O level south west regional mock gce 2022 accounting 2

O level south west regional mock gce 2022 accounting 2

O level south west regional mock gce 2022 accounting 2

SECTION A; OHADA ACCOUNTING
Answer any THREE questions from this section
1. You have just been recruited as an accountant in the company ‘CHICCO LTD’. The company has
specialised on buying and selling of provisions. It has its headquarter in LIMBE, PMB 70, Tel 333-22-
25, Bank Account No 012 SGBC Limbe. The manager, Mr Emile handed to you the following files;
– Order placed by Jude on 10/03/2022 to CHICCO:
• 50 cartons of perfume Avon at 17,000 CFAF each
• 10 cartons of Lender at 15,000 CFAF each
– Invoice sent to Jude on 22/03/2022:
• 50 cartons of perfume Avon at 17,000 CFAF each
• 10 cartons of Lender at 15,000 CFAF each
At the following conditions: Trade discount 10% and 5%, Cash discount 1%, VAT 19.25% (round to
the nearest unit) mode of payment: half by cash (voucher No 007) and the rest by bank cheque No 07
on the 25/03/2022. Mark up rate on selling price 25%.
Required:
a) Prepare the invoice No 002
b) Present the bank cheque No 07 (Appendix 1)
c) Make the journal Entries in the books of CHICCO LTD.

2. The following information concerns the movements of crates in MARLIA & SONS Enterprise:
01/01/2022: Initial stock in the warehouse is 760 crates and 540 crates with customers
04/01/2022: Consignment Note N° 011 to customer BUN, 360 crates.
05/01/2022: Purchases of containers: 1980 crates
10/01/2022: Customers EBUA returns 620 crates
11/01/2022: Broken crates from the warehouse amount to 90
12/01/2022: Unretumed crates sold to BUH: 120 crates
It is indicated that:
– Crates are bought at the cost of 3 000 CFAF
– Consignments are made at the price of 3 200 CFAF
– The selling price of a crate is equal to the consignment price.
– All transactions are made in cash.
Required:
a) Enter this information in the Stock Card (appendix 2)
b) Journalise the above stock card for MARLIA and Sons.