cameroon gce advanced level 2025 financial accounting 2

 

SECTION A: FINANCIAL ACCOUNTING (OHADA)

 

1. The bank account of SAMI Plc and bank statement from JIMY Bank carry the following information:

• Bank Account of SAMI Plc
  • Date: 01/12/24, Description: Balance brought down, Amount: 20,000,000
  • Date: 08/12/24, Description: Cash deposit, Amount: 40,000,000
  • Date: 10/12/24, Description: Bill N° 111 for discounting, Amount: 18,000,000
  • Date: 15/12/24, Description: Cheque for collection, Amount: 7,000,000
  • Date: 20/12/24, Description: Cheque N° 450, Amount: 6,000,000
  • Date: 03/12/24, Description: Cheque N° 451, Amount: 10,000,000
  • Date: 06/12/24, Description: Cheque N° 452, Amount: 22,000,000
  • Date: 11/12/24, Description: Cheque N° 453, Amount: 13,000,000
  • Date: 25/12/24, Description: Balance carried down, Amount: 34,000,000
• Bank Statement from JIMY Bank
  • Date: 01/12/24, Description: Balance brought down, Debit: , Credit: , Balance: 25,000,000
  • Date: 03/12/24, Description: Cheque N° 401, Debit: 5,000,000, Credit: , Balance: 20,000,000
  • Date: 07/12/24, Description: Cheque N° 451, Debit: 10,000,000, Credit: , Balance: 10,000,000
  • Date: 09/12/24, Description: Cash deposit, Debit: , Credit: 40,000,000, Balance: 50,000,000
  • Date: 12/12/24, Description: Bill N° 111 discounted, Debit: , Credit: 17,500,000, Balance: 67,500,000
  • Date: 14/12/24, Description: Cheque N° 452, Debit: 22,000,000, Credit: , Balance: 45,500,000
  • Date: 18/12/24, Description: Domiciliation of Bill N° 50, Debit: 4,000,000, Credit: , Balance: 41,500,000
  • Date: 18/12/24, Description: Domiciliation charges, Debit: 500,000, Credit: , Balance: 41,000,000
  • Date: 22/12/24, Description: Customer’s transfer, Debit: , Credit: 3,000,000, Balance: 44,000,000
  • Date: 25/12/24, Description: Collection of coupon, Debit: , Credit: 1,000,000, Balance: 45,000,000
  • Date: 29/12/24, Description: Bank charges, Debit: 750,000, Credit: , Balance: 44,250,000

Required:

i. Prepare a bank reconciliation statement as at 31/12/2024 using appendix 1. (12 marks)

ii. Record the adjustment of the bank reconciliation in the journal of SAMI Plc. (8 marks)

(Total 20 marks)

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2. The situation of doubtful and non-recoverable debts in CLEKO enterprise is provided below:

• 4162: doubtful customers: 1550,250 CFAF
• 4912: Impairment of customers account: 580,000 CFAF

Debtors	Debts VAT inclusive	Impairment 31/12/23	Impairment VAT inclusive	Observations as at 31/12/24
TOM	834,750	40%	357,750	Set impairment at 35%
PANG	477,000	60%	119,250	For good
ABDUL	?	60,000	–	Carry provision to 40%
NNEH	596,250	–	–	(1)
NDZI	215,650	–	–	Matter taken to court

(1) The financial situation of NNEH revealed the followings

• Assets: 22,000,000 CFAF
• Privilege debts: 10,000,000 CFAF
• Ordinary debts including (NANTC PLc): 20,000,000 CFAF
• NB: NNEH and NZDI were not present as at 31/12/2023

Required:

i. Determine the debt of ABDUL (2 marks)

ii. Present the statement of doubtful customers as at 31/12/24 using appendix 2. (12 marks)

iii. Do the necessary journal adjustments (6 marks)

(Total 20 marks)