KIGALI REPORT

WRITTEN EXAM FOR ACCOUNTANT –NKANKA SACCO/50 marks

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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

  1. From the following trial balance extracted from the books SACCO REBIMBERE NKANKA as on 31/12/2016 , Prepare
  1. Trading and Profit & Loss A/c
  2. 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
  1. After giving the meaning of business plan, Explain in summary  its principal part. (10 marks)
  2. 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!!!!!!!!!!!!!!!!!!!!!

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2 Responses

  1. 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%

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