Accountancy Quiz – 2 msomimaktaba, October 8, 2020 Accountancy Quiz – 2 Answer the following questions and then click Mark Now to see Solutions Top of Form QUESTION 1 At the beginning of the Financial year on April 2012, a company had a balance on plant account of Tshs. 7,440,000/= and on provision for depreciation of plant account of Tshs. 4,108,000/= The company policy is to provide depreciation using the reducing balance method applied to the fixed assets held at the end of financial year at the rate of 20% per annum. Required a) The plant account b) The provision in depreciation account c) The profit & loss a/c d) The balance sheet as at that year. QUESTION 2 Write short notes for the following. Incomplete records Inter ledger transfer Going concern concept Accounting period concept Trade discount QUESTION 3 Miss Namkunda’s store has 100% stolen on 31st August 2013 and be neither keeps sales nor purposes journals but sales and purchases ledger. The following information has been supplied use. Required: (i) Prepare statement to compute the value of stock stolen (ii) Prepare debtors and creditors accounts ascertain credit sales and purchases on credit. QUESTION 4 Nyamwezi car hire, completed its final year operation on December 31, 2012. Because this is the end of the annual accounting period the company book-keeper prepared the following Income statement for the year ended 31st. Required: (a) Correct and give the adjustment entry in journal at 31st December, 2012 for each additional item. (b) Prepare a correct income statement. Bottom of Form Form 5 Accounting Study Notes Form 6 Accounting Study Notes
Form 5 Accounting Study Notes ACCOUNTANCY FORM 5 – THE NATURE AND CONTEXT OF ACCOUNTANCY November 11, 2018February 13, 2019 Read More
Form 6 Accounting Study Notes ACCOUNTANCY FORM 6 – ROYALTY November 11, 2018February 13, 2019 Read More
Accountancy Quiz – 3 October 8, 2020 Accountancy Quiz – 3 Anwer the following questions and then click Mark Now to see Solutions Top of Form QUESTION 1 Kingu Ltd purchased 45000 ordinary shares of 200 each in Tumaniel Ltd on 1st January 2011 for shs 190 per share on 30th June 2011 Tumaniel Ltd issue 2… Read More