OHADA Financial Accounting 1 (ACCM3102)
Faculty of Economics and Management Science (FEMS)
Semester: First Semester
Level: 300
Year: 2018
Section A; COST ANALYSIS
CASE ONE: MCQ; Choose the correct answer and write the letter (1x7=7mks)
1- Which accounting document is used to record daily transactions of the business?
a) Journal b) ledger account c) account with double column
2- The accounting system that enables the recording of transactions in several auxiliary
journal is called:
a) Standard system b) minimum cash system c) centralized system
3- Who bears the burden of VAT?
a) Consumers b) companies c) tax centers
4- Who is responsible of paying VAT to the state?
a) Consumers b) companies c) tax centers\
5- Document used to materialize purchase and sales transactions is called?
a) Invoice b) debit invoice c) credit invoice
6- What is the current principal rate of VAT in Cameroon?
a) 17.5% b) 19.25% c) 10%
7- During the month of May 2014, a company made total purchases of 4,000,000 frs and
total sales of 5,000,000frs. What is the VAT due for the period?
CASE 2: Reproduce and complete the following invoices (10mks)
Invoice No 004 Invoice No 007
Gross amount
Bonus 10%
Commercial net
Transport 100,000
VAT 19.25%
Net payable
1751750
Gross amount
Bonus 5% and
X%
Commercial net
Transport
VAT 19.25%
Net deductible
10,000,000
690,000
10,000
CASE THREE: Record the following invoices for Maigod enterprise
Debit invoice number 004 issued on
5/01/2018
Credit invoice No 007 issued on 08/01/2018
Gross amount
Bonus 10%
Commercial net
Transport
VAT
19.25%
Net Payable
10,000,000
1,000,000
9,000,000
100,000
1751750
10851750
Gross amount
Bonus 10%
Commercial net
Transport
VAT
19.25%
Net Payable
1,000,000
100,000
900,000
1,000
175175
1,085,175
NB: mark up rate on sale 20%. All payments were done by cash
The credit invoice was issued for the part of goods sold on the 05/01/2018. Transport was paid
by the customer on behalf of the supplier.
THE UNIVERSITY OF BAMENDA
FACULTY OF ECONOMICS AND MANAGEMENT SCIENCES
1
st
Semester C.A Course: OHADA Financial Accounting
Credit Value:
Course Lecturers:
Time: Course Status: Date: 2018
Venue: Instruction:
www.schoolfaqs.net
