OHADA Financial Accounting 2 (ACCM3202)
Faculty of Economics and Management Science (FEMS)
Semester: Resit
Level: 300
Year: 2017
Section A; COST ANALYSIS
Case study one; /30 marks
You are provided with the following information in RGO’s Enterprise:
Situation of Bank A/C RGO’s Enterprise.
Date Particulars Amount Date Particulars Amount
1/12 Balance B/F 268,000 3/12 Cheque No. 216 300,000
4/12 Cash deposit 365,000 7/12 Payment of supplies 270,000
8/12 Cheque No. 1314 400,000 14/12 Advance salaries 450,000
16/12 Bank transfer 190,000 20/12 Cheque No. 217 220,000
20/12 Cheque No. 1315 410,000 28/12 Cheque No. 218 360,000
26/12 Cheque No. 1316 240,000 30/12 Payment of water bill 280,000
27/12 Bill for discount 420,000 30/12 Balance 413.000
Total 2,293,000 Total 2,293,000
Bank statement of BICEC Bamenda of RGO’s Enterprise
Date Element Debit Credit Balance
1/12 Initial balance B/F - - 268,000
2/12 Cheque No. 1314 - 400,000 668,000
4/12 Cheque No. 216 300,000 - 368,000
8/12 Payment of supplies 270,000 - 98,000
9/12 Cash deposit - 356,000 454,000
14/12 Advance salaries paid 450,000 - 4,000
22/12 Cheque No. 1315 - 410,000 414,000
26/12 Net bill discounted - 400,000 814,000
28/12 Payment of water bill 280,000 - 534,000
30/12 Bank interest - 30,000 564,000
Bank charges 50,000 - 514,000
Required:
1. Present the Bank reconciliation statement of RGO’s enterprise. (20 marks)
2. Make the necessaries adjustment entries in the journal of RGO’s enterprise as at
31/12/2016. (10 marks)
Case study two: / (40 marks)
The extra-trial balance of AGRIC Ltd before inventory as at 31/12/2016 is given as follows;
A/C Headings Debit Credit
2011 Establishment expenses 300,000
2421 Agric. equipment 9,600,000
245 Transport equipment 15,900,000
2842 Depreciation of agric. equipment 5,760,000
THE UNIVERSITY OF BAMENDA
FACULTY OF ECONOMICS AND MANAGEMENT SCIENCES
Resit Course: OHADA Financial Accounting: ACCT304
Credit Value:
Course Lecturers:
Time: Course Status: Date:
Venue: Instruction:
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2845 Depreciation of transport equipment 17,197,500
Additional information
➢ The agric. equipment was acquired at the formation of the company and depreciated linearly
at 15%
➢ The transport equipment includes:
- A HILUX 2.8 acquired on 01/9/2009 for 9,900,000F tax exclusive and is depreciating in respect
of the linear method
- a DYNA 100 acquired on the 10/07/2014 and is depreciated in respect of the reducing balance
method with net accounting value being 14,400,000F as at 1/1/2015
- A delivery van acquired on the 1/3/2016 for 14,310,000F tax exclusive and is depreciated in
respect to the reducing balance method with life span of 10 years. However, on that entry date,
the accountant who was steel a learner debited 485 and credited 245 with the entry value tax
exclusive for the acquisition done by cash
➢ the establishment expense was incurred on the 12/08/2014 and was too depreciate linearly for
5 years
Work required:
1) Determine the date the company was formed. (10 marks)
2) determine for DYNA100:
a) the original value (5 marks)
b) the rate of depreciation and (5marks)
c) the life span (5 marks)
3) make the necessary adjusting entries in the journal of AGRIC Ltd (15 marks)
NB: candidates should present all preliminary calculations
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