Principles of Accounting (ACCC2101)
Higher Institute of Commerce and Management (HICM)
Semester: First Semester
Level: 200
Year: 2018
UNIVERSITY OF BAMENDA
HIGHER STITUTE OF COMMERCE AND MANAGEMENT (HICM)
PRINCIPLES OF ACCOUNTING ASSIGMENT
LEVEL 100, FIRST SEMESTER 2017/2018
INSTRUCTIONS: Answer all questions
Mr. Fon started a small trading business in the Bamenda main market on the 1
st
of March 2016 with a
capital off FCFA 16000. During the month of march 2016, the following transactions took place
2
nd
Bought goods on credit from Muna worth FCFA 10,000 f
5
th
Paid rent FCFA 2.000
5
th
Sold goods for FCFA 25,000 cash
6
th
Deposited FCFA 9,000 into bank account
6
Th
Bought goods worth FCFA on Credit from Kemeni
6
th
Sold goods on credit to Adamu FCFA 40,000
7
th
Drew 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
12
th
Bought goods worth FCFA 50,000 on credit from Kika Ltd
13
th
paid Muna a supplier for his account FCFA 8,000
15
th
Bought goods for sale by cash FCFA 16,000
20
th
Cash sales FCFA 55,000
21
st
paid Kika Ltd FCFA 25,000
22
nd
paid for office expenses FCFA 22,000
23
rd
Sold goods on credit to Siben Ltd FCFA 27,000 and Ojong Ndip FCFA 22. 500
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. Draw the relevant accounts and ledgers (20 Marks) •,
2. Examine the trial balance(10 Marks)
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