Ordinary level 2025 South West regional mock International financial accounting guide
Ordinary level 2025 South West regional mock International financial accounting guide
| BALANCE B/F | 26,540 | RECEIPT FROM CUSTOMER |
600570 |
| CREDIT SALES | 668,187 | DISCOUNT ALLOWED | 5,520 |
| REFUND | 5,070 | SET OFFS | 70 |
| BAD DEBTS | 780 | ||
| CREDIT NOTES | 4,140 | ||
| PART PAYMENT | 800 | ||
| BALANCE C/F | 87,917 | ||
| 699,797 | 99,227 |
(8 marks)
| PURCHASES LEDGER CONTROL ACCOUNT | |||
| 000FCFA | 000 FCFA | ||
| PAYMENTS TO SUPPLIERS | 503,970 | BALANCE B/F | 34500 |
| DISCOUNT RECEIVED | 3,510 | CREDIT PURCHASE | 596,600 |
| SET OFFS | 70 | ||
| CREDIT NOTES | 1,480 | ||
| BAL. C/F | 122,070 | ||
| 631,100 | 631,100 |
(8 marks)
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P a g e 2 | 8
b)
To verify the ledger accrued balances
To detect errors
To improve on internal control
To simplify reconciliation (4 marks)
2. a)
| UPDATED CASH BOOK | |||
| 000FCFA | 000 FCFA | ||
| BAL. B/D | 3,437 | BANK CHARGES | 47 |
| CHEQUE | 93 | BAL. C/D | 3,483 |
| 3,530 | 3,530 |
(10 marks)
| Bank Reconciliation Statement | ||
| 000fcfa | 000fcfa | |
| Balance as per Bank Account | 3127 | |
| uncredited cheques | ||
| M NDOLO | 319 | |
| D BENZ | 246 | 565 |
| UNPRESENTED CHEQUES | ||
| B. MBAKO | -209 | |
| BALANCE AS PER CASH BOOK | 3483 |
(10 marks)
3.
| KEDI PLC INCOME STATEMENT FOR THE PERIOD ENDING 31/12/2020 | |
| 000FCFA | 000FCFA |
| SALES | 157,500 |
| OPENING STOCK | 4,120 |
| PURCHASES | 92,800 |
| AVAILABLE GOODS | 96,920 |
| CLOSING STOCK | – 2,600 |
| – 94,320 | |
| GROSS PROFIT | 63,180 |
| DISCOUNT RECEIVED | 1260 |
| 64,440 | |
| EXPENSES | |
| RENTS(3400-250) | 3,150 |
| WAGES AND SALARIES (31400+540) | 31,940 |
