
  5. Business goods + Business cash used by the owner = Drawing.

(viii) Given a desired cash float of TZS 200,000 if TZS 146,000 is spent in the period, how much will be reimbursed at the end of period?

  1. TZS 200,000/=
  2. TZS 54,000/=
  3. TZS 245,000/=
  4. TZS 146,000/=
  5. TZS 346,000/=.

(ix) Given a purchases invoice showing five items of TZS 8000 each. Less trade discount of 25 percent and cash discount of 5 percent. If paid within the credit period. Your cheque would be made out for:

  1. TZS 28,500/=
  2. TZS 28,000/=
  3. TZS 26,000/=
  4. TZS 10,000/=
  5. TZS 30,000/=.

(x) What type of error is committed when an invoice of TZS 86,000/= is entered in the purchases journal as TZS 68,000/=?

  1. Error of original entry
  2. Error of principle
  3. Error of compensating
  4. Error of commission
  5. Error of omission.

(xi) A book keeper has just finished compiling a trial balance whose debits and credit columns have not agreed. Which of the following would provide a temporary shelter for the difference? 

  1. Control account
  2. Cash account
  3. Provision account
  4. Appropriation account
  5. Suspense account.

(xii) Given a factory raw material used amounted 4000/= manufacturing wages 1200/= and other direct expenses 400/= what would be the prime cost of the goods produced? 

  1. TZS 4400/=
  2. TZS 4800/=
  3. TZS 5600/=
  4. TZS 5200/=
  5. Non-above.

(xiii) Jamal sent to Jamila 10 gallons of cooking oil on consignment basis, one gallon costing 25000/=. Jamila will be considered as:

  1. Principal
  2. Consignee
  3. Seller
  4. Consignor
  5. Del-credere.

(xiv) Credit purchases of goods from Masha amounted 50,000/=. How would be recorded in the books.

  1. Dr Masha a/c and Cr purchases a/c
  2. Dr Goods a/c and Cr Masha a/c
  3. Dr Purchases a/c and Cr Masha a/c
  4. Dr Masha a/c and Cr Masha a/c
  5. Dr Purchases a/c and Cr cash a/c.

(xv) An authority granted by the Minister of Finance and planning to transfer approved funds from one vote to another.

  1. Vote
  2. Virement
  3. Voucher 
  4. Appropriation
  5. Grant.

2. Match the explanation of types of Audit in Column A with the correct type of Audit in Column B by writing the letter of the correct response beside the item number in the answer booklet(s) provided.

COLUMN A

COLUMN B

(i) An independent examination of the statement of financial position to verify its items.

(ii) Aims at detecting potential problems in the organization that affect its performance.

(iii) An independent examination of financial statements as required by stakeholder such as owners or any other parties.

(iv) An examination of procedures of an organization for reliability and accuracy.

(v) An audit that is conducted during the financial year as per the client’s requirement.

  1. Interim audit
  2. Management audit
  3. Balance sheet audit
  4. Statutory audit
  5. Internal audit
  6. Procedural audit
  7. Continuous audit
  8. Final audit
  9. Private audit

SECTION B (40 Marks)

Answer all questions in this section

3. Mr. Bungoma, an English language teacher at Kibohehe Secondary School seems to use the terms book-keeping and accounting interchangeably. Give four (4) points to explain to him on how you would help him on his problem.

4. Wakishua started business last week and bought goods from various suppliers. He is now planning to return some goods to some of his suppliers. What may be the possible reasons for this situation? (5 points)

5. The following details were extracted from the books of Munene sole trader for the month ended 31 March 2021:

Debit balances on the sales ledger at 1st March

TZS 632,000/=

Credit balance on the sale ledger at 1st March

TZS 11,000/=

Sales on credit for month

TZS 519,000/=

Sales returns

TZS 7,000/=

Cash received from debtors

TZS 467,000/=

Discount allowed

TZS 21,000/=

Refunds to customer (by cheque)

TZS 3,000/=

Sales ledger items settled by contra 

TZS 7,000/=

Balance extracted for the 31st March

Debit

TZS 644,000/=

Credit

TZS 3,000/=

Required:

From above information construct respective ledger and show the balances for next month.

6. The following is a summary of a cash book as presented by Shebila Co Ltd for the month of October

Cash book (Bank Column)


TZS 

 

TZS

Receipts

14690

Balance b/d

7610


Balance c/d
5540
Payment
12620


20230


20230

All receipts are banked and all payments are made by cheque. On investigation we discover the following:

(a) Bank charges of TZS 1360 entered on the bank statement have not been posted in the cash book.

(b) Cheque drawn amounting to TZS 2670 had not been posted and presented to the bank for payment.

(c) Cheque received totaling TZS 7620 had been entered in the cash book but not credited in the bank statement until 3rd November.

(d) A cheque for TZS 220 for sundries expenses had been entered in the cash book as receipt instead of payment.

(e) A cheque received from Kipangala for TZS 800/= had been returned by the bank and marked, “no funds available”

(f) A standing order for a business rates installment of TZS 1500/= on 30th October had not been entered in the cash book.

(g) All dividends received are credited directly to the bank account. During the month of October amount totaling TZS 420/= were credited by the bank but no entries were made in the cash book and also credit transfer of TZS 200/=.

(h) A cheque drawn for TZS 660/= for stationery had been incorrectly entered in the cash book as TZS 600/=.

(i) The balance brought forward in the cash book should have been TZS 7110/= not TZS 7610/=.

Required:

(i) Write updated cash book.

(ii) Prepare a bank reconciliation statement for the month of 31st October.

SECTION C (40 Marks)

Answer only two (2) questions in this section

7. (a) The financial year of Sheila Co. Ltd ended on 31 December 2016. At 1st Jan 2016 she had in use equipment with a total accumulated cost of TZS 135,620/= which had been depreciated by a total of TZS 81,374/=.

During the year ended 31 December 2016 Sheila Co. Ltd purchased new equipment costing for TZS 47,800 and sold off equipment which had originally cost 36,000/= and which had been depreciated by TZS 28,224/= for TZS 5700/=.

Sheila Co. Ltd is to depreciate its equipment at rate of 40% p.a. using the diminishing balance method.

A full year depreciation is provided for all equipment in use at the end of the year.

Required:

Show the following leger accounts for the year ended 31st December 2016

(i) The equipment account

(ii) The provision for depreciation on equipment 

(iii) Equipment disposal a/c.

(b) From the following particulars relating to Taifa Jogging Club, prepare a receipt and payments account for the year ended 31st March 2015.

Opening cash balance

820,000

Sales of old sports material

120,000

Donations received for building

460,000

Subscription

900,000

Sales of refreshment

10,000

Entrance fees received

100,000

Salaries paid

36,750

Tournament expenses

28,250

Furniture purchased

7,000

New sport materials bought

12,000

Office expenses

85,000

Purchase of refreshment

18,000

Rent

150,000

Expenses for maintenance of playground

556,000

8. The following trial balance was extracted from the book of Kibamba Enterprises on June 30th 2020.


DR.
CR.

Drawing/capital

800

5000

Machinery

2600

-

Debtor/Creditor

1500

3100

Cash at bank

4200

-

Carriage on purchase

600

-

Carriage on sales

400

-

Discounts

500

900

Returns

700

500

Insurance

1600

-

Medical expenses

1800

-

Taxes

1300

-

Rent

2100

-

Stock 30.5.2019 Dept H

900


Stock 30.5.2019 Dept I

600


Furniture

1400


Purchase/sales Dept. H

7800

11200

Purchase/sales Dept.I

9200

14,600

Mortgage loan

-

2700



38,000 38,000




NOTE:

(a) - Stock 30/6/2020 Dept H -1100

- Stock 30/6/2020 Dept I - 900

(b) During the year goods costing 1200 were transferred from Dept. H.

(c) Medical expenses are outstanding by 200/=.

(d) Expenses and incomes should be apportioned to departments on the following basis:

(i) Rent – according to floor space.

(ii) Medical expenses - number of employees.

(iii) Rest - equally.


Required:

Prepare department income statement for the year ended 30th June 2020 and statement of financial position as on that date.

9. Kaka and Dada both are famous sellers of dates. They decide to put their talents and skills to mutual commercial advantages during the Ramadhan. They therefore entered a joint venture to sell dates and share profit and losses equally after allowing 10% commission on sales made by each individual before a certain divisible profit and losses. The transactions for the joint venture were summarized as follow:


Kaka

Dada

Dates bought for sales

600,000

500,000

Transport paid

13,000

13,750

Dates sold for cash

919,800

841,800

Advertising

2,900

3,200

Additional information:

(i) There were no Accrual in respect of expenses and income.

(ii) Kaka failed to sell some of the dates and took them at agreed value of TZS 150,000/=.

Requried: Prepare

(a) A joint venture account in books of both parties.

(b) The memorandum joint venture a/c.

LEARNINGHUBTZ.CO.TZFORM FOUR BKEEPING REGIONAL SERIES-82 YEAR-2022

THE UNITED REPUBLIC OF TANZANIA PRESIDENT’S OFFICE, REGIONAL ADMINISTRATION AND LOCAL GOVERNMENT

MWANZA REGION JOINT EXAMINATION (BUTIMBA, NYEGEZI AND MKUYUNI WARDS)

FORM FOUR PRE - MOCK EXAMINATION-2021

033/1 BOOK-KEEPING

Time: 3 Hours        MAY, 2021

Instructions

  1. This paper consists of three sections A, B and C with a total of 9 questions.
  2. Answer all questions in section A and B and only two (2) questions from section C.
  3. Section A carries twenty (20) marks, section B forty (40) marks and section C forty (40) marks.
  4. Non programmable calculators may be used.
  5. Cellular phones, and other authorized materials are not allowed in the examination room.
  6. Write your examination number on every page of your Answer booklet(s).

SECTION A (20 MARKS)

Answer all questions in this section

1. For each of the items (i)-(xv), choose the correct answer from among the given Alternatives and write its letter beside the item number in the answer sheet provided

(i) If sales is 20,000 and profit make up is 25%, determine the amount of cost price

  1. 13,600 
  2. 12,000 
  3. 16,000 
  4. 12,900 
  5. 20,600

(ii) Which book of prime entry records the sale or purchase of non-current Assets?

  1. General journal 
  2. Sales journal 
  3. Purchases journal
  4. Cash book 
  5. Sales return day book

(iii) If cash sale amount to Tshs 100,000/= paid direct into the bank account, the correct double entry will be to

  1. Debit sales account and credit cash account by sh.100, 000
  2. Debit cash account and credit bank account by sh.100, 000
  3. Debit bank account and credit sales account by sh.100, 000
  4. Debit bank account and credit cash account by sh.100, 000
  5. Debit sales account and credit bank account by sh.100, 000

(iv) How much is to be reimbursed if a petty cashier has spent Tsh.189,00/=while his cash float is Tsh.200,000/=

  1. Tsh,11,000/= 
  2. Tsh 389,000/= 
  3. Tsh,189,000/= 
  4. Tsh,200,000/= 
  5. Tsh,21,000/=

(v) Working capital is a term meaning.

  1. The excess of current liabilities over current liabilities
  2. The excess of the current assets over the current liabilities
  3. the excess of the current assets over non-current liabilities
  4. The excess of current assets over non-current assets.
  5. The excess of non-current Assets over current liabilities

(vi) Natasha and Ndengwe share profits and losses in the ratio 3:2. Their partnership recorded net profits of shs. 1,400, interest on capital shs. 420, partners’ salaries shs. 100 and drawings shs. 280, Determine Ndengwe’s share of the profits.

  1. TZS 840 
  2. TZS 560 
  3. TZS 464 
  4. TZS 696 
  5. TZS 506

(vii) From the following categories of errors, identify the category of errors which affect only one account

  1. Casting errors. 
  2. Errors of principle. 
  3. Errors of omission. 
  4. Errors of original entry. 
  5. Errors of commission.

(viii) In the business of C. Sangster, who owns a clothing store, which of the following is the capital expenditure?

  1. Fixtures and New Van bought 
  2. Shop fixtures bought and wages of assistants
  3. Wages of assistants and new van bought 
  4. Wages of assistants and Petrol for Van 
  5. Fixtures and salaries.

(ix) Manufacturing account is used to calculate:

  1. Production cost paid in the year 
  2. Total cost of goods produced 
  3. Production cost of goods completed 
  4. Gross profit on goods sold 
  5. Prime cost of goods manufactured

(x) Depreciation can be described as the : _______

  1. Amount spent to buy a non –current asset
  2. Salvage value of a non-current asset consumed during its period
  3. Cost of the non-current asset consumed during its period
  4. Amount of money spent replacing non-current asset
  5. Cost of old asset plus new assets purchased

(xi) A bank reconciliation statement is a statement:

  1. Sent by bank when the account are overdrawn
  2. Drawn to verify cash book balance with the bank statement balance
  3. Drawn up by the bank to verify the cash book
  4. Sent by the bank to the customers when errors are made
  5. Sent by the bank customers to the friends.

(xii) If two totals of trial balance do not agree, the difference must be entered in:

  1. A real account 
  2. The trading accounts 
  3. A nominal account 
  4. The capital account 
  5. A suspense account

(xiii) The accounting equation is expressed in the financial statement called:

  1. statement of financial position 
  2. income statement 
  3. expenditure statement 
  4. reconciliation statement 
  5. statement of change in equity

(xiv) If we take goods for own use, we should

  1. Debit drawings Account: Credit Purchase Account
  2. Debit Purchases Account: Credit Drawings Account
  3. Debit Drawings Account: Credit Inventory Account
  4. Debit Sales Account: Credit Inventory account
  5. debit inventory Account: Credit Drawing Account

(xv) if a partnership maintains a fixed capital account, then the partner’s share of profits is:

  1. Credited to the partner’s drawings account 
  2. debited to the partner’s capital account 
  3. credited to the partner’s capital account 
  4. credited to the partner’s current account
  5. debited to the partner’s current account

2. For each of the items (i)-( v) match the narrations of bank reconciliation Items in column A with their corresponding names in column B by writing the letter of the correct response beside the item number in the answer sheet provided

COLUMN A

COLUMN B

(i) these are payments made by a firm or person through cheque but they are not yet sent by customers to the bank to effect those payments.

(ii) These are payments received by a firm or person by cheque but they are not yet passed through the banking system.

(iii) These are fees deducted by the bank for different services made on the current account.

(iv) These are payments made by the customer firm direct to the bank account of supplier firm.

(v) These are payments directed by the account holder to be made by the bank on his behalf.

  1. Standing order
  2. Dishonored cheques
  3. Unpresentedcheques
  4. Errors
  5. Unaccredited cheques
  6. Dividents
  7. Direct transfers
  8. Bank charges

SECTION B (40 MARKS)

Answer all questions in this section.

3. In 1991 Mr. Chipepeto bought a motor car for the cost value of sh.8, 000,000/= with the aim of assisting him in business. But three years later he decided to dispose it for a book value of sh.6,700,000/=

  1. What is the term used to mean the difference between cost value and book value.
  2. Outline four reasons that could be the causes for him to dispose the car for less than the cost value.

4. The DSM Rotary club, has provided you with the following information:-

As at 31st December

2000

2001

Subscription in arrears

6400

8800

Subscription in advance

1200

3400

Subscription during the year

-

20,200

Insurance expenses owing (in arrears)

3700

2700

Insurance expenses prepaid (in advance)

4400

5200

Insurance paid during the year

-

16,800

Required: Prepare A Subscription account and Insurance account, clearly showing amounts to be transferred to income and expenditure accounts for year 2001.

5. Define the following terms

  1. Discount received
  2. Invoice
  3. Discount allowed
  4. Carriage inwards
  5. Carriage outwards

6. (a) Mr Kyamba wants to start a business, but before commencement he needs to learn book keeping. Outline five objectives for him to study book keeping.

(b) Briefly explain three types of a cash book.

SECTION C (40 MARKS)

Answer two questions only from this section.

7. Panguso& company limited own a manufacturing industry which had the following records for the year ended at 31st December 2007.

  • Inventory at 1st January 2007: raw materials sh.760, 000
  • Finished goods sh 360,000
  • Purchases of raw material sh.420, 000
  • Sales of finished goods sh.2, 490,000
  • Factory Fuel & power sh.320, 000
  • Royalty sh.500, 000
  • Depreciation of works machine sh.88, 000
  • Market value sh.1, 800,670
  • General office expense sh.10, 740
  • Manufacturing wages sh.170, 000
  • Inventory at 31 stDec 2007: raw material sh.900, 000
  • Finished goods sh.580, 000
  • Works in progress sh.734, 000

You are required to prepare

  1. Statement of manufacturing costs for the year ended at 31 stDec 2007
  2. Income statement for the year ended at 31.12.2007

8. XY Ltd provides for depreciation of its machinery at 20% per annum on cost; it charges for a full year in the year of purchase but no provision is made in year of sale/disposal.

Financial statements are prepared annually to 31th December.2015 

  • January 1 Bought machine ‘A’ 10,000
  • July 1 2016 Bought machine ‘B’ 6,000
  • March 31 2017 Bought machine ‘B’ 8,000
  • October 7 Sold machine ‘A’ – proceeds 5,500
  • November 5 Bought machine ‘D’ 12,000
  • February 4 2018 Sold machine ‘B’ – proceeds 3,000
  • February 6 Bought machine ‘B’ 9,000
  • October 11 Exchanged machine ‘D’ for machine valued at 7,000

Prepare;

  1. The machinery accountfor the period 1st January 2015 to 31st December 2018
  1. The accumulated provision for depreciation on machinery account, for the period 1st January 2015 to 31st December 2018.

9. The financial of the GGM trading company ended on 30th November 2014. You have been asked to prepare a total amount receivable and total amount payable for the draft final amounts. You are able to obtain the following information for the financial year the book of original entry.

Sales 

  • Cash 344,890
  • Credit 268,187

Purchase

  •  Cash 14,440
  • Credit 496,600

Total receipts from customers 600,570

Total payment to suppliers 503,970

Discount allowed to credit customer 5,520

Discount received from credit suppliers 3,510

Refund given to cash customers 5,070

Balance in sales ledger setoff against balance in the purchase ledger 700

Bad debt written off 780

Increase in the allowance for doubtful debts 900

Credit note issued to credit customers 4,140

Credit note received from credit suppliers 1,480

According to the audited financial statement for the previous year account receivable and account payable as to 1st December 2013 were 26,550 and 43,450 respectively

Required;

Draw up the relevant total accounts entering end of year total for account receivable and account payable.

LEARNINGHUBTZ.CO.TZFORM FOUR BKEEPING REGIONAL SERIES-64 YEAR-2021

Download Learning
Hub App

For Call,Sms&WhatsApp: 255769929722 / 255754805256