This exam was prepared and done at REBIMBERE SACCO, in NKANKA SECTOR, RUSIZI DISTRICT,WESTERN PROVINCE, in job recruitment on SACCO Accountant Post.
This exam paper is very most helpful study material in preparing your next job exam for the following job post such as: MFI/SACCO Accountant, Revenue Accountant , Commercial Bank Accountant or Operation Officers , and other Cash Management post especially in Financial Institutions.
RUSIZI DISTRICT
NKANKA SECTOR
SACCO REBIMBERE NKANKA
Date : 2nd May 2017
EXAM FOR ACCOUNTANT POST
- From the following trial balance extracted from the books SACCO REBIMBERE NKANKA as on 31/12/2016 , Prepare
- Trading and Profit & Loss A/c
- Balance Sheet (20 marks)
- Cash in hand 2,000
- Capital 200,000
- Machinery 60,000
- Sales 254,800
- Stock 50,000
- Sundry Creditors 40,000
- Bills receivable 1,600
- Bank overdraft 22,000
- Sundry debtors 50,000
- Return outwards 3,000
- Wages 70,000
- Discount received 1,800
- Land 40,000
- Bills payable 1,800
- Carriage inwards 2,400
- Purchases 180,000
- Salaries 24,000
- Rent 4,000
- Postage 1,000
- Return inwards 3,200
- Drawings 10,000
- Furniture 18,000
- Interest 600
- Cash at bank 6,600
- Stock as on 31.12.2016 to 100,000
- After giving the meaning of business plan, Explain in summary its principal part. (10 marks)
- From the following information you are required to calculate depreciation rate :(20 marks)
Cost of the Machine 30000 Rwf
Erection Charges 3000Rwf
Estimated useful life 10 years
Estimated Scarp Value 3000Rwf
GOOD LUCK!!!!!!!!!!!!!!!!!!!!!
2 Responses
Thank you for this most Helpful EXAM for the POST OF ACCOUNTANT , and I can CORRECT this EXAM like this :
1.BALANCE SHEET
ASSETS
*non current assets*
Machine = 60 000
Land = 40 000
Furniture = 18 000
Total = 118 000
*current assets *
Cash in hand = 2000
Bills receivable = 1600
Sundry debtor = 50 000
Cash at bank = 6600
Stock = 100 000. (160 200)
TOTAL ASSETS = 118000+160200=278 200
*equity and liabilities*
EQUITY
capital = 200 000
Drawing = (10 000)
Profit = 17080. (207200)
Non current liability
*current liability*
Sundry creditor = 40 000
Bank overdraft = 22000
Bills payable = 1800
Tax payable = 7320. (71120) (278200)
*income statement*
Sales = 254800
Return in word = (3200)
net sales = 251600
*cost of sales*
Opening stock = 50 000
Purchases = 180 000
Carriage in ward = 2400
Less Return out ward = (3000)
Less closing stock (100 000). 129 400
Gross profit = 122 200
Add discount received = 1800
Gross income = 12400
LESS EXPENSES
wages = (70 000)
Salaries = (40 000)
Rent = (4000)
Postage = (1000)
Interest = (600) 99 600
Net profit before = 24 400
Less tax 30% = (7320)
Net profit = 17080
3.depreciation
10% Reducing balance
Cost = 30 000
S/rap value = 30 000
Useful life = 10 years
Elections charges = 3000
Rate = (3000:30 000)x10% = 1%