OHADA Financial Accounting 2 (ACCM3202)
Faculty of Economics and Management Science (FEMS)
Semester: Second Semester
Level: 300
Year: 2018
Section A; COST ANALYSIS
SECTION 1: DEPRECIATION OF FIXED ASSETS/15MRKS
The situation of the fixed assets of Fokou enterprise is presented as follows as at 31/12/2017
assets Services date ov Life span Depreciation
method
Computer
equipment
01/01/2015 6,000,000 4 years Constant
Office
equipment
20/01/2015 4,500,000 5 years Sum of years
digit
Transport
equipment
07/07/2014 9,000,000 5 years Reducing
balance
Agricultural
equipment
25/02/2014 10,000,000 5 years Service hours
(1)
(1) During its estimated life span, the machine was to work for 10,000hours divided as
follows: 4,000 hours in year one, 2,000 hours in year 2, 2000 hours in year 2, 1500
hours in year 4 and 500 hours in year 5
Work Required
1- Fill the table of depreciation in appendix 3(to be handed in your written paper)
2- Record the depreciation charges of 2017 in Fokou’s journal
SECTION 2: DEPRECIATION OF CURRENT ASSETS 25 marks
You are given the following financial situation extracted from the books of fasith shopping:
• Extract of trial balance as at 31/12/2016
Codes depreciations Debit Credit
411 customers 3,398,625
416 Doubtful customers 1,431,000
491 Depreciation of
doubtful customers
140,000
• Situation of customers as at 31/12/2017
customers Debts TI Settlement 2017 Depreciation
2016
Observations
NOUGA 1,192,500 954,000 100,000 Increase
provision by
50%
MISSE ? - ?(1) 178,875fcfa
might be
recovered
AFANA ? 477,000 - For good
NGONO 417,375 - May recover
80%
FOUSSA 2,385,000 - (2)
(1) This depreciation rate was 205
(2) FOUSSA’S Balance sheet is as follows
ASSETS LIABILITIES
THE UNIVERSITY OF BAMENDA
FACULTY OF ECONOMICS AND MANAGEMENT SCIENCES
2
nd
Semester Exam Course: Taxation: OHADA Financial Accounting 2: ACCT304
Credit Value:
Course Lecturers:
Time: Course Status: Date: 2018
Venue: Instruction:
www.schoolfaqs.net
231-commercial
building=6,000,000
Privileged debts= 4,500,000
245-transport
equipment=2,385,000
Un privileged debts ( including faith shopping)=
6,250,000
Work Required
1- Prepare the statement of customers
2- Make the adjustment entries as at 31/12/17 in the journal of Faith shopping
SECTION 3: THE MINIMUM CASH SYSTEM/ 30 marks
MAIGOD enterprise is a small-scale organization specialized in the purchase and sale of
goods, registration number 2202371346212-M, the organization follows the minimum cash
system.
The balance sheet as at the 31/12/2016 is presented as follows:
Assets Amount liabilities Amount
Equipment
Stock of goods
Customers
Bank
cash
1,500,000
4,440,000
340,000
10,000,000
2,850,000
Capital
Result
Borrowing
Suppliers
15,000,000
1,180,000
2,500,000
450,000
total 19,130,000 total 19,130,000
The summary of the various books as at 31/12/2017 are presented as follows
Summary of cash account as at 31/12/2017
depreciation revenue expenses balance Spreading of revenues
(nature of revenues)
Total(T) 18,000,000 14,000,000 6,350,000 sales Other
incomes
17,000,000 1,000,000
Summary of cash account as at 31/12/2017(continuation)
Spreading of expenses (nature of expenses)
Purchase of goods Purchase of
raw
materials
and other
supplies
Rent and
rental
expenses
salaries Taxes and
rates
Other
expenses
T 10,000,000 800,000 300,000 600,000 300,000 2,000,000
Summary of bank account as at 31/12/2017
particulars revenues expenses Balance Spreading of
revenues(nature of
revenues)
Total (T) 2,000,000 8,000,000
sales Other
incomes
Summary of the bank account as at 31/12/2017(continuation)
Spreading of expenses (nature of expenses
Purchase of goods Other
purchases
Rent and
rental
expenses
Salaries Taxes and
rates
Other
expenses
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T 1,000,000 1,000,000
Other information: other balances as at 31/12/2017 are as follows in fcfa
✓ Final stock of goods amounting to 4,050,000
✓ Customers account 430,000
✓ The equipment in the balance sheet acquired one year ago is to be depreciated over 5
years linearly.
✓ 500,000frs was paid within the year as borrowing
Work required
Fill as at 31/12/2017 the financial statement for organizations in appendix 1 and 2(to be
handed with your answer sheet)
NB: no additional information should be written on the appendixes.
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