FORM TWO BKEEPING NECTA 2013

(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
Choose Answer :


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
Choose Answer :


(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
Choose Answer :


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

  1.  Purchases Journal
  2. Purchases Returns Journal
  3. Sales Journal
  4. Sales Returns Journal
Choose Answer :


(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
Choose Answer :


(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
Choose Answer :


(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 D. Unpresented cheques
Choose Answer :


(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
Choose Answer :


(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
Choose Answer :


(x)      Which of the following is a liability?

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


2013 - BOOK-KEEPING

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

A.Accounting Officer B. Authorized Officer

C.Paymaster General

D.Receiver of Revenue

Choose Answer :


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

A.assets of cash increase while bank assets decrease

B.assets of the bank increase while cash decreases

C.assets of the business increase while liabilities of the business decrease

D.fixed assets decrease

Choose Answer :


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

A.credit side of the sales account

B.credit side of the sales day book

C.debit side of the sales journal

D.debit side of the sales returns account

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

Choose Answer :


A.Purchases Journal

B.Purchases Returns Journal

C.Sales Journal

D.Sales Returns Journal

Choose Answer :


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

A.calculate profit or loss

B.check bank balance

C.check the accuracy of ledger entries

D.provide a list of assets and liabilities

Choose Answer :


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

A.current

B.exchequer account

C.government account D. personal account

Choose Answer :


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

A.Bank charges

B.Opening balances in the Cash book

C.Unaccredited cheques D. Unpresented cheques

Choose Answer :


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

A.credit side of the Purchases account

B.credit side of the Sales account

C.debit side of the Purchases account

D.debit side of the Sales account

Choose Answer :


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

A.contra-entry

B.drawings

C.gains

D.losses

Choose Answer :


(x)Which of the following is a liability?

A.Cash balance

B.Debtors

C.Loan from NBC

D.Loan to Anna

Choose Answer :


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

(i)  A document sent by a seller of goods to a buyer to correct an under-charge in an invoice

(ii)  A document used to record business transactions before posting to the ledger

(iii)  A fund established in order to meet urgent services, the need for which could not have been foreseen

(iv)  A situation whereby revenue is less than https://myfiles.space/user_files/47605_0f9e529f89f807df/1585550768_book-keep-2013_files/image004.jpgexpenses incurred in conducting business

(v)  A term used when money is transferred from cash to bank and vice-versa

(vi)  An allowance made to customers if they buy goods in bulk

(vii)  An authority granted by the Minister for Finance to transfer approved funds from one vote to another

(viii)  The amount of money given to the shareholders of the company as their gain from the profit

(ix)   Universal acceptance that a business is separated from the owner

(x)   Used to record pages of reference in the books of accounts

 

A. Business entity concept

B. Civil contingencies funds

C. Commission

D. Contra-entry

E. Credit note

F. Dividends

G. Folio column

H. Loss

I. Margin

J. Narration

K.  Statement

L.  Subsidiary books

M. Trade Discount

N. Treasury

O.  Virement

 

View Ans


SECTION B

3.Mention five types of Government revenue

View Ans


4.Fill in the gaps in the following table:

S/N

ASSETS

CAPITAL

LIABILITIES

  1.  

Tshs. 2,500,000

Tshs 1,097,000

Tshs………..

  1.  

Tshs…………….

Tshs 10,000,000

Tshs 1,193,700

  1.  

Tshs 3,900,000

Tshs……..

Tshs 1,193, 700

  1.  

Tshs 25,698

Tsh 17,947,800

Tshs…….

  1.  

Tshs…………

Tshs 17,587, 400

Tshs 3,412,600

View Ans


SECTION C

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

 Date

 

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

View Ans


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

 

 

Salaries and wages

TShs. 7,000,0000

Building .

TShs. 20,000,000

Capital .

TShs.  124,000,000

Furniture

TShs. 30,000,000

Sales

TShs. . 55,000,000

Cash in hand

TShs. 15,000,000

Cash in Bank

TShs. 25,000,000

Closing  Stock

TShs. 35,000,000

Opening Stock

TShs.50,000,000

Discount Received

TShs. 15,000,000

Discount allowed

TShs.  10,000,000

Carriage inwards

TShs. 3,000,000

Debtors

TShs.  12,000,000

Machinary

TShs.  6,000,000

Creditors

TShs.  18,000,000

Carriage Outward

TShs.  4,000,000

Purchase

TShs.  30,000,000

View Ans


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

Loan from Kiziga Trader

TShs.

8,000,000

Cash in Hand

TShs..

120,000

premises

TShs.

26,000,000

Capital

TShs..

29,650,000

creditors

TShs.

780,000

Debtors

TShs..

7000,000

Stock

TShs.

3,650,000

 

 

 

Bank Overdraft

TShs.

540,000

Total

 

38,970,000

 

 

38,970,000

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

View Ans


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