Financial Management and Accountancy (GSDR3113)
Higher Institute of Transport and Logistics (HITL)
Semester: First Semester
Level: 300
Year: 2018
QUESTION ONE (15 marks)
State and briefly develop on the three principles that drive financial decisions? (15 marks)
QUESTION TWO (15 marks)
On 1
st
April 2018 Mrs. FOTSO decided to regularly save every year CFAF187,000, as
from 1
st
April 2019, for 8 years. Knowing that the funds are remunerated by the bank at
6.20 % per year, determine the future value of his savings at the end of the 8
th
year (1
st
April 2026).
QUESTION THREE (15 marks)
A commercial enterprise purchases three products A, B and C from various wholesalers.
For the month of February 2018, the purchases were as follows:
-
Product A: 3,800 kg at 100 CFAF each;
-
Product B: 2,400 kg at 150 CFAF each;
-
Product C: 3,800 kg at 300 CFAF each.
For the same period, the general expenses amounted to 200,000 CFAF. The enterprise
calculates the cost price of each product so as to easily determine the selling price.
Work required: Determine the unit and total cost price of for each product knowing that
the enterprise envisages sharing the indirect expenses proportionally to the value of goods
purchased. (15 marks)
QUESTION FOUR (25 marks)
On 31
th
January 2018, FRITZ customer account showed a balance of 83,000 CFAF in a
company. During the month of February 2018, the following transactions were recorded
between the firms and his client FRITZ:
3
rd
February: Sales of good in cash, 154,000 CFAF (VAT inclusive). Cost of goods sold:
80,000 CFAF
12
th
February: Sales of goods: 90,000 CFAF (VAT exclusive) of which 40 % is paid in
cash whereas the balance is on account. Cost of goods sold: 70,000 CFAF 23
rd
February:
Sales of goods in cash 177,000 CFAF (VAT inclusive). Cost of goods sold: 100,000
CFAF.
27
rd
February: FRITZ made a payment that definitely settled his debt.
Work required: Journalize these transactions and establish customer FRITZ account
relatively to the transactions performed during the month of February 2018
THE UNIVERSITY BAMENDA
FIRST SEMESTER EXAMINATION
School/ Faculty: HITL Department: General Studies Lecturer(s): Mr. Nyobe
Level: 300 Semester: First Academic Year: 2017/2018
Course Code: GSDR3113 Course Title: Financial Mgt and Accountancy Hall: HITL 03,
04, 05 Date: 29.03.2018 Duration: 2 hours Time: 8:00 - 10:00
Instruction(s): Answer all questions.
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