4G 60% 9:19 AM CAT 1 Accounting in... classroom.google.com HDS 2310 ACCOUNTING IN DEVELOPMENT CONTEXTS CAT 1 ( 60marks) Answer all the questions. 1. Accounting practice depends upon the guidance provided by a number of accounting principles. Explain five accounting principles that guide accountants while preparing accounting statements. (10 marks) 66 2. The following information relates to Bahari retailers for the month of January 2013. Invoices received: Jan 6 Mandella ltd sh 70,000 12 Odhiambo traders shs 150,000 * 18 Jua kali enterprises sh 50,000 Invoices issued: Jan 5 Jambini traders shs 10,000 10 Fedha Itd shs 100,000 15 Kalu works ltd shs 120,000 Credit note issued: Jan 5 Jambini traders shs 12,000 13 Fadhili Itd shs 6,000 Credit note received: Jan 7 Mandela ltd shs 5,000 14 Odhiambo traders shs 1,000 Additional information Jan 8 sold machinery on credit to Kwetu retailers shs 50,000 9 bought electronic equipment on credit from lowland retailers shs 8,000 10 brought shs 5000 cash into the business from own sources. Required: Record the above transactions in the appropriate journals (20 marks) 3. On 15 Jan 2009, Sabor Traders had cash in hand sh.174, 000 and cash at bank sh.500, 000. During the month the following transactions took place: Jan 124: Bought office furniture by cheques sh.170,000 Jan 16th: Settled Kosgei's account of sh 80,000 in cash having deducted sh.1, 600 cash discount. Jan 18h: Received a cheque of sh.300,000 in respect of cash sales. Jan 21st: Paid wags sh.48,000 in cash. Jan 22nd: Withdrew sh 60,000 from bank for office use. Jan 25th. Took Sh.33, 000 cash from Mondis in settlement of his a/c. Jan 30th: Deposited all the money into bank except sh.50,000. Required: Prepare a three column cash book duly balanced. (10 marks) 4G 60% 9:19 AM CAT 1 Accounting in... classroom.google.com HDS 2310 ACCOUNTING IN DEVELOPMENT CONTEXTS CAT 1 ( 60marks) Answer all the questions. 1. Accounting practice depends upon the guidance provided by a number of accounting principles. Explain five accounting principles that guide accountants while preparing accounting statements. (10 marks) 66 2. The following information relates to Bahari retailers for the month of January 2013. Invoices received: Jan 6 Mandella ltd sh 70,000 12 Odhiambo traders shs 150,000 * 18 Jua kali enterprises sh 50,000 Invoices issued: Jan 5 Jambini traders shs 10,000 10 Fedha Itd shs 100,000 15 Kalu works ltd shs 120,000 Credit note issued: Jan 5 Jambini traders shs 12,000 13 Fadhili Itd shs 6,000 Credit note received: Jan 7 Mandela ltd shs 5,000 14 Odhiambo traders shs 1,000 Additional information Jan 8 sold machinery on credit to Kwetu retailers shs 50,000 9 bought electronic equipment on credit from lowland retailers shs 8,000 10 brought shs 5000 cash into the business from own sources. Required: Record the above transactions in the appropriate journals (20 marks) 3. On 15 Jan 2009, Sabor Traders had cash in hand sh.174, 000 and cash at bank sh.500, 000. During the month the following transactions took place: Jan 124: Bought office furniture by cheques sh.170,000 Jan 16th: Settled Kosgei's account of sh 80,000 in cash having deducted sh.1, 600 cash discount. Jan 18h: Received a cheque of sh.300,000 in respect of cash sales. Jan 21st: Paid wags sh.48,000 in cash. Jan 22nd: Withdrew sh 60,000 from bank for office use. Jan 25th. Took Sh.33, 000 cash from Mondis in settlement of his a/c. Jan 30th: Deposited all the money into bank except sh.50,000. Required: Prepare a three column cash book duly balanced. (10 marks)
