Ordinary level 2025 South West mock international financial accounting 2
Ordinary level 2025 South West mock international financial accounting 2
SSr Required: 51–“– .––
You are required to calculate the yearly depreciation of the machine, showing clearly balance remaining in the
account at the end of each of the five years under:
| i) Straight line method | ii) Reducing balance method | (lOmsrks) |
| >) The following is a data from DIVINE TOUCH factory for the year ended 31/12/2021 | ||
| FCFA(000) | Inventory as at 01/01/2021 Raw material |
|
| Work in progress | 6,500 | |
| 27,300 | ||
| Direct expenses | 12,340 | |
| 43,000 | Direct labour | |
| 17,300 | Factory utilities | |
| Rent: factory % , office V* | 12,000 | |
| Indirect labour | 15,000 | |
| Purchases of raw materials | 250,000 | |
| Factory equipment at cost Additional information: |
200,000 |
– Inventory as at 31/12/2021
– Raw material 20.320.000FCFA
6,890,000FCFA
25.400.000FCFA
– Work in progress
– Finished goods
– Direct labour accrued 500.000FCFA
(Total 20 mirks
| under cast by 3,400,000 — – – — t –nt receive account has been under cast by 400 000 |
”
c ^ received 487.000FCFA had been entered on A •.
1 phases of lorry by cheque of 43,0Q0,000FCFA had been“completely * Sldeoftheinth omittedefrom account the books
^1fptpare prepare the the journal suspense entries account necessary to correct the errors and omission ‘ ((10 5 marks mark))
information is from TENBY tennis club for the year ended 31/12/7099
| Balance as at 1/1/2022 (FCFA) |
1 | : Balance (FCFA) as at 31/12/2022 |
Subscription in arrears |
| Subscription paid in advance | 180,000 | | 260,000 |
During the year, cash receipt in respect of subscription amounted to 3,220,000FCFA.
Required:
a) Prepare the subscription account of TENBY tennis club for the year ended 31/12/2022 (5 marks)
fTotal 20 marks)
140,000 230,000
8. LUCY , FRIDA and DEPITA are partners. For the first year of trading, ended 31/12/2020 earned a profit of
100.500.000FCFA.
They share profit and losses in the ratio of 2:2:1 respectively. The information of the partnership is as follows:
| Capital | Drawings | |
| LUCY | 30,000,000 | 8,000,000 |
| FRIDA | 30,000,000 | 12,000,000 |
| DEPITA | 15,000,000 | NIL |
Following are then terms of the partnership
I• Drawings are charged at the interest of 6a/0salary p.a of,500.000FCFA—*
Required: . . .
a) Prepare the profit and loss appropriation account
b) Prepare the current account of the partners
c) Prepare the capital account of the partners
(10 marks)
(6 marks)
(4marks)
(Total 20 marks)
