Principles of Accounting (ACCC2101)

Higher Institute of Commerce and Management (HICM)

Semester: First Semester

Level: 200

Year: 2019

Answers (200 )
COURSE TITLE: PRINCIPLES OF ACCOUNTING
COURSE MASTER: ARMSTRONG-PEACE N F
CLASS: ACCOUNTANTING AND FINANCE LEVEL 200
2018/ 2019 RESIT EXAMINATIONS
TIME ALLOWED: 1 1/2 HOURS
Instructions to candidates: Answer all questions while showing all relevant preliminary calculations
Question 1 (70 marks)
The following transactions took place in KAHTIKAHTI Corporation during the month of January 2016.
1
st
Cash balance 2,500,000 FCFA. C-'b
2
nd
Invoice no 01 purchases from Kaba 1,500,000 FCFA.
4
th
Paid salaries and wages 500,000 FCFA
5
th
Made cash sales 1,500,000 FCFA.
7
lh
invoice no 03 sales to BloodofJesus Ltd 2,000,000 FCFA.
8
th
invoice no 02 purchases from Sabga Ltd 2,000,000 FCFA.
10
th
invoice no 04 purchases from ENDofTheRoad Pic 1,500,000 FCFAO"
12
th
invoice no 05 Sales to Ndonga 3,000,000 FCFA
15
th
Paid Kaba 500,000 FCFA. C t>
16
th
Paid Sabga Ltd 500,000 FCFA (Jo
17
th
invoice no 06 purchases from Kaba 1,000,000 FCFA
18
th
Received from BloodofJesus Ltd 1,500,000 FCFA 6
20
th
Received from Ndonga 2,000,000 FCFA
24
th
invoice no 07 purchases from ENDofTheRoad Pic 1,000,000 FCFA
25
th
invoice no 08 sales to Wumfall Ltd 2,500,000 FCFA
26
th
invoice no 09 sales to BloodofJesus Ltd 1,500,000 FCFA
27
th
paid electricity bill 100,000 FCFA
28
th
paid rents 500,000 FCFA
29
th
Cash sales 1,000,000 FCFA.
30
th
invoice no 010 sales to Ndonga 2,500,000 FCFA
31
st
Paid ENDofTheRoad Pic 500,000 FCFA
Work Required:
1.
Present the Cashbook (20marks)
2.
Present the sales and purchases daybooks (10 marks)
3.
Post the respective entries to the sales ledger and purchases ledger (15 marks)
4.
Present the sales and purchases ledger control accounts (10 marks)
5.
Extract the trial balance (15 marks)It is your attitude, not your aptitude, that determines your
altitude.
BE WISE, GOOD LUCK!!!
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