FORM TWO BKEEPING NECTA 2013

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

Accounting Officer
Authorized Officer
Paymaster General
Receiver of Revenue

Choose Answer :

When cash is paid into the bank the effect is:

assets of cash increase while bank assets decrease
assets of the bank increase while cash decreases
assets of the business increase while liabilities of the business decrease
fixed assets decrease

Choose Answer :

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

credit side of the sales account
credit side of the sales day book
debit side of the sales journal
debit side of the sales returns account

Choose Answer :

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

Purchases Journal
Purchases Returns Journal
Sales Journal
Sales Returns Journal

Choose Answer :

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

calculate profit or loss
check bank balance
check the accuracy of ledger entries
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:

current
exchequer account
government account
personal account

Choose Answer :

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

Bank charges
Opening balances in the Cash book
Unaccredited cheques D. Unpresented cheques

Choose Answer :

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

credit side of the Purchases account
credit side of the Sales account
debit side of the Purchases account
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:

contra-entry
drawings
gains
losses

Choose Answer :

(x) Which of the following is a liability?

Cash balance
Debtors
Loan from NBC
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 expenses 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
	Tshs. 2,500,000	Tshs 1,097,000	Tshs………..
	Tshs…………….	Tshs 10,000,000	Tshs 1,193,700
	Tshs 3,900,000	Tshs……..	Tshs 1,193, 700
	Tshs 25,698	Tsh 17,947,800	Tshs…….
	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 5^th 2010	Returned to Mandelako: One bag of maize at Tshs. 30,000.00, not suitable for consumption
Jan 10^th 2010	Returned to Godfrey: 2 dozen cooking oil at Tshs. 1,500.00 each, poor quality
Jan 20^th 2010	Returned to Kazimoto: 1 dozen blanket at Tshs. 5,000.00 per piece not of size ordered
Jan 25^th 2010	Returned to Godfrey: 5 dozen tins of baby milk at Tshs. 600.00 per tin, spoiled in transit
Jan 28^th 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 31^st 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 31^st 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

| Share To Friend(s) Washirikishe Wenzako |

Download Learning
Hub App

Menu

SECTION A

For Call,Sms&WhatsApp: 255769929722 / 255754805256