THE UNITED REPUBLIC OF TANZANIA NATIONAL EXAMINATIONS COUNCIL OF TANZANIA
FORM TWO NATIONAL ASSESSMENT
062 BOOK KEEPING
Duration: 2:30 Hours
INSTRUCTIONS.
SECTION A (20 Marks)
Answer all questions in this section.
1. For each of the items (i) – (x), choose the correct answer from among the given alternatives and write the letter in the box provided.
(i) The document used to deposit money in the bank account is known as
(ii) Cash or goods taken out of business for private use are called
(iii) Which one should not be called sales?
(iv) Which of the following is a liability to a business?
(v) Which of the following is correct about capital?
(vi) To which account is the total of the purchases returns journal transferred to?
(vii) Which one of the following is not an asset to a business?
(vii) Which of the following are personal accounts?
(ix) In which account is the net profit of the business determined?
(x) Which of the following is a ledger account?
2. For each of the items (i) – (x), match the descriptions of the terms used in Book Keeping in List A with their corresponding names in List B by writing the letter of the correct response below the corresponding item number in the table provided.
List A | List B |
(i) The maximum amount of money an accounting officer can spend. (ii) The balance at any point in time remaining to the credit side of the exchequer account (iii) The Ministry which has been generally vested the task of accounting for all the government money. (iv) Any person who is appointed in writing to authorize the expenditures for specific items of expenditure. (v) Accounts for the basic services provided by the local authorities through the use of the general revenue. (vi) A group of people who are relate to each other and are entitled for government monetary benefits. (vii) A financial year of the government which starts on 1st July and ends 30th June of every year. (viii) Day to day expenses for executing operations of a government. (ix) Estimates to cater for the capital of long term projects of the government. (x) Government money for the benefit of all citizens in a country. |
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SECTION B (20 Marks)
Answer all questions in this section
3. Mention five users of accounting information.
(i) ………………………………………………………………
(ii) ………………………………………………………………
(iii) ………………………………………………………………
(iv) ………………………………………………………………
(v) ………………………………………………………………
View Ans4. Briefly explain the following terms:
(a) Double entry book keeping system
………………………………… …………………… ……… ………………………………… ………………………………
View Ans(b) Account
……………… ……………………… ……… …………… …………………… ……………… ……………………
View Ans(c) Discount received
………………………………… …………………… ……… ……………………………… …………… …………………
(d) Debtors
…………… ……… ……………… ………… ………………… ……… …………… …………… ………………… …………… ………
View Ans(e) Current liabilities
……………………………… ………………… …………… ………… ……………… ……………… ……………………………………
View Ans
SECTION C (60 Marks)
Answer all questions in t his section.
5. Enter the following balances and record the transactions for the month of April 2018 in the three column cash book of Mrs. Mwalongo, balance the cash book, and bring down the balances.
2018
April 1, Balance b/d TZS
Cash 11,000
Bank 38,500
Debtors:
L. Sempeo 16,000
L. Mushi 10,000
S. Sogodi 12,000
Creditors:
R. Fredy 12,000
L. Andrew 20,000
E. Sebogo 28,000
April 3, L. Mushi paid her account by cheque, after deducting 5 percent cash discount.
April 7, Mrs. Mwalongo paid amount owing to R. Fredy by cheque, less 2.5 percent cash account.
April10, withdrew TZS 15,000 cash from the bank for office use.
April 15, Mrs. Mwalongo sold goods worth TZS 24,000 on credit to L. Mushi.
April 17, L. Sempeo paid amount owing by cheque, les 2.5 percent cash discount.
April 20, Mrs. Mwalongo paid wages by cheque TZS 31,500.
April 22, Mrs. Mwalongo paid amount owing to L. Andrew by cheque, after deducting 5 percent cash discount.
April 25, S. Sogodi paid the amount owing by cheque, less 2.5 percent cash discount.
April 28, Mrs. Mwalongo paid the amount owing to E. Sebogo by cheque, after deducting 2.5 percent cash discount.
View Ans
6. T. Thomas, a sole trader keeps his petty cash on the imprest system. The imprest amount is TZS 50,000. The petty cash transactions for the month of February 2017 were as follows:
2017
February 1, petty cash in hand TZS 4,670
February 1, Petty cash restored to imprest amount
February 3, paid wages TZS 8,760
February 7, purchased postage stamps TZS 2,940
February 10, paid wages TZS 9,110
February 14, purchased envelops TZS 2,280
February 17, paid wages TZS 8,840
February 20, paid cash to J. Mureithi a creditor, TZS 4,160
February 21, purchased stationary TZS 2,750
February 24, paid wages TZS 8,480
Record the given transactions in T. Thomas’s petty cash book for the month of February 2017 and show the restoration of the petty cash to the imprest amount as on 1st March 2017. Use the following analysis columns:
a) Wages
b) Stationery
c) Postage
d) Ledger
View Ans7. The following balances were extracted from the books of G. George for the year ended 31st December 2017. Use the information provided to prepare his statement of Financial Position as at 31st December, 2017.
Details TZS
Capital 200,000
Loan from K. China 50.000
Loan from Uncle 150,000
Sales 140,000
Furniture 50,000
Loan to Mwajuma 50,000
Buildings 50,000
Net profit 31,270
Land 50,000
Purchases 300,000
Drawings 25,400
Salaries 150,000
Bank overdraft 39,380
Wages 100,000
Creditors 90,200
Motor vehicle 50,000
Fixtures and Fittings 220,000
Stock 23,500
Debtors 41,950
Rent 20,000
View Ans