BKEEPING NECTA EXAMINATIONS
YEAR : 2016  SUBJECT : BKEEPING

SECTION A

(i) A statement which shows the financial position of the business is called

  1.  Tading account
  2.  Profit and loss account
  3.  Trial balance
  4.   Balance sheet

(ii)     Given a desired cash float of Tshs. 5,000/=. If Tshs. 4, 410/= is reimbursed at the end of the period, how much will be spent in the period?

  1.   Tshs. 4,410        
  2.  Tshs. 590
  3.  Tshs. 5,000                             
  4.  Tshs. 9,410

(iii)   Which of the following is an example of nugatory expenditure?

  1. Payment for services received. 
  2.  Purchases of office equipment. 
  3.  Purchases of office typing machine.
  4. Payment of services not received.

(iv)    Whenever cost of goods sold is greater than sales the outcome presents:

  1.  gross profit    
  2.  gross loss 
  3. net profit     
  4. net loss

(v)     An officer appointed in writing by the Treasury and charged with the duty of collecting and accounting for specified public money is called

  1.  Collector of revenue
  2.  Receiver of revenue 
  3.  Authorized office 
  4.  Accounting officer.

(vi)    Discount received is advantageous to the buyer because

  1.  it reduces the quantity of goods bought on credit
  2.  it reduces the value of goods bought on credit
  3.  It reduces the time to pay for goods bought on credit
  4.  it reduces cash to be paid for the goods bought on credit

(vii)  At whith ledger are supplier personal accounts found?

  1. Norminal ledger
  2. General ledger 
  3. Purchases ledger
  4. Sales ledger.

(viii)The document used to deposit money in the bank is known as

  1. bank pay-in-slip 
  2. bank statement 
  3.  cheque
  4.  payment voucher.

(ix)   Which of the following is not shown in he trial balance? 

  1.  Purchases.
  2.  Drawings
  3.  Opening stock 
  4. Closing stock

(x)     A credit balance in a bank account shows:

  1. the amount available at the end of the period.
  2.  the amount that had been overspent at the end of the period
  3.  the total amount paid out at the end of the period 
  4. the total amount received at the end of the period.


2.          Match the items in List A with the responses in List B by writing the letter
LIST A LIST B
  1. A book of prime entry used to record all goods bought on credit.
  2. A book of account where total returns outward is to be posted.
  3. A book of prime entry used to record all transactions which cannot be recorded in any other books of prime entry.
  4. A book of prime entry used to record returns outward from goods bought on credit.
  5. A book of account where the total credit purchases is posted
  6. The part of a book of prime entry used to record many small payment and high frequency made on cash.
  7. A book of prime entry used to record returns inward for goods sold on credit.
  8. A book of prime entry which is used to record all receipts and payments made on the spot.
  9. A book of prime entry used to record all goods sold on credit
  10. A document which provides information necessary for recording transactions in return outwards book.
  1. P u r c h a s e s ledger
  2. Sales Returns
  3. Journal
  4. P u r c h a s e s
  5. Journal
  6. Sales Journal
  7. Journal proper
  8. Goods received note
  9. P u r c h a s e s
  10. Returns Journal
  11. Sales Ledger
  12. Petty Cash Book
  13. Debit note
  14. P u r c h a s e s invoice
  15. Cash book
  16. P u r c h a s e s returns ledger


SECTION B

3.          Mention five sources of government funds.

4.          Determine the missing figures from the following table

$/N

ASSETS(TSMS

A

LIABILiTlEStTSHS)

CAPITAL

 

72,000

28,000

 

(ii)

144,000

 

88,000

(iii)

 

100,000

30,000

(iv)

20,000

5,400

 

(v)

 

42,200

80,400

SECTION C

5.          Your are provided with Mrs. Masajus Cash book for the month of January 2010. Post the transactions from the cash book to the respective accounts in the ledger and balance off the accounts.

Mrs Masajus Cash book

Date

 

Fob

Amount

Date

:DeEail$

Fol

An-lount

1/1/2010

apital

 

100,000

1/1

Purchases

 

35,000

3/1/2010

Sales

 

80,000

5/1/

Purchases

 

50,000

18/1/2010

Sales

 

42,000

10/1/

Furniture

 

25,000

 

 

 

 

31/1/

Balance

c/d

110,000

 

 

 

 

 

 

 

220,000

1/2/2011

Balance

b/d

110,000

 

 

 

 


6.          The following is a trial of G.K Traders as at 30th June, 2009 G.K Traders

Trial Balance as at 30th June, 2009

 

Name ofAccount

Debit

credit (She)

Sales

 

266,000

Purchases

154,000

 

Rent

3,800

 

Lighting

2,000

 

Stock at 1/7/2008

20,000

 

Salaries and wages

35,000

 

Land and Buildings

74,400

 

Debtors

31,200

 

Creditors

 

13,000

Cash at bank

15,000

 

Commission received

 

3,000

Drawings

44, 600

 

Motor van

16,000

 

Capital

 

114,000

TOTAL

3.96.000

396.000


 Additional information

The value of stock at 30th June, 2009 was sh. 18,000.

Using the information provided, prepare Trading, Profit and Loss account for the year ended 30th June, 2009.

7. On 31st December 2008 N. Traders cash book balance showed a debit balance of Tshs. 420,000/= and bank statement showed a credit balance of Tshs. 396, 000/=

The following transactions did not appear in the bank statement:

(i)     A cheque to Ngesa Tshs. 104, 000/=

(ii)   Cheque received from Nangasa Tsh 100,000/=

The items which did not appear in the cash book include:

(i)      Bank charges Tshs. 18,000/= and Bank interest received Tshs. 15,000/=

(ii)    Cash paid direct into bank account Tshs. 120,000/=

(iii) Standing orders-telephone charges Tsh. 145,000/=

Using the information given;

(a)     Adjust the cash book to show the correct balance

(b)    Prepare bank reconciliation statement as at 31st December, 2008 by using balance as per bank statement.

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YEAR : 2015  SUBJECT : BKEEPING

SECTION A

  1.  For each of the items (i) - (x), choose the correct answer.

(i)  Which of the following is the definition of a balance sheet?

  1. A list of balances after calculating net profit
  2.  A statement of all liabilities. 
  3.  A trial balance at a different date.
  4.  A list of balance before calculating net profit.

(ii)  The purchases day book can be described as:

  1. part of the double entry system
  2. a list of purchases bought on credit
  3.  a list of suppliers accounts
  4.  a list of purchases bought for cash.

(iii)  Which ofthe following describes the meaning ofa trial balance?

  1. Is the final account in the books. 
  2. Shows all the assets balances.
  3. Is a list of the balances on the books.
  4. Discloses the financial position of a business.

(iv)  Which of the following is not personal account?

  1. Rent and debtors
  2. Debtors and drawings
  3. Debtors and creditors
  4. Drawings and rent

(vi) A cash discount is described as a reduction in the sum to be paid:

  1. if goods are bought on credit and not for cash
  2.   if either cheque or cash payment is made within an agreed period
  3.   if cash is paid instead of cheques
  4.   if trade discount is also deducted

(vii)  What is meant by trade discount?

  1. A discount given if the invoice is paid
  2.  A discount given for cash payment
  3.  A discount given to suppliers
  4.  A discount given to traders

(viii)  The balance in the purchases ledger are usually:

  1. credit balance
  2.  contra balance
  3.  nominal balance 
  4.  debit balance

(ix)  In the trading account, the sales returns should be:

  1. added to cost of goods sold
  2. deducted from purchases
  3. deducted from sales
  4.  added to sales

(x)  The journal is described as:

  1.  part of the double entry system
  2.  a form of sales day book
  3.  a form of diary
  4.  a supplement to the balance sheet

2. Match the items in List A with the responses in List B by writing the letter of the correct response below the item number in the table provided.

LIST A LIST B
  1. Used to record items that are much less common.
  2. The individual record of a person, firm, a thing, an item of income or expenses.
  3. Each transaction is recorded in its two-fold aspects.
  4. A written order from a bank current holder addressed to the bank to pay stated money.
  5. Record involving the assets of the business
  6. Record items of expenses incurred and income earned.
  7. A document used to record payments of goods purchased and sold on credit.
  8. A document sent by the seller to the buyer to correct an undercharge in an invoice.
  9. A document sent by the seller to the buyer to correct an overcharge in an invoice.
  10. A written acknowledgement of money received or paid.
  1. Ledger
  2. Real account
  3. Sales ledger.
  4. Double entry
  5. Cheque
  6. Account
  7. Receipt
  8. Journal
  9. Credit note
  10. Purchases ledger
  11. Debit note
  12. General ledger
  13. Invoice
  14. Personal account
  15. Nominal account

SECTION B

3. Mention any five types of books of original entry.

 4. State the nature of the following accounts whether they are debit or credit balance.

ACCOUNT NATURE OF ACCOUNT (DEBIT OR CREDIT)
  1. Capital account
  2. Purchases account
  3. Sales account
  4. Rent received account
  5. Rent account
  6. Drawings account
  7. Machinery account
  8. Debtors account
  9. Creditors account
  10. Stock account

SECTION C

5.  The following balances were extracted from the books of Yamoto Company.


Cash in hand

50,000

Cash at bank

250,000

Stock

100,000

Buildings

500,000

Fixture and fittings

100,000

Plant and Machinery

300,000

Debtors

250,000

Creditors

350,000

Capital

1,000, 000

Liabilities

200,000


Using the information provided, prepare a balance sheet as at 31st December, 2013.

6.  Jajas cash book at 30th June, 2014 showed a debit balance of sh. 25,000 while the bank statement received on the same day showed an overdrawn balance of sh. 5,200. The difference was caused by the following factors:

(a)  A cheque for sh. 41,000 had been received by Jajas cashier in the afternoon of 30th June, 2014, but was not paid into the bank until 2ndJuly, 2014.

(b)  Bank charges amounting to sh. 1,600 had not yet been entered in the cash book.

(c)  Two cheques paid to creditors for sh. 8,800 and sh. 3, 600 had  not yet been presented for payment.

Using the information provided:

(i)  Show an adjusted cash book

(ii)  Prepare a bank reconciliation statement as at 30th June, 2014.

7.  From the following particulars extracted from the books of Nankambila, prepare trading, profit and loss account for the year ending 30th December, 2013.

Transactions:

Sh.

Sales

310,000

Sales returns

16,000

Purchases

280,000

Purchases returns

37,000

Wages

20,000

Discount received

25,000

Discount allowed

10,000

Opening stock 1st January, 2013

110,000

Closing stock 31 st December, 2013

170,000


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YEAR : 2014  SUBJECT : BKEEPING

SECTION A

1.       For each of the items (i) - (x), choose the correct answer.

(i)       Which of the following statements is incorrect?

  1.  Assets — Capital = Liabilities 
  2.  Liabilities +Capital = Assets
  3.  Liabilities + Assets = Capital 
  4.  Assets — Liabilities = Capital

(ii)      Which of the following is a liability?

  1.  Machinery
  2.  Accounts payable for goods
  3.  Motor vehicles 
  4. Cash at bank

(iii)    Which of the following best describes the meaning of sales?

  1.  Goods bought for cash
  2.  Goods bought on credit
  3.  Goods bought for resale
  4.  Goods paid for cash and credit

(iv)    What is meant by book keeping?

  1.  An art of recording business transactions.
  2.  An art of recording cash transactions. 
  3.  An art of recording bank transactions.
  4. An art of recording cash and credit transactions.

(v)      Which of the following is correct?

  1.  Profit does not change capital.
  2.  Profit reduces capital
  3.  Capital can only come from profit.
  4.  Profit increases capital.

(vi)    In government accounting the term family includes an officers:

  1.      wife and children
  2.      father, wife and children
  3.      all relatives
  4.     mother, father, wife and children

(vii)  Net profit is calculated in the:

  1.    trading account
  2.    trial balance
  3.    balance sheet
  4.    profit and loss account

(viii)The gross profit can be described as:

  1.    excess of sales over cost of goods sold
  2.    sales less purchases
  3.    cost of goods sold plus opening stock 
  4.   net profit less expenses of the period

(ix)    The sales day book can be described as:

  1.  part of the double entry system
  2.  a list of credit sales
  3.  a list of supplier accounts 
  4.  part of real accounts

(x)      A debit balance of Sh. 25,000 in a cash account shows that:

  1.  there was Sh. 25,000 cash in hand
  2.  cash has been overspent by Sh. 25,000
  3.  Sh. 25, 000 was the total of cash paid out
  4.  the total of cash received was less than 25, 000

2. Match the items in Column A with the responses in Column B by writing the letter of the correct response below the item number in the table provided.

COLUMN A COLUMN B
  1. The amount of resources invested in the business by the owner.
  2. The property belonging to the business
  3.  The property acquired or created and held permanently in the business.
  4.  The property that one can touch and see.
  5.  A statement of the financial position of an enterprise as at a given date
  6. The property belonging to a business which is of a temporary nature.
  7.  Activities involving transfer of money or goods from one person to another.
  8.  A schedule of balances, both credit and debit, extracted from the accounts in the ledger.
  9.  The claims for which must be paid in full, within a short period.
  10.  The business owner reduces the business resources for personal use.
  1. Tangible assets
  2. Bank balance
  3. Current assets
  4. Revenue receipts 
  5. Fixed assets
  6. Current liabilities
  7. Business
  8. Capital
  9. Cash balance
  10. Trial balance
  11. Credit purchases
  12. Assets
  13. Drawings
  14. Transactions
  15. Balance sheet

3.     (a) Mention three classes of accounts. 

(b) Name two sides of account.


4.         Identify the account affected by the following transaction and show action to take in recording the accounts in the double entry system.

TRANSACTION ACCOUNT TO BE DEBITED ACCOUNT TO BE CREDITED
  1. Owner put cash into business
  2. Bought goods for cash
  3. Sold goods for cash
  4. Received cash for rent
  5. Owners withdraws cash from business for personal use

SECTION C

5.  The following balances were extracted from the books of Mkubwa Nawanawe.

Cash in hand

134, 000

Cash at bank

307,500

Stock at the beginning

600,000

Furniture and fittings

915,000

Machine                                                        

Debtors: Mapipa

1,000,000

25,000

Mbala

200,000

Majanga

35,000

Purchases

220,000

Wages

48,000

Rent

80,000

Electricity

6,000

Sundrt expenses

14,000

Discount allowed

2,500

Creditors:      Joti

7,000

Mpoki

45,000

Sunche

120,000

Sales

945,000

Discount received

20,000

Capital

2,472,500

Using the information provided, prepare a trial balance.

   6.  Lupelo started business on 1st January, 2014 having transferred Sh. 96,000 from his private bank account to the business office. During the month of January he carried out the following transactions:

2014

January 1 Paid Sh. 4,800 for rent for the month and made purchases of Sh. 38,300.

2 Paid Sh. 3,800 for stationery and Sh. 1,920 for stamps. 4 Cash sales Sh. 17,280 and purchased goods for cash Sh. 60,000.

7 Paid Sh. 2,880 in respect of wages to assistant.

10 Borrowed Sh. 48,000 from Katondo, a friend

13 Bought a used pick-up for Sh. 92,160 from Karanga against Sh. 19,200 deposit.

19   Cash sales Sh. 42,240

20   Paid wages for two weeks, Sh. 5,760.

21   Cash sales Sh. 40,000

22   Commission received Sh. 20,000

23   Bought goods from Webuye Wholesalers Ltd, for Sh. 62,400 on credit.

29   Drew Sh. 28,800 for private use.

30   Cash sales Shi 26,880

31   Paid another Sh. 57,600 off pick-up account.

   Write up Lupelos one column cash book

7.        From the following particulars extracted from the books of a trader, prepare trading account for the year ending 30th December, 2013.

TRANSACTIONS SH.

Sales

155,000

Sales returns

8,000

Purchases

140,000

Purchases returns

18,500

Carriage inwards

12,000

Warehouse wages

10,000

Opening stock 1 st January, 2013

55,000

Closing stock 31st December, 2013

85,000
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YEAR : 2013  SUBJECT : BKEEPING

SECTION A

1.      For each of the following items, write the letter of the correct answer.

(i)       An officer in public service who controls public money is called

  1.  Accounting Officer 
  2.  Authorized Officer
  3.  Paymaster General
  4.  Receiver of Revenue

(ii)      When cash is paid into the bank the effect is:

  1.  assets of cash increase while bank assets decrease
  2.  assets of the bank increase while cash decreases
  3.  assets of the business increase while liabilities of the business decrease
  4.  fixed assets decrease

(iii)    The total of sales Journal is entered on the:

  1.  credit side of the sales account
  2.  credit side of the sales day book
  3. debit side of the sales journal
  4.  debit side of the sales returns account

(iv)    Purchases invoice provides information to be entered in:

  1.  Purchases Journal
  2.  Purchases Returns Journal
  3.  Sales Journal
  4.  Sales Returns Journal

(v)      A Trial Balance is prepared in the business in order to:

  1.  calculate profit or loss
  2.  check bank balance
  3.  check the accuracy of ledger entries
  4.  provide a list of assets and liabilities

(vi)  An account where revenues collected by the Government are deposited before allocating to the Accounting officers is known as:

  1.   current
  2.   exchequer account
  3.   government account 
  4. . personal account

(vii)          Which of the following is listed in the bank statement but not in the Customers Cash book?

  1.     Bank charges
  2.     Opening balances in the Cash book
  3.     Unaccredited cheques 
  4. . Unpresented cheques

(viii)        The total return inwards is posted to the:

  1.     credit side of the Purchases account
  2.     credit side of the Sales account
  3.     debit side of the Purchases account
  4.     debit side of the Sales account

(ix)  The cash or goods taken from the business by the owner for personal use are known as:

  1.       contra-entry
  2.        drawings
  3.        gains
  4.       losses

(x)    Which of the following is a liability?

  1.       Cash balance
  2.       Debtors
  3.       Loan from NBC
  4.       Loan to Anna

2.         Choose the correct term from List B which matches with the explanation in List A and write the letter against the number of the corresponding explanation in the table provided.

LIST A LIST B
  1. A document sent by a seller of goods to a buyer to correct an under-charge in an invoice
  2. A document used to record business transactions before posting to the ledger
  3. A fund established in order to meet urgent services, the need for which could not have been foreseen
  4. A situation whereby revenue is less than expenses incurred in conducting business
  5. A term used when money is transferred from cash to bank and vice-versa
  6. An allowance made to customers if they buy goods in bulk
  7. An authority granted by the Minister for Finance to transfer approved funds from one vote to another
  8. The amount of money given to the shareholders of the company as their gain from the profit
  9. Universal acceptance that a business is separated from the owner
  10. Used to record pages of reference in the books of accounts
  1. Business entity concept
  2. Civil contingencies funds
  3.  Commission
  4.  Contra-entry
  5.   Credit note
  6.   Dividends
  7.    Folio column
  8.   Loss
  9.   Margin
  10.   Narration
  11.   Statement
  12.   Subsidiary books
  13.   Trade Discount
  14.    Treasury
  15.    Virement


SECTION B

3.         Mention five types of Government revenue

4.         Fill in the gaps in the following table:

SIN

ASSETS

CAPITAL

LIABILITIES

 

Tshs. 2,500,000.00 

Tshs.1,097,000.00 

Tshs. ............

 

Tshs. .. ...

Tshs. 10,000,000.00 

Tshs. 1,193,700

(iii)

Ths. 3,900,000.00 

Tshs.

Tshs. 1,193,700.00

(iv)

Tshs.25,698.00

Tshs. 17,947,800.00

Tshs. .
(v) Tshs. .... Tshs 17,587,400.00





SECTION C

5.             Borakupata Brothers made the following purchases returns during the month of January, 2010.

Jan 5th 2010

Returned to Mandelako:

One bag of maize at Tshs. 30,000.00, not suitable for consumption

Jan 10th 2010

Returned to Godfrey:

2 dozen cooking oil at Tshs. 1,500.00 each, poor quality

Jan 20th 2010

Returned to Kazimoto:

1 dozen blanket at Tshs. 5,000.00 per piece not of size ordered

Jan 25th 2010

Returned to Godfrey:

5 dozen tins of baby milk at Tshs. 600.00 per tin, spoiled in transit

Jan 28th 2010

Returned to Kazimoto:

3 dozens of Bed sheets at Tshs. 2,000.00 per bed sheet, wrong colour

Referring to the table, you are required to open:

(i)       Purchases Returns Journal

(ii)      Purchases ledger

(iii)    General ledger


6.         Post the following list of balances into the Trial Balance of Bafanabafana as at 31st December, 2010.

Salaries and wages ...

Tshs. 7,000,000.00

Building ......

Tshs. 20,000,000.00

Capital ......

Tshs.124,000,000.00

Furniture.....

Tshs. 30,000,000.00

Sales......

Tshs. 55,000,000.00

Cash in hand.....

Tshs. 15,000.000.00

Cash at bank .....

Tshs. 25,000,000.00

Closing stock ....

Tshs.  35,000,000.00

Opening stock ...

Tshs. 50,000,000.00

Discount received...

Tshs. 15,000,000.00

Discount allowed

Tshs. 10,000,000.00

Carriage inwards ......

Tshs. 3,000,000.00

Debtors...

Tshs. 12,000,000.00

Machinery ....

Tshs. 6,000,000.00

Creditors.....

Tshs. 18,000,000.00

Carriage outwards....

Tshs. 4,000,000.00

Purchases....

Tshs. 30,000,000.00

7.         The following is a Balance sheet of Maliyatabu traders as at 31 st December 2011.

MALIYATABU TRADERS BALANCE SHEET AS AT 31st

DECEMBER, 2011

Equipment

Tshs.

8,500,000.00

Loan from

Kiziga trader

Tshs.

 

Cash in hand

Tshs.

120,000.00

Premises

Tshs.

 

Capital

 

 

Creditors

Tshs.

780,000.00

Debtors

 

700,000.00

Stock

Tshs.

 

 

 

Bank Overdraft

Tshs.

540.000.00

TOTAL

 

38,970.ooo.oo

 

 

 

You are required to redraft the above balance sheet correcting any mistakes therein.

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