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CAC710S-COMPUTERISED ACCOUNTING 301-2ND OPP-DEC 2025 |
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n Am I 8 I A Un IVE RS ITV
OF SCI En CE Ano TECH n OLOGY
FACULTY OF COMMERCE, HUMAN SCIENCE AND EDUCATION
DEPARTMENT OF ECONOMICS, ACCOUNTING & FINANCE
QUALIFICATION: BACHELOR OF ACCOUNTING/BACHELOR OF ACCOUNTING (CA}
QUALIFICATION CODE: 07BGAC/07BACC
COURSE CODE: CAC710S
LEVEL: 7
COURSE NAME: COMPUTERISED
ACCOUNTING 301
SESSION: NOVEMBER/DECEMBER 2025
PAPER: PRACTICAL
DURATION: 3 HOURS (Including printing and set
MARKS: 100
up}
SECOND OPPORTUNITY EXAMINATION QUESTION PAPER
EXAMINERS: H Namwandi, Y Elago and C Mahindi
MODERATOR: E Milijala
INSTRUCTIONS
• This question paper comprises one (1) question, split into three parts.
• Ensure your student number appears on all reports (Generated through the system,
not handwritten).
• It's your responsibility to ensure that all reports are printed and submitted.
• Ensure that all work 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)
Part A
Create a new company on the "C" drive, using the following information:
Company name:
Date format:
Processing method:
Banker :
Printing :
Supplier processing:
Student Number
01/09/2024
Balance forward
FNB Bank
Plain paper
No GRN , no purchase orders and no sales orders
Background of the organisation:
Nekulilo established a business a few years back when she saw an opportunity in the market
to buy and sell imported second-hand vehicles to help residents in the country who are unable
to afford local vehicles. She named her business as "Nekulilo For All Pty" . The company has
been doing well over the past financial years due to Nekulilo's good customer service and
affordable prices, in future she would like to expand the business in the Northern part of the
country. Since its inception, Nekulilo For All accounting records have been recorded manually
and the owner wants the records to be recorded in Patel S50, a program that she recently
bought. Her business is registered for Tax purposes and she is hoping that in the next
financial year, she can start competing for government and private tenders. You are supplied
with a list of account balances of the company to help the accountant who is on a month-long
vacation leave.
You are provided with the following list of account balances for Nekulilo For All Pty, as at 1
September 2024.
Property, Plant and Eauipment
Cash and cash equivalent
Accounts payables
Accounts receivables
Share capital
Inventory
Operating costs prepaid
VAT receivable
Investment (unit trust)
Dividends for shareholders
Allowances for credit losses
Loan- Standard Bank (8%)
Prior year's loss
Notes
1
2
3
4
5
6
N$
2 275 000
120 906
114 370
57 700
????
????
18 170
9 800
80 610
23 390
15 100
460 400
17 890
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Notes on opening balances:
Note 1: Property, Plant and Equipment's
N$
Non-current assets (See assets register)
Unserviced plot (1000 sq. meter)(erf: 420, Katutra)
Assets Register:
775 000
1 500 000
2 275 000
Asset
number
PPE010
PPE011
PPE012
PPE013
PPE014
Description
Photocopy/printer-
Samsunq
Office chairs, desks
& filinq cabinets
Haval (Jolion) SUV
Samsung Laptop
Trade Mark
Acquisition
date
01/09/2020
01/01/2022
01/09/2021
31/12/2020
01/05/2022
Cost price
(N$)
35 000
125 000
545 000
20 000
50 000
775 000
Residual
value
(N$)
-
-
-
-
-
Life
span
10
10
10
10
10
Property, Plant and Equipment's depreciation policy:
Property, plant and Equipment owned by the company are depreciated using the following
policy:
• All Property, Plants and Equipment owned by Nekulilo For All Pty are depreciated
using the reducing balance 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.
• The unserviced plot and trade mark are not depreciated .
Note 2: Cash and cash equivalent
N$
Petty cash
6 386
Standard Bank current account (balance as per bank statement) 114 520 Cr
120 906
Note 3: Accounts payable
N$
Nameelenga CC (NC001)
Nelson (NE003)
56 540 Dr
170 910
114 370
Notes 4: Accounts receivable
N$
Makalani cc (MK001)
Game Dealer (GS002)
Osho Agent Ltd (CA003)
Note 5: Share capital
17 500
35 000
5 200
57 700
The authorised share capital of Nekulilo for All Pty is 750 000 ordinary shares of N$3,20 per
share. The total number of unissued shares is 390 000. All shares were issued at par value.
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Note 6: Inventory
The inventory sheet contains the list of all the company's inventories at the beginning of the
financial period obtained after an inventory count. The company's policy is to value inventory
at cost price. Inventory items are sold at a profit of 20% on sales margin . All prices/processing
are exclusive of VAT.
Inventory Items
VW Golf 7 (GTI)
BMW320i
Honda Fit (XL)
Mazda Demio
Item Code Cost Price N$
VGl789
BMP524
HAC698
MEK574
240 500
210 000
110 000
80 500
Quantity on
hand
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Required:
You are required to capture the opening balances of Nekulilo For All Pty accounts including
the accumulated depreciation for all non-current assets as at 1 September 2024 (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
Period 1 (one) Transactions: In this section, please note you must process supplier's and
customer's transactions accordingly. All amounts are exclusive of tax. The company's trading
policy is to allow a discount of 5% on the expensive sales inventory if the total sales exceed
the value of N$750 000.
Supplier's transactions:
The following are monthly transactions for inventory bought on account.
Nameelenga cc - Bought 5 BMW 320i and 6 Honda Fit. The inventory were delivered after
30 days. Invoice number: NSB557
Customer's transactions:
The company sold and processed all inventory items from all the customers on account as
follows:
Game Dealer - Sold the following inventory: 4 VW Golf (GTI), 6 Mazda Demio and 2 Honda
Fit (XL)
Osho Agent Ltd - Sold the following inventory: 2 Honda Fit (XL) and 5 Mazda Demio.
Returns:
Game Dealer - Returned one BMW 320i because the car had mechanical issue. The car
was returned back to the supplier.
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Part C: Period One Transactions
You were informed that the transactions in period one for the Standard bank account were
not recorded . The accountant asked you to assist in updating this account's transactions and
prepare a bank reconciliation after receiving the bank statement.
• 1 September, received cash sales from cash customers for N$525 000. The money
was paid directly into the bank account via point of sales (POS) depositing the
amount directly in the bank account (POS001 ).
• 02 September, paid business airtime through the banking application for N$3 470,
(EFT001).
• 10 September, received cash sales from customers for N$11 O625 The money was
paid directly into the bank account via point of sales (POS) depositing the amount
directly in the bank account (POS00S).
• 12 September, received cash from a credit customer (Osho Agent) amounting to
N$83 660 as settlement of account. The money was paid directly into the bank
account via point of sales (POS) depositing the amount directly in the bank account
(POS006).
• 14 September, paid for business prepaid water token through the banking application
for N$7 640, (EFT003).
• 23 September, paid Nameelenga's account through a banking application amounting
to N$204 560, (EFT004).
• 27 September, paid the business fuel through the banking application for N$11 070,
(EFT018).
• 29 September, paid for the business car wash amounting to N$1 380. The money
was paid directly from the bank account (EFT0020).
• 30 September, received cash sales from customers for inventory sold N$230 000.
The money was paid directly into the bank account via point of sales (POS)
depositing the amount directly in the bank account (POS008).
• 30 September, paid a Blue-wallet to a temporary sales person her wages through the
banking application for N$5 370, (EWI00S).
• 31 September, paid for business pens/books and sticky notes through the banking
application for N$565, (EFT006).
• 31 September, received cash from a credit customer Game Dealer as settlement of
account amounting to N$275 450. The money was paid directly into the bank account
via point of sales (POS) depositing the amount directly in the bank account
(POS008).
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At the end of period one you were given the bank statement for the Standard Bank
account and after a review, the bank statement revealed the following: (see the bank
statement at the end of the question)
a) All outstanding items on the August 2024 reconciliation statement were debited and
credited by the bank on 1 September 2024.
b) On 02 September 2024 a payment to Naastu Delivery was for shipping of inventory
from Japan to Namibia.
c) The payment made on 17 September 2024 to standard bank is for the loan
repayment. 40% of the amount is for capital amount and the remainder is for loan
financing.
d) On the 17 September 2024 part of the money received on a (POS001) failed to be
cleared by the bank.
Part D: Year-end adjustments
The accountant provided you with the following year-end adjustments transactions, which
have not yet been recorded in the church's books. All year-end adjustments should be
processed in period 12.
• The auditor discovered that the Samsung laptop value was understated by N$10 000
and recommended an adjustment.
• Income tax for the year was determined to be N$ 28 140 by the tax consultant, payable
in the next month.
• At the end of the financial period, the farm's directors declared dividends on all issued
shares for the previous financial period at N$0.20 per share.
• Interest on the Bank Windhoek loan for the current period has not yet been accounted
for in the books.
• Provide for depreciation on all non-current assets owned by the company during the
current financial period.
Required:
1. Make the necessary entries in the books of original entries for September transactions
(In Period 1 & 12). Prepare a bank reconciliation statement for September 2024 in
period one. Print out a bank reconciliation report on the same date.
2. Print out a detailed ledger as of 31 August 2025.
• Period 12
3. Print out all supplier's and customer's detailed ledger as at 31 August 2025.
Period: 12
THE END
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Annexure A
BANK STATEMENT OF NEKULILO FOR ALL PTY
Date (2024)
1/09/2024 Balance bid
3/09/2024 Maintenance expenses
6/09/2024 Direct transfer- Cash Sales (POS001)
8/09/2024 Payment-Katutura Old Age Home
(Christmas Hampers)
8/09/2024 Payment - Fuel
8/09/2024 Direct transfer (POS006)
9/09/2024 Payment (Airtime) (EFT001)
9/09/2024 Payment - Naatsu delivery
10/09/2024 Payment- NBC Promotion
11/09/2024 Direct transfer - Makalani cc
17/09/2024 Failed EFT (POS001)
17/09/2024 Payment - Nameelenga cc
17/09/2024 Payment - Standard Bank
18/09/2024 Payment - Office rent
24/09/2024 Payment - Nelson
24/09/2024 Payment - Sanlam Namibia
28/09/2024 Investment - return on investment
29/09/2024 Payment- pens/books etc
30/09/2024 Payment - OHL service fees
30/09/2024 PKF Accountants - Service fees
31/09/2024 Standard Bank - Service fees
31/09/2024 Payment-(BIPA registration amendments)
31/09/2024 Payment- Staff remuneration
02/10/2024 Payment - Prepaid Water (CoW)
DR
N$
10 650
14 360
11 070
3 470
105 000
7 800
115 000
204 560
19 540
11 300
46 510
4 200
565
2 740
10 380
755
3 457
22 610
7 640
CR
BALANCE
N$
N$
525 000
114 520
103 870
628 870
614 510
83 660
11 320
6 820
603 440
687 100
683 630
578 630
570 830
582 150
467 150
262 590
243 050
231 750
185 240
181 040
187 860
187 295
184 555
174175
173 420
169 963
147 353
139 713
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