Advanced level 2025 South West mock financial accounting 2
Advanced level 2025 South West mock financial accounting 2
Bank statement of SGC Kumba for Papinobi Ltd
| Elements Initial balance B/F Date 1/12 2/12 Cheque No. 1314 4/12 Cheque No. 216 Payment of Supplies Cash deposit 8/12 9/12 14/12 Advanced Salaries rheaue No.1315 22/12 Net Bill discounted Payment of water bill Bank interest Bank charges 26/12 28/12 30/12 31/12 |
| Debit Amount I Credit Amount Balance |
| 268.000 668,000 368,000 98,000 454,000 4,000 414,000 814,000 534,000 564,000 514,000 I |
|
| 400,000 | |
| 300,000 270,000 |
|
| 356,000 | |
| 450,000 | |
| 410,000 4OO.O0O |
|
| 280,000 50,000 |
|
| 30,000 | |
| Additional Informado ^ |
tax exclusive as annual insurance on the01 /08 /2023 by cash . On the |
| The corn ^>an ^g g^pany is still to grant bonus of 5%for sales amounting to 9,778 ,500 FCFA tax inclusive . |
_ VAT19.25 %. Required: (12 marks)
(8 marks)
(Total 20 marks)
VU. statement and the journal entries
Present the bank reconciliation
ab)) Present the necessary adjusting entries
ended 31/12/2023 is as follows
4—Th^shbook of Bokantai Enterprise
| Amount Credit | Amount 10,000,000 |
| 5.200,000 16,000,000 |
7,560,000 |
| 3,000,000 9,640,000 |
Expenses Purchases Balance c/d 9,000,000 |
| 30,200,000 | |
| Suppliers |
for the year Debit Balance b/A
Customers
Sales
| Total Additional information: Elements Stock of goods |
30,200,000 1 Total | 31/12/2023 3,250,000 |
| 01/01/2023 7,250,000 |
||
| Debtors | 4,200,000 | 5,300,000 |
| Trade creditors | 4,100,000 | 3,800,000 |
Computer equipment for 1,800,000 FCFA was depreciated at 10% per year using the straight line method.
Required
a) Prepare a statement of affairs as at 01/01/2023.
b) Calculate the amount of sales and purchases for the year ended 31/12/2023.
c) Present Bokantai’s Enterprise profit and loss account for the year ended 31/12/2023.
(7 marks)
(7 marks)
(6 marks)
(Total 20 marks)
5. The trial balance extract from the books of OREMAN Limited as at 31/12/2023 is a follows:
| Details | Debit (FCFA 0001 | Credit (FCFA 0001 |
| Sales | 485,000 | |
| Purchases | 427,000 | |
| Inventory as at 01/01/2023 | 120,000 | |
| Wages and salaries Shop fittings at cost acquired on 01/01/23 Provisions for bad debts |
21,200 72,000 |
800 |
| Capital | 140,000 | |
| Loan | 7,000 | |
| Debtors and creditors | 9,500 | 16,900 |
| Total | 649,700 | 649,700 |
Additional information:
• Stock as at 31/12/2023 is 210,000,000 FCFA
• Accrued wages 5,200,000 FCFA
• Provisions for bad debts to be increased by 5%
• On the 31/12/2023, interest of 520,000 was due on tho loan
• Depreciation of shop fittings for 15% using tho straight line method
Required:
a) Prepare a statement of profit and loss account for the year ended 31/12/2023
b) Prepare a statement of financial position as 31/12/2023.
(13 markj)
(7 marks)
(Total 20 marks)
