THE PRESIDENT’S OFFICE

MINISTRY OF EDUCATION, REGIONAL ADMINISTRATION AND LOCAL GOVERNMENT

COMPETENCE BASED SECONDARY EXAMINATION SERIES

BOOK-KEEPING TERMINAL EXAMINATION

FORM FOUR -2022

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. Section A carries twenty (20) marks and section B and C carry forty (40) marks each
4. Non programmable calculators may be used.
5. Cellular phones and any unauthorised 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. Which categories of errors represent errors which do not affect the Trial Balance agreement?

1. Errors caused by inaccurate arithmetic operations.
2. Errors which cancel out each other in the trial balance.
3. Errors caused by omission of a balance of account.
4. Errors caused by entering an item once in an account.
5. Errors caused by posting an item on a wrong side of an account.

2. Costs incurred for machine repairs in accounting for departmental businesses is appropriately apportioned according to

1. the value of machinery in each department.
2. the value of non-current assets in each department.
3. the number of machines in each department.
4. the number of machine hours used in each department.
5. the floor area occupied by each machine.

3.         How is the capital for a non-profit making organization described?

1. Capital employed fund 
2. Capital supplied fund
3. Accumulated fund 
4. Gross working capital fund
5. Accumulated shares fund

4.         How would you record the commission due to consignee in the books of the consignee?

1. Dr. Consignee's account and Cr. Consignment account
2. Dr. Consignment account and Cr. Profit and loss account
3. Dr. Profit and loss account and Cr. Consignment account
4. Dr. Consignor's account and Cr. Commission Receivable account
5. Dr. Goods on consignment account and Cr consignment account

5. Amani business had an opuning balance of TZS 12,.500 fnr creditors at the beginning of the year and the closing creditors balances of TZS 21,000 at the year end. During the year, the payment made to creditors amounted to TZS 16,000. Calculate the amount of purchases during the year.

1. TZS 33,500
2. TZS 27,000
3. TZS 16,500
4. Tzs 24,500
5. TZS 7,500

6.         During the month of January, a petty cashier was provided with an opening cash float of TZS. 70,000. However, at the end of the same month the closing cash float balance was 15,900. How much should be reimbursed to the cashier at the,end of the month?

1. TZS 15,900 
2. TZS 70,000
3. TZS 54,100 
4. TZS 140,000
5. TZS 101,820

7.       A debit balance of TZS 5 ,000 in a cash account shows that

1. cash has been overspent by TZS 5,000.
2. TZS 5000 was the total of cash paid out.
3. the total of cash received was less than TZS 5,000.
4. there was TZS 5,000 cash in hand.
5. TZS 5,000 was the total of cash received.

8.    The act of recording transactions in any subsidiary book is called

1. posting.
2. double entry system.
3. transaction.
4. balancing.
5. journalizing.

9.         The primary objective of trial balance is

1. to make sure that total amount of debit side and credit side are equal.
2. to detect and avoid errors and frauds.
3. to prepare trading, profit and loss account and balance sheet.
4. to test the arithmetic accuracy of the ledger.
5. to prepare suspense account.

10. What would you consider to be the main source of government revenues?

1. Royalties
2. Penalties
3. Taxes
4. Interest
5. Fees

11.         Which of the following would best describe the use of a control account?

1. To check the arithmetical accuracy of ledgers
2. To show costs ascertained in the ledgers
3. To show allowance given by suppliers
4. To check the debit balance of sales account
5. To show the direct costs allocated to a section of a business

12.       How would you categorize the subscription paid in advance in the balance sheet of a non-profit making organization?

1. A current liability
2. A non-current liability
3. A current asset
4. A non-current liability
5. Accumulated fund

13.    The term depreciation would best be described as the

1.  value of money used to replace non-current assets.
2.  value of non-current assets consumed due to its use.
3.  gradual increase in value of non-current assets due to its use.
4.  value of a non-current asset that remains after its use.
5.  amount incurred to repair the non-current assets

14.    Which of the following depreciation methods uses the reduced value to compute the depreciation of a non-current asset?

1.  Straight line method          
2. Sum of the years digits method
3. Diminishing balance method                 
4. Machine hours rate method
5. Unit of output method

15.       Prime cost is obtained as a result of

1.  Cost of raw materials used plus direct wages and factory overhead cost.
2.  Cost of raw materials used plus direct wages.
3.  Factory overhead cost plus direct wages.
4.  Factory cost of goods manufactured less cost of raw materials used. 
5. Cost of raw materials used less factory cost of goods manufactured.

2.For each of the items (i) - (v), match the descriptions of the different types of capital 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 booklet provided.

SECTION B (40 Marks)

Answer all questions in this section.

1.  Business entity
2. Money measurement
3.  Accruals
4.  Going concern
5. Dual aspect

4. A partnership may be formed through an oral or a written legal agreement among the partners. Suppose there is no written partnership agreement, explain briefly five provisions of the Partnership Act that would govern the operations of the partnership.

5.(a)The following information was extracted from the books of Rhombo Traders for the year ending 31st December, 2017

 Using the information provided, calculate:

(i)   The value of goods available for sale.

(ii)  The gross profit for the year.

(iii) The net profit for the year.

(iv) Rate of stock turnover.

(v)  Percentage of expenses over sales

6. On 1^st January 2015 Mikuyu Motors Company Ltd purchased Motor Lorry worth TZS 12,000,000. The company used the asset for three years. On 31^st December 2017 the lorry was sold for TZS 3,000,000. It is the policy of the company to compute depreciation using straight line method.

Using the information provided, prepare the Motor Lorry and Provision for Depreciation on Motor Lorry Account for the three years ending 31^st December 2015, 2016 and 2017.

SECTION C (40 Marks) 
Answer two (2) questions from this section.

7. The following is the receipts and payment account of Chamwino social club for the year ending 31^st December 2017:

Additional Information

1. There are 500 members, each paying annual subscription fee of TZS 450.
2. TZS 9,000 is still in arrears for the year ended 2016 and it was decided to be written off.
3. Buildings stand in the books at TZS 500,000 and are to be depreciated at 5%.
4. General expenses of TZS 2,100 for the year have not been paid.

Use the information provided to prepare the following:

1. Statement of Affairs at 1^stJanuary 2017.
2. Subscriptions Account for the year ending 31^stbecember 2017.
3. Statement of Income and Expenditure for the year ending 31 ^StDecember 2017.
4. Statement of Financial Position for the year ended 31^stbecember 2017.

8. MS Annet did not maintain her accounting records on a double entry system. On 31 ^st December 2018 she supplied the following list of assets and liabilities.

The following information is also available:

(i)During the year to 31 ^st December 2018, MS Annett made loan repayment of TZS 100,000.

(ii)MS Annett provides for depreciation on motor vans at 10% per annum.

Prepare the statements of affairs to calculate the opening capital as at 1 ^st January 2018 and closing capital as at 31 ^st December 2018.

9.   The following is a trial balance of Mr Mashamba for the year ended 31^st December 2018:

Mr Mashambas Trial Balance as at 31 December 2018

Notes at 31/12/2018:

 (i)Inventory of raw materials TZS 480,000, inventory of finished goods TZS 800,000 and inventory of work in progress TZS 300,000.

(ii) Lighting, rent and insurance are to be appoftioned as follows: Factory 5/6, administration 1/6.

(iii) Depreciation on machinery and plant and office fixtures is 10% per annum on cost.

 (iv) Net Profit was TZS. 1,796,000.

Use the given information to prepare the Statement of Manufacturing Cost for the year ending 31 ^st December 2018 and the Statement of Financial Position as at 31^st December 2018.