LEARNING HUB TANZANIA

BOOK-KEEPING - TERMINAL EXAMINATION

FORM TWO

TIME: 2HRS                                                                                                        

NAME:______________________________________                    CLASS:___________

INSTRUCTIONS

-          Answer all questions

1. Multiple choice

i)                    Which of the following should not be called sales?

1. Goods sold to be paid for in one month time
2. Goods sold cash being received immediately
3. Items previously included purchases now sold on credit
4. Sale of motor lorry not now required

ii)                  Which of the following should not be called purchases?

a)      Items bought for the prime purpose of re-sales

b)      Goods bought on credit

c)      Office stationary purchased

d)      Goods bought for cash

iii)                Which of the following is not a book of original entry?

1. Cash book
2. Purchases journal
3. Returns outward journal
4. Sales ledger

iv)                The total of the discount allowed in a cash book is posted to the

1. Credit of the discount allowed account
2. Credit of the discount received account
3. Debit of the discount allowed account
4. Debit of the discount received account

v)                  The document which gives description of goods bought on credit is

1. Credit note
2. Debit not
3. Invoice
4. Receipt

vi)                A cash discount is described as a reduction in the sum to be paid if payment is made

1. For cash only
2. By cash not by cheque
3. For cash not for credit
4. Within a previously agreed period

vii)              Suppliers personal accounts are found in

1. Nominal ledger
2. General ledger
3. Sales ledger
4. Purchases ledger

viii)            The total of the returns outwards journal is transferred to the

1. Credit side of the returns outwards account
2. Debit side of the returns outwards account
3. Credit side of the returns outwards book
4. Debit side of the returns outwards book

ix)                A profit percentage which is calculated on sales is called

1. Gross profit
2. Net profit
3. Mark up
4. Margin

2. Matching items

3. Give five(5) advantages of petty cash book

i)                    ______________________________________________________________________

ii)                  ______________________________________________________________________

iii)                ______________________________________________________________________

iv)                ______________________________________________________________________

v)                  ______________________________________________________________________

4. Indicate whether the following accounts are nominal , real or personal accounts

SECTION C

5. Enter the following transactions in the purchases Journal and purchases returns Journal and thereafter post to the ledger.

May 1. Purchased a stock of 100 shirts at Tsh 1,200 each from Menya Textiles

7. Purchase from Kamila: 1dozen trousers at Tsh. 15,00 per trouser. 20 dresses at Tsh 20,000 each and 30 shirts at Tsh. 4000 each. A trade discount of 20% was allowed on all goods.

8. Returned to Menya Textiles 5 shirts and received a credit note.

10. Purchased 10 dozen towels from Towel distributors at Tsh. 60 per dozen. A trade discount is 25%

11. Returned to Kamila 5 shirts

31. Purchased from kathian 50 bed sheets at Tsh. 4000 each at a trade discount of 25%

6.   Write up a three column cash book from the following 2015

       May 1: balances brought forward

                      Cash                                             4,600

                       Bank                                            9,300

                3. Bought goods by cheque                  2800

                5. Cash sales to date                              4400

                8. Banked cash                                      2500

              10. paid by cheque the following receiving a cash discount of 5% in each case

                       John                                               1600

                       Herman                                           3000

                        Jackson                                          1400

            12.  Received by cheque the following, allowing a discount of 3% in each case

                                Simon                                            4000

                             Berna                                               3000

                             Mathew                                            2000

                 14. Bought furniture by cheque                   2900

                 16. Cash drawings                                       1000

                 18. Cash sales paid direct into bank            3500

                  22. Paid salary by cash                               1500

                 25. Cashed cheque                                       1800  

                 26. Paid Andrew by cash, less 4% cash discount 2000

                 28. Received cash from smith, less 4%

                             Cash discount                                   2500

                 30. Paid wages in cash                                 1300         

7.       Record the following in the petty cash book, balance it and post to the appropriate ledger accounts, and show the amount to be reimbursed to the petty cashier at the end of the week.

January   1.  Received from main cashier                      300

                 2. Paid bus fares                                              35

                 3. Bought postage stamps                               50

                 4. Bought sundry stationary                            25

                 5. Paid wages                                                  30

                  6. Paid taxi fare                                              50

                  7. Paid postage and telegrams                        30

LEARNINGHUBTZ.CO.TZFORM TWO BKEEPING MODAL SERIES 5