(i) An officer in public service who controls public money is called
When cash is paid into the bank the effect is:
(iii) The total of sales Journal is entered on the:
(iv) Purchases invoice provides information to be entered in:
(v) A Trial Balance is prepared in the business in order to:
(vi) An account where revenues collected by the Government are deposited before allocating to the Accounting officers is known as:
(vii) Which of the following is listed in the bank statement but not in the Customers Cash book?
(viii)The total return inwards is posted to the:
(ix) The cash or goods taken from the business by the owner for personal use are known as:
(x) Which of the following is a liability?
2013 - BOOK-KEEPING
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
(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 (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
|
SECTION B
3.Mention five types of Government revenue
View Ans4.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 |
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 Ans6.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 |
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