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CAC710S-COMPUTERISED ACCOUNTING 301-1ST OPP-NOV 2024 |
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nAmlBIA unlVERSITY
OF SCIEnCE Ano TECHnDLOGY
FACULTYOF COMMERCE, HUMAN SCIENCEAND EDUCATION
DEPARTMENTOF ECONOMICS, ACCOUNTING & FINANCE
QUALIFICATION: BACHELOR OF ACCOUNTING/BACHELOR OF ACCOUNTING (CA)
QUALIFICATION CODE: 07BOAC/07BACC
COURSE CODE: CAC710S
LEVEL: 7
COURSE NAME: COMPUTERISED
ACCOUNTING 301
SESSION: NOVEMBER 2024
PAPER: PRACTICAL
DURATION: 3 HOURS (Including printing and set
up)
MARKS: 100
EXAMINERS:
FIRST OPPORTUNITY EXAMINATION QUESTION PAPER
H Namwandi, Y Elago and E Kangootui
MODERATOR: E Milijala
INSTRUCTIONS
• This question paper comprises one (1) question, split into three parts.
o Ensure your student number appears on all reports (Generated through the system,
not handwritten).
• It's your responsibility to see that all reports are printed and submitted.
.. Ensure that all worl< done during the assessment is your own.
" The use of the internet on any electronic device is prohibited during the assessment.
" Questions relating to this paper may be raised in the initial 30 minutes after the start
of the paper. Thereafter, candidates must use their initiative to deal with any
perceived error or ambiguities and any assumption made by the candidate should be
clearly stated.
PERMISSIBLE MATERIALS
Non-programmable calculator
THIS QUESTION PAPER CONSISTS OF 7 PAGES (Including this front page)
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QUESTION 1
100 Marks
Background of the organisation.
Ntate Vuma established a Hotel a few years back when he saw an opportunity in the market
to help residents in the Oshikoto-Omuthiya region who require a good hospitality seNice within
their area to enjoy with their families. He named the hotel "Etotha Hotel Pty". The hotel has
been doing well over the past financial years due to the excellent customer seNice offered,
and in future, he would like to expand the business in other Northern parts of the country.
Since its inception, Etotha Hotel's accounting records have been recorded on the Quick Books
program, and the owner wants all the records to be migrated to the new Patel S50, a program
that he recently bought. The business is registered for Tax (VAT Vendor). You are supplied
with a list of hotel account balances to help the accountant who is on a month-long vacation
leave.
You are required to create a company on the "C" drive using the following
information.
Company Name:
Financial Year:
Date Format
Processing Method
Bankers
Printing
Supplier Processing
Student Number
1st September 2023 - 31 August 2024
01/09/2023
Balance Forward
Bank Windhoek
Plain Paper
No GRN, Purchase Orders and No inventory creation
You are provided with the following list of account balances for Etotha Hotel Pty, as at 1
September 2023, which was extracted from Quick Books records.
~ertt,
Plant and Egui12ment
Cash and cash equivalent
Accounts payables
Accounts receivables
Share capital (issued shares@ N$2.50 per share)
Allowances for credit losses
Loan- Standard Bank (8% prime rate)
Prior year's loss
Notes
1
2
3
4
N$
3 650 330
121 670
196 350
100 900
1 080 300
20100
460 400
17 880
Notes on opening balances:
Note i: Property, Plant and Equipment's
Non-current assets (See assets register)
Building & plot (erf: 110, Omuthiya central)
N$
1 100 000
2 550 330
3 650 330
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Assets Register:
Asset
number
Description
Acquisition
date
PPE001
PPE002
PPE002
-
PPE003
PPE004
PPE005
PPE006
PPE009
Master chef-pots,
pans, spoons,
knives & forks
Egyptian cotton
blankets & Bed
Sheets
Lenovo Photocopy &
printer machine
Office chairs, desks
& filing cabinets
lveco Mini-Bus
Samsunq Laptops
Hisense Sound bar
& TV
Floor mats and
curtains
01/11/2021
01/11/2021
01/03/2021
01/03/2022
01/11/2022
28/02/2022
28/02/2022
28/02/2022
Cost price
(N$)
55 000
Residual
value
(N$)
-
41 500
-
25 000
-
125 000
-
645 000
-
20 000
-
150 000
-
38 500
-
1 100 000
Life
span
5
5
5
10
10
5
5
-
Property, Plant and Equipment's depreciation policy:
Property, plant and Equipment owned by the hotel are depreciated using the following policy:
0 All property, plants and equipment owned by Etotha Hotel Pty are depreciated using
the fixed instalment method at a rate of 10%.
" Depreciation is calculated on assets in existence at the end of each year, using the
basis of one month's ownership.
" No depreciation is to be charged on assets in the year of disposal.
e The building, plot, TV, soundbar, floor mats and curtains are not depreciated.
Note 2: Cash and cash equivalent
Bank Windhoek investment
Bank Windhoek current account (balance as per cash book)
Petty cash
Note 3: Accounts payable
Pick n Pay (PP001)
Metro Liquor Store (ML002)
Readi Bites Butchery (RB003)
Notes 4: Accounts receivable
Ministry of Defence (MD001)
UNAfVI (UN002)
Chili Agent Ltd (CA003)
N$
65150
56 520 Dr
121 670
N$
81 340
100 010
15 000
196 350
N$
27 500
68 200
5 200
100 900
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Required:
You are required to capture the opening balances of Etotha Hotel Pty accounts, including the
accumulated depreciation for all non-current assets as at 1 September 2023 (Period one).
UPDATE YOUR TRANSACTIONS BEFORE PROCEEDING TO THE NEXT QUESTION.
NB: No report is required to be printed at this stage.
Part B: Period One Transactions
In this section, you are required to process supplier and customer transactions. All
transactions rnust be processed in the general ledger (GL) only.
NB: Since all transactions will be processed under the general ledger (GL), you are required
to calculate the total costs for customer and supplier transactions separately. Once you are
done, you may enter the final amount into the system.
NB: No inventory items to be processed or created.
You are provided with the following price list. All price lists are exclusive of VAT.
Table 1: Cost price list
~- Items
Clover Milk - 1 litre
~-
Mozerera Cheese - 1 kq
~99.~-=-9n~pack
.J!.g_ Tastic F~ice __
-1£9-I.<?12Score Meal
.J!_g_Marathon suqar
1kq Grade 3 beef
1kg Chicken
L1!~1fL2ork
~e Co_okingOil
.J_tg Butter
.JJs._g__'{_~getables
Cool drink - 330ml (each)
Alcoholic beveraqes - 440ml (each)
Wines 750ml bottle (each)
Cost (N$)
21.50
35.00
110.00
38.00
32.00
40.00
76.00
82.00
67.00
29.00
33.00
73.00
11.00
19.00
73.00
Table 2: Selling price list
Items
Double Room rate
Sing~ _F_3,oomrate
Break Fast- per__.__e_r_s___o___n_
Luncl1_=:per erson
Dinner- er erson
Buffet - Breakfast er erson
Buf~_\\_::D:: inner 12er_._______
Selling price
N$
850.00
500.00
---1-_1_4O__0_O.
110.00
210.00
170.00
.,___3_50__._0_0
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Cool drink - 330ml (each)
Alcoholic beverages - 440ml (each)
--Wines bottle (each)
20.00
30.00
105.00
The following transactions (purchases and sales) took place during the period of 1
September 2023. All transactions were on account.
Supplier
Invoice
number
Pick n Pay
----~- ----··---
~--
-···--·----------
Metro Liquor store
PP541
MR245
--------
Readi Bites Butchery
RB369
·------
Customer
Invoice
number
Ministry of Defence
NI001
Items bought
50 litres of Clover milk
3 pack of eggs
15 kq of Mozerera cheese
4kQ of Tastic Rice
6kg of Marathon Sugar
13 bottles of 750ml wine
96 Cool drinks- 330ml
144 Alcoholic beverages - 440ml
25kQ of Grade 3 beef
56kg of Pork
?0kq of Chicken
Service/goods sold
Served 24 buffet breakfasts each day for 10
days
Served 24 dinners each day for 10 days
Served 24 lunches each day for 10 days
Served 72 cool drinks each day for 10 days
Single room booked for 24 people for 10 days
UNAfVI
NI002
Served 12 lunches each day for 5 for days
Served 12 dinners each day for 5 days
Served 6 cool drinks each day for 5 days
Served 6 alcoholic beverages each day for 5
days
Part C: Year-end adjustments
Ntate Vuma provided you with the following year-end adjustments and cash book transactions,
which have not yet been recorded in the hotel's books. All year-end adjustments should be
processed in period 2.
Q One of Etotha Hotel Pty customers, Chilli Agent Ltd was declared insolvent by the high
court. Ntate Vuma decided to write off the whole balance.
e The directors of Etotha Hotel declared a dividend of N$0.75 per share on all issued
share capital, which will be paid in the next financial year.
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'11 The auditor discovered that the Samsung laptop value was overstated by N$ 2,000 as
on the acquisition date and recommended that an adjustment be made accordingly.
" Interest on loan for the current period has not yet been paid but must be accounted for
in the books.
You were informed that the transactions in period two (2) for the Bank Windhoek bank account
were not all recorded. The accountant asked you to assist in updating this account's
transactions and prepare a bank reconciliation after receiving the bank statement (see
Annexure A on page 7).
The following EFT payments and receipts were made in the hotel books.
EFT1601
Hotel special promotion through The Namibian newspaper
N$10 500
EFT1602
Petty cash transfer
N$4 000
EFT1603
Readi Bites Butchery-account payment
N$12 350
EFT1604
PUMA Service- Mini-bus diesel
N$8 470
EFT1605
Air Technology-Rooms Air-condition service
N$6 500
DEP001
UNAM-account payment
N$11 690
DEP002
Interest-Bank Windhoek investment
N$3 710
DEP003
Alcoholic beverages- cash sales
N$13 280
Required:
1. Make the necessary entries in the books of original entry for October transactions (In
Period two). Prepare a bank reconciliation statement for October 2023 in period two.
Print out a bank reconciliation report on the same date.
2. Print out a detailed ledger as of 31 October 2023. (View - General ledger-
Transaction - Detailed ledger)
e Account start 1000 - Account end 9990
0 Sub account start 000 - Sub account end 999
Period 1 - Period 2
3. Print out all supplier's and customer's detailed ledger as at 31 October 2023.
,;; Customers: View - Customers - Detailed ledger - By customers
"' Suppliers: View - Suppliers - Detailed ledger - By suppliers
" Period: 1 - Period 2
THE END
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ANNEXURE A
Bank Windhoek
Bank Statement- Etotha Hotel Pty: October/November 2023
-
Date
Details
Dr/Cr (N$)
1 Oct 23 Balance b/f
-
1 Oct 23
--
2 Oct 23
----
3 Oct 23
KPMG - internal audit fees
Petty cash-Transfer
Omuthiya Town council- Rates & Taxes
(11 450)
(4 000)
(2 680)
9 Oct 23
--------·
10 Oct 23
--·--
12 Oct 23
Investment interest-Investment
/\\milema Village- Grocery donation
-
Readi Bites Butchery-payment
3 710
(10 980)
(12 350
15 Oct 23
15 Oct 23
------
17 Ocl 23
-------
17 Oct 23
1-------------
20 Oct 23
1-------
21 Oct 23
Windhoek Flower cc- Rooms decoration
--
Rent a Drum Cleaner- service fees
OHL-fees
Kadhila Amoomo Lawyers- attorney charges
rvtinistry of Defence-payment
--·-
Waltons Namibia-office accessories
(6 185)
(5 000)
(1 680)
(3 570)
14 000
(1 490)
24 Oct 23 Pick n Pay-payment
(15 660)
25 Oct 23 Staff remunerations
----------
27 Oct 23 I Bank Windhoek- account service fees
--
---· ----- -·
28 Ocl 23 fv1etro Liquor Store-payment
--
28 Oct 23 NUST Hotel School-Culinarily Classes fees
-------
30 Oct 23 TN Mobile- Service charges
>--------
1 Nov 23
Cash sales-Alcoholic beverages
-··-••·••·--
3 Nov 23
PUMA Service-Diesel
~---·-----
(34 580)
(860)
(20 940)
(10 080)
(2 540)
13 280
(8 470)
.._______ __---------
Balance (N$)
56 520
45 070
41 070
38 390
42 100
31 120
18 770
12 585
7 585
5 905
2 335
16 335
14 845
(815)
(35 395)
(36 255)
(57 195)
(67 275)
(69 815)
(56 535)
(65 005)
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