Ordinary level 2025 South West regional mock financial accounting guide
Ordinary level 2025 South West regional mock financial accounting guide
MARKING GUIDE 2025 / 5005- / FINANCIAL ACCOUNTING
PAPER 1
| Q | Ans | Q | Ans | Q | Ans | Q | Ans | Q | Ans |
| 1 | C | 11 | C | 21 | C | 31 | B | 41 | C |
| 2 | B | 12 | C | 22 | B | 32 | C | 42 | C |
| 3 | C | 13 | C | 23 | A | 33 | C | 43 | B |
| 4 | D | 14 | B | 24 | C | 34 | C | 44 | B |
| 5 | A | 15 | C | 25 | C | 35 | D | 45 | C |
| 6 | D | 16 | B | 26 | B | 36 | B | 46 | D |
| 7 | B | 17 | B | 27 | A | 37 | A | 47 | B |
| 8 | A | 18 | B | 28 | C | 38 | C | 48 | A |
| 9 | C | 19 | C | 29 | D | 39 | A | 49 | C |
| 10 | A | 20 | A | 30 | D | 40 | B | 50 | D |
PAPER 2
QUESTION ONE: VALUE ADDED TAX
1.1 19.25% and 0% 12. These are goods and services which are not subject to VAT for example milk , bread
1.2 A taxable person is one who is registered under VAT, because the person carries out taxable transactions.
1.3 i. VAT invoiced=8000,000*0.1925 (0.5mk)
=1540,000 (0.5mk)
ii. VAT recoverable: (01/11/2018)- tax exclusive = 2 385 000/1.1925( 0.5mrk)
| =2000,000FCFA(0.5mrk) | ; | VAT =2 385 000 -2000 000= 385,000(1mrk) ; | ( 15/11/2018) – |
| Tax exclusive= 6,570,675/1.1925(0.5mk) | =5,510,000FCFA (0.5mk) | VAT =5,510,000 *0.1925= | |
| 1,060,675FCFA ( 1mk) | |||
| – | 26/11/2018-VAT=80,800* 0.1925FCFA (0.5mk) | = 15,554 FCFA(0.5mk) | |
| iii. VAT credit/dued = Total vat invoiced- total vat recoverable (1mk) | |||
| = 1540,000 -1461229(1mk) | VAT DUED =78771FCFAF(1mk) |
