CAMEROON GCE O LEVEL PAST QUESTION, OHADA FINANCIAL ACCOUNTING
GCE O LEVEL PAST QUESTION, OHADA FINANCIAL ACCOUNTING questions without answers . They are 8 questions below for you to solve. Get a pin and paper, solve the questions below. If you face any problems solving, contact us for full solutions.
1. (a)Mr.kanghi
Emmanuel is a worker in the company BIFUNDE
Ltd and is in category 6, echelon F.
During the month of January 2020, the following data was
extracted from his Time Card:
|
1st Week
|
4 hours and 2 hours on Sunday
|
|
2nd Week
|
50 hours
|
|
3rd Week
|
40 hours and 3 hours at night
|
|
4th Week
|
60 hours
|
Mr.kanghi
Emmanuel earns a monthly
Basic Salary of 123,885 FCFA.
Required:
(i) Calculate the hourly rate
for Mr.kanghigiven that the
statutory monthly duration of work is 173,33 hours.
(2.5marks)
(ii) Calculate the Overtime
hours of Mr.kanghi Emmanuel using Appendix 1. (7 marks)
(b) The Time Card of workers
in MESSASI Enterprise during the 2nd
Week of January 2020 (6th to 11th)
indicated the following:
|
Workers’ Names
|
Hourly Rate
|
Post
|
Time worked in Hours
daily
|
|||||
|
6th
|
7th
|
8th
|
9th
|
10th
|
11th
|
|||
|
GEH
|
2,400
|
Electrician
|
8
|
8
|
8
|
8
|
8
|
8
|
|
DUNG
|
3,600
|
Electrician
|
9
|
8
|
-
|
10
|
12
|
10
|
|
MANG
|
3,000
|
Electrician
|
7
|
8
|
11
|
8
|
7
|
9
|
|
KELLU
|
3,200
|
Builder
|
9
|
9
|
8
|
9
|
10
|
10
|
|
NENGEH
|
4,100
|
Foreman
|
10
|
6
|
8
|
7
|
7
|
10
|
You are further informed that:
Ø A normal working week
is 40 hours;
Ø Overtime is paid an
hourly rate increased by 20% from the 41st to the 48th hour
each and an hourly rate increased by 30% from the 49th hour.
Required:
(iii) Calculate the Overtime
remuneration earned by each worker for the week using Appendix 2. (8 marks)
(iv) Determine the Basic Wages
earned by each worker for work using Appendix
3. (2.5 marks)
(Total 20marks)
_______________________________________________________________________________________________
2.(a)
During the month of December 2019, NJOH
Enterprise carried out the following transactions relating to containers:
Dec. 6, 2019 : Purchase of lost containers by bank cheque; 1,500
plastic bags at 80 FCFA per bag.
Dec.15, 2019 : Purchase of empty drums to be used in facilitating
the distribution of palm Oil to customers; 100drums of 50 litres at 3,000 FCFA
each. Transport paid amounted to 50,000 FCFA.
Settlements were made by bank cheque.
NB: VAT should not be applied on the
transactions.
Required:
Record the transaction in the
Journal of NJOH Enterprise using the
Periodic Inventory where necessary.
(6 marks)
(b)
During the month of January 2020, NJOH
Enterprise made available the following informationrelating to the
situation of the movement of non-identifiable returnable containers:
January
1, 2019: In Stock; 625 crates and on consignment; 1,500
crates,
January 2,
2019: Purchases
from suppliers’ supplier keluh; 400 crates,
January
3, 2019: Consignment to customer Buh; 300 crates,
January
4, 2019: Customer Buh returns 200 crates and keeps the rest,
January
5, 2019: Sold to customer Beng; 60 crates,
January 6, 2019: Hired to customer tem; 20 crates.
Required:
Prepare the Quantitative Stock Bin Card
using Appendix 4.
(14 marks)
(Total 20marks)
_______________________________________________________________________________________________
3.You
are an employee at FECHOU Enterprise. The enterprise
uses the Centralised System of Accounting.
On January
30, 2020, the
Manager hands to
you a file
containing the followingtransactions which took place during
the month of January 2020:
January 2 : Credit purchase of goods
……………………………………. 100, 000 FCFA
January 4 : Cash purchases of goods
…………………………………….. 200,000 FCFA
January 10: Credit sales of goods
…………………………………………. 150,000 FCFA
January 13: Cash sales of goods by
bank cheque ……………………… .. 170,000 FCFA
January 18: Received from
Customers by bank cheque ………………...…
39,000 FCFA
January
30:
Paid bank cheque to a supplier ………………………………..
25,000 FCFA
NB:
Ø Apply VAT at 19.25% on
all purchases and sales transactions.
Ø The enterprise keeps
the following auxiliary journals:
·
Purchases
Journal (Appendix 5A)
·
Sales
Journal (Appendix 5B)
·
Cash
Receipt Journal (Appendix 5C)
·
Cash
Payment Journal (Appendix 5D)
·
Bank
Debit Journal (Appendix 5E)
·
Bank
Credit Journal (Appendix 5F)
Required:
Record the transactions in the Auxiliary
Journals (Appendix 5A, 5B, 5C, 5D, 5E,
5F). (20 marks)
______________________________________________________________________________________________
4.During the month
of December 2019 FEKAH Enterprise
had the following stock situation in its books:
December 1 : Initial stock of beer; 300 crates at 3,800 FCFA per
crate
December
3 : Purchases of 400 crates of beer at 3,900 FCFA each
December
7 : Sales of 700 crates of beer
December
10: Purchases of 550
crates of beer at 4,000 FCFA each
December
17: Purchases of 600
crates of beer at 4,100 FCFA each
December
20: Sales of 80 crates of
beer
December
24: Sales of 300 crates of
beer
December
28: Purchases of 120
crates of beer at 4,200 FCFA each
December 31: Sales of 500 creates of beer
Required:
Establish the Stock Slip using the Weighted Average Cost after all entries (Appendix 6). (10
marks)
(Total
20marks)
_______________________________________________________________________________________________
5.(a)AKOTSE Enterprise is a
small business down town, Buea Road, Kumba.
It holds a bank account with National Financial Credit (NFC), Kumba
branch. During the month of December
2019, the enterprise carried out the following transactions:
December 4: Balance brought
forward ………………………………………………… 250,000 FCFA
(Debit)
December 5: Cheque No. 10;
payment to Suppliers…………………………………….
300,000 FCFA
December 7: Remittance of
Cheques received from Customers………………………..
800,000 FCFA
December 10:Remittance of Cash from Cash Account…………………………………. 500,000 FCFA
December 11: Cheque No. 15; payment for
Purchases………………………………….. 460,000 FCFA
December 12: Cheque No. 17; payment of Transport
expenses………………………... 30,000 FCFA
December 14: Cheque received from Customers………………………………………... 700,000 FCFA
December 15: Cheque No. 21; payment of Rent………………………………………... 56,000 FCFA
December 20: Bank Charges for the month……………………………………………... 15,000 FCFA
December 28: Cheque No. 801; Loan from Mr. KEM-ATUH…………………………..
1,500,000 FCFA
Required:
(i)Prepare the Bank Account in AKOTSE
Enterprise using Appendix 7.(12 marks)
(b)For your
recruitment test in AKOTSE Enterprise,you
are given a File containing the following information relating
toLiquid Assets for
treatment:
January 1, 2020: The Total
Debit balance of Liquid Assets was 358,000 FCFA; divided into 92,000 FCFA in
Cash, 150,000 FCFA at the Bank and the balance in the Giro Account.
January 4, 2020: Sales;
settlement in Cash 18,000 FCFA and by Postal Cheque 250,000 FCFA.
January 8, 2020: Supplier
Ndum was settled by Bank Cheque 73,000 FCFA.
January 15, 2020: Paid expenses by Postal Cheque 400,000 FCFA, in
Cash 50,000 FCFA, and by Bank Cheque
65,000 FCFA
January 23, 2020: Transferred from Bank to Giro account 25,000 FCFA
Required:
Prepare the Liquid Assets Account using Appendix 8. (8 marks)
(Total
20marks)
_______________________________________________________________________________________________
6.You have just been recruited as Accounts
Clerk in the company Active Commerce.
The company specializes in
the buying and selling of assorted
goods. It has its headquarter in MUYUKA,
PMB 70, Tel 333 22 25 13,
Bank a/c No. 012, SGBC Limbe. The Chief Accountant handed the following
Files to you for treatment:5
File
No. 1: Order placed by “Jude” on January 10, 2020
to “Active Commerce”
50 cartons of Perfume Avon at 17,000 FCFA
each.
10 cartons Lander at 15,000 FCFA each.
File
No. 2: Order No. 006
Invoice No. 002 sent to “Jude” on January 22, 2020
50 cartons of Perfume Avon at 17,000 FCFA
each.
10 cartons Lander at 15,000
FCFA each at the following conditions:
- Trade discount 10% and 5%
- Cash discount 1%
- VAT 19.25% (Round to the nearest unit)
- Mode of payment: Half by Cash (Voucher No. 006) and the rest
by Bank Cheque No. 0047 on
January 25, 2020.
- Margin
Rate is 25%
Required:
(ii)Draw up the Bank Cheque
No. 0047 using Appendix 10. (6
marks)
(iii) Make the Journal entries in the books of “Active Commerce”.
(6 marks)
(Total
20marks)
_______________________________________________________________________________________________
7.The expenses incurred by YAYA Enterprise, P.O. Box 32 MAROUA for
the month of January 2020 were as follows:
Ø Purchase Price of
goods bought (600 units) ……………………………………… 1,200,000 FCFA
Ø Direct Purchase and
Supply expenses …………………………………………….
80,000 FCFA
Ø Direct Distribution
and Supply expenses …………………………………………
300,000 FCFA
Ø Indirect
Administration expenses …………………………………………………
180,000 FCFA
Ø Indirect Financial
expenses ……………………………………………………….
20,000 FCFA
A careful study and a breakdown of these expenses show
that 30,000 FCFA of the Administrative expenses had to do with purchases while
150,000 FCFA were related to sales.
As regards Financial expenses, 4,000 FCFA of the
amount had to do with Purchases while the remaining 16,000 FCFA had to do with
Sales. The sales of 520 units for the
period amounted to 1,750,000 FCFA. There
was however no opening stock.
Required:
(i) Show the reclassification
of expenses using Appendix 11A.
(6 marks)
(ii)Calculate the PURCHASE COST and the Purchase Cost per
unit of the goods bought using Appendix
11B. (6
marks)
(iii) Calculate the TOTAL COST and unit Cost Price of the
goods sold using Appendix 11C. (6 marks)
(iv)Calculate the GROSS PROFIT of the Month of January
using Appendix 11D. (2
marks)
(Total
20marks)
_______________________________________________________________________________________________
8.
The Manager of FOKOU Enterprise
handed the following documents arranged in a File by the Cashier for you to do
the necessary Accounting treatment:
SUMMARY OF CASH
R ECEIPTS
Cash Receipt
No. 457
Cash Receipt No. 458
On: 14/01/2020 Amount: 2,000,000 FCFA On: 16/01/2020 Amount:
500,000 FCFA
Received from: LUCKY-GUY Received from: TONY-BOY
Being: Cash-down Sales of goods Being: Cash-down Sales
of goods
Cash Receipt No. 459 Cash Receipt No. 460
On:
18/01/2020 Amount:
1,000,000 FCFA On:
20/01/2020 Amount: 1,200,000 FCFA
Received from: Customer NKWAIN
Received from: Customer NDUKONG
Being: Settlement of goods supplied to him on 02/01/2020Being: Advances and payment on account received
BANK CHEQUE
COUNTERFOILS
Serial
No.AB Cheque No.1 234 Serial No.XH Cheque No. 8 790
Order: FOKOU Enterprise
Order: Ourselves
Reason: Goods Sold
Reason: Withdrawal for Office use
Sum of:1,560,000 FCFADate: 06/01/2020 Sum of: 1,840,000
FCFA Date: 25/01/2020
CASH VOUCHERS
Cash Voucher No. 360 Cash Voucher No. 361
On:
17/01/2020 Amount: 150,000 FCFA On: 26/01/2020 Amount: 60,000 FCFA
Object: Settlement of Electricity Bill To:
PUBLIC TREASURY
Object: Purchase of
Fiscal Stamps
Cash
Voucher No. 362 Cash Voucher No. 363
On:
27/01/2020 Amount: 40,000 FCFA On: 31/01/2020 Amount: 50,000 FCFA
To:
PRESSBOOK
Object: Settlement of Rent
Object: Purchase of Office Stationeries
Required
Record the transactions in the Classical Journal of FOKOU Enterprise
(Use Periodic Inventory). (20 marks)
