Financial Accounting 1 (OHADA) (ADTT2101)
Administrative Techniques - ADT
Semester: First Semester
Level: 200
Year: 2017
Instruction: Answer all questions showing clear workings and answers at each stage.
Only non-programmable calculators are allowed.
QUESTION ONE:
Bamboo Charcoal Plc (P.O Box 3362, TEL: 675644221, Bonaberi Douala, Tanker: BICEC bank
Akwa) is a company under the actual earnings Taxation System and it specializes in buying and
selling of goods and services. In the course of January 2015, Bamboo Charcoal Plc carried out the
following transactions:
02/01/2016 – Debit invoice No. 2631AS sent to LANGERMAN Enterprise (P.O Box 2311
Yaounde, TEL: 677718140) consisting of the following items:
✔ 400 bags of cement at 6000frs each
✔ 600 bags of rice at 16,500frs each
✔ 25 bails of zinc at 7000frs each
✔ Rebate 12%
✔ Cash Discount 5%
✔ Transport Invoice 6000,000F
✔ Consignment: 800 000F
✔ Advance Payment: 2,500,000F
✔ VAT?
✔ Payment: 2,500,000frs by cheque no 2310 and the balance by bill of exchange payable
45days from end of month.
10/01/2016 – Credit invoice No. 2231MP sent to LANGERMAN Enterprise due to uneven
quality of Goods
✔ Cement 100 bags
✔ Zinc 07 bails
✔ VAT?
15/01/2016 – Credit invoice No. 2065BHR to LANGERMAN Enterprise for poor quality of
Rice
✔ Trade Discount: 10%
✔ VAT?
18/01/2016 – Cash Voucher No. 6-Expenditures:
✔ Electricity bill including consumption (310 KWH at 300frs each and meter renting of
30,000frs)
✔ Settlement of transport equipment bought in (December 2015) at 2,385,000frs
✔ Hotel bills: 460,000frs
REPUBLIC OF CAMEROON
Peace -Work – Fatherland
UNIVERSITY OF BAMENDA
HIGHER TECHNICAL TEACHER TRAINING
COLLEGE (H.T.T.T.C ) BAMBILI-BAMENDA
P.O BOX 39 BAMENDA
TEL: 33 36 36 94
REPUBLIQUE DU CAMEROUN
Paix -Travail – Patrie
UNIVERSITE DE BAMENDA
ECOLE NORMALE SUPERIERE DE
L'ENSEGNEMENT(ENSET) DE BAMBILI-
BAMENDA
P.O BOX 39 BAMENDA
TEL: 33 36 36 94
SCHOOL/FACULTY: H.T.T.T.C DEPARTMENT: ADMINISTRATIVE TECHNIQUES
COURSE CODE: ACY111 COURSE TITLE: FINANCIAL ACCOUNTING 1 (OHADA) OPTION: ACY, MKT, MGT
SEMESTER: NATURE: LEVEL: 100
LECTURER: Mr. Atem Valery DATE: APRIL 2017 HALL: DURATION: 2HRS
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✔ VAT?
25/01/2016 - Credit advance No. 89, received from BICEC bank
✔ Cash deposit: 6,500,000F
✔ Interest on Saving Account: 296,000F
✔ Rent of a warehouse: 500,000F
✔ Vat: 173,250F
30/01/2016 – Cash Voucher No. 39 – expenditures:
✔ Machine oil: 600,000F
✔ Fiscal stamps: 160,000F
✔ Office Stationery: 580,000F
✔ Fuel: 1,640,000F
✔ Commissions on purchase: 500,000F
✔ VAT?
WORK REQUIRED:
i. Journalize the above transactions in the book of Bamboo Charcoal PLC.
ii. Determine the VAT to be paid in the month of January for 2016.
N.B: Bamboo Charcoal applies a markup on sales of 25% and she also has vans that transport
goods bought by customers.
QUESTION TWO:
The following items were available in the balance sheet of JOVA enterprise on 31/12/2015
AC
CODE
Titles of Accounts
Movements(0) Balances(0)
DR CR DR CR
103 Personal capital 300000 300000
162 Loans from financial inst. 100000 200000 100000
235 Office fittings 450000 450000
271 Deposits for Electricity 340000 340000
401 Suppliers 90000 140000 50000
4091 Suppliers advance (TINA) 5500 5500
411 Customers 405000 250000 155000
4191 Customers Advance (AZANA) 75000 75000
521 Local Banks 363000 95500 267500
571 Head Office Cash 5000 3000 2000
627 Advertisement Expense 10000 10000
660 Personnel Expense 195000 195000
701 Sales 900000 900000
TOTAL 1963500 1963500 1425000 1425000
JOVA enterprise carried out the following transactions in the course of February 2016:
02/02/16: Long term loan received from the bank (1,250,000F)
02/02/16: Purchase of transport equipment on credit (2,500,000F)
05/02/16: Purchase of goods from TINA enterprise (1,500,000F)
12/02/16: Postal cheque received from a customer (100,000F)
15/02/16: Lawyer frees paid by cash (40,000F)
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18/02/16: Cash withdrawal from bank (850,000F)
21/02/16: Electricity bill for the month (600,000F)
23/02/16: Sales of goods to AZANA (205,000F)
25/02/16: Bank cheque issued to suppliers (3,500,000F)
26/02/16: Cash contribution by JOVA enterprise (8,000,000F)
28/02/16: Transport invoiced by bank cheque (520,000F)
VAT: 19.25%
REQUIRED:
1. Journalize the above transactions carried out by JOVA enterprise in the course of February
2016.
2. Extract a Six column trial balance for JOVA enterprise as at 29/02/16.
3. Prepare the Financial statements of JOVA enterprise as at 29/02/16.
QUESTION THREE:
The following information is given to you concerning NPORIDA Enterprise (P.O Box 156,
Yaounde, TEL: 32222342, SCB-CL bank account No. 069524) that specializes in the buying and
selling of household equipment.
REF ARTICLES UNIT PRICE
Re Refrigerator 250,000F
Ref Fridge Freezer 320,000F
Tev Flat screen television 300,000F
Co Cooker 200,000F
Ac Air Condition 150,000F
Ku Kitchen Utensils 120,000F
Dt Dining Table 180,000F
Com Computer 350,000F
Delivery: establish
invoice No. V805
Order form No. 038 on 05/03/2014
Ref Description Unit Q Observation
Re Refrigerator Article 10
Tev Flat Screen Television Article 20
Ac Air condition Article 10
Dt Dining table Article 10
HONAC ENTERPRISE
HONAC ENTERPRISE P.O BOX. 1280 BAFFIA
TO
NPORIDA. P.O Box 156 Yaounde
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ELEMENTS OBSERVATIONS
Reductions
• Trade discount of 8% when sales value is below or equal to 2,500,0000F
• Trade discount of 10% when sales value is above 2,500,0000F
• Rebate 6%
• Cash discount 3%
Transport Transport is performed through our delivery Van and invoiced to the customer at
10% on the commercial net.
Payment
• Cash payment when the amount is below or equal to 3,000,000F
• 2/5 by bank cheques and the balance on credit for 60days from the end
of the month when amount is above 3,000,000F
VAT 19.25%
WORK REQUIRED:
1. Draw the invoice No. V805 on 08/03/2014
2. Journalize the above transaction in the books of NPORIDA Enterprise.
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