BOOK KEEPING LEVEL ONE. TEST 01

ANNUAL EXAMINATION DECEMBER 2021

SUBJECT: BOOKKEEPING LEVEL ONE

INSTRUCTION

ANSWER ALL QUESTIONS

QUESTIONS

1. Define the following terms as used in accounting

   (a)Balance sheet

   (b)Bookkeeping

   (c)Sales day book

   (d)Cash book

   (e)Cash receipt Journal

2. From the information given enter the correct details in the sales day book

1^st March 2019: Credit sales to waiswa sh.180 invoice no.1

3 ^rdMarch 2019: Credit sales to Acayo sh.16 invoice no.12

6 ^thMarch 2019: Credit sales to Lusoke sh.120 invoice no 75

10^th March 2019: Credit sales to Waiswa sh.550 invoice no.124

17^th March 2019: Credit sales to Mukunyu sh.60 invoice no 146

19 ^thMarch 2019: Credit sales to Kaboku sh.200 invoice no.179

27 ^thMarch 2019: Credit sales to lusoke sh.28 invoice no.204

30 ^thMarch 2019: Credit sales to Ogutu sh.70 invoice no.257

3.a)List down the components of Balance sheet

     (i)

     (ii)

     (iii)

 b)Analyse all books of prime entry

4. Show the journal entries needed to correct the following errors

  

   1.Extra capital of Tsh 10,000 paid into the bank has been credited to the sales   

    account

    2.Woods of Tsh 700 for the own use have been debited to the general expenses account

   3.Private insurance of Tsh.89 has been debited to the insurance account

   4.A purchase of goods from c.kelly of Tsh.857 has been entered in the book as 587

   5.Cash totaling Tsh.390 has been credited to the Bank column in the cash book

   6.Cash drowings Tsh 400 have been credited to the bank column of the cash book

  7.Returns inwards of Tsh 168 from M.mc carth has been entered in error in J.charltons account

  8.A sale of a motor van totaling sh1,000 has been credited to motor expenses

5. Prepare the Balance sheet as at 31 Dec 2010

   Capital                                  18,5000

   Furniture and fittings            12,000

  Net profit for the year            8,700

  Drawings                                   7,200

  Creditors                                      5,400

 Stock                                              3,000

 Debtors                                          7,100

 Cash at bank                                  3120

 Cash in hand                                   180