OHADA Accounting 1 (ACCC3107)
Higher Institute of Commerce and Management (HICM)
Semester: First Semester
Level: 300
Year: 2017
REPUBLIC OF CAMEROON REPUBLIQUE DU CAMEROUN
Peace work Fatherland Paix-Travail-Patrie
THE UNIVERSITY OF BAMENDA UNIVERSITE DE BAMENDA
Higher Institute of Commerce and Institut Superieur De Commerce
Management(HICM) Et Management
P.O. BO. 64 Bambili
COURSE: OHADA ACCOUNTING I
LEVEL 200, FIRST SEMESTER 2016/2017 EXAMINATION
COURSE MASTER: ARMSTRONG-PEACE N F
TIME ALLOWED: 3 HOURS
Instructions to candidates: Answer all questions
QUESTION 1 (50 Marks)
The balance sheet of God’s FAVORITE Ltd is made up of the following elements;
Building 400,000 FCFA.
Service equipments 242,000 FCFA
Suppliers 276.000 FCFA
Lack of goods 372,000 FCFA
Installations 240,000 FCFA
Costumers 238,000 FCFA,
Transport equipment 284,000 FCFA,
Tools 250,000 FCFA
Bulk 236,000 FCFA,
Cash in hand 202,000 FCFA,
Digital 888,000 FCFA.
On the 1
st
to the 20
th
of March 2017, the following transactions were realized by the enterprise;
1
st
Purchase of goods by cash................................. .........210,000 FCFA
2
nd
Paid new installations by cheque.................................208,000 FCFA
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3th Purchase of a calculator by cheque ………………...206,000FCFA
4
th
Purchase of office, equipment on credit........................240,000 FCFA
5
th
Purchase of goods on credit. ………….........................212,000 FCFA
6
th
Withdrawal of cash from bank........................................204,000-FCFA
12
th
Received new loan through bank transfer.....................208,000 FCFA
15
th
Increase of capital by bringing in additional cash…….220,000 FCFA
19
th
Sales of goods for 420,000.2/5 of the amount was paid by cash and the rest by bank. The total
purchase price of the sold amounted to 380,000 FCFA
20
th
Settlement of suppliers by cheque…………………………204,000FCFA
Work Required
1. Prepare the opening balance sheet of this enterprise (5 marks)
2. Record the transactions on the Journal (5 Marks)
3. Transfer the operations of the period including those of the open balance sheets on the T or ledge
accounts(5 marks)
4. Present the six months trail balance( 5 Marks)
5. Present the income statement (5 marks)
6. Present the closing balance sheet. (5 marks)
QUESTION 2(20 MARKS)
NGULE started a small trading business in the Limbe main market on the 1
st
of February with a capital of
FCFA 16,000. During the month of April 2017, The following transactions took place.
5
th
Paid rent FCFA 2,000
5
th
Sold goods for FCFA 25,000 cash
15
th
Deposited FCFA 9,000 into bank account
7
th
Withdrawal of FCFA 1,000 from the cash account for personal use
8
th
Received from Adamu FCFA 30,900 being part payment of goods sold on credit
10
th
Cash sales FCFA 32,000
11
th
Paid advance wages in cash FCFA 15,000
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13
th
paid Muna a supplier for his account FCFA 8,000
15
th
Bought goods for sale by cash FCFA 16000
20
th
Cash sales FCFA 55,000
21
st
paid Kika Ltd FCFA 25,000
22
nd
paid for office expenses FCFA 22,000
24
th
paid kemeni FCFA 20,000
25
th
Cash sales FCFA 45,000
26
th
Received from Ojong Ndip FCFA 22,500
28
th
Siben Ltd paid his account for FCFA 20,000,
30
th
Cash sales FCFA 15,000
30
th
paid balances of wages FCFA 15,000 cash
31
st
Cash purchases FCFA 12,000
Work Required:
1. Present the cash book with separate columns (10 Marks) ~
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