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CAC710S-COMPUTERISED ACCOUNTING 301-1ST OPP-JUNE 2025 |
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n Am I BI A u n IVER s ITY
OF SCIEn CE AnD TECHn 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: JUNE 2025
PAPER: PRACTICAL
DURATION: 3 HOURS (Including printing and set
up)
MARKS: 100
FIRST OPPORTUNITY EXAMINATION QUESTION PAPER
EXAMINERS:
H Namwandi, Y Elago, C Mahindi and A Peter
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
01/09/2023
Balance forward
FNB Bank
Plain paper
No GRN, no purchase orders and no sales orders
Background of the organisation:
Dr Walilato and Dr Yomunde have been operating as medical doctors in Oshakati and
Ondangwa, respectively, for years on a 60:40 profit share, dating back to 2018, as medical
partners called W & Y Practitioners. The partnership has been successful since its inception.
At the end of the financial period of the practice, Dr Walilato got an opportunity to pursue her
lifelong career as an artist in Australia. The two partners decided to dissolve the partnership.
They agreed to share assets as per the partnership agreement.
Dr Yomunde decided to continue the practice on her own, and she named her new practice
Yomunde Health Wise. The financial period of the Yomunde Health Wise is the same as the
previous partnership, and the practice is not registered for tax purposes. She decided to bring
the assets, liabilities and equity she received from the old partnership into her new practice.
On 01 September 2023, Yomunde decided to commence her practice officially and asked for
your assistance to keep proper accounting records for her business for the foreseeable future.
You are provided with a list of assets, equity and liabilities for the partnership (W & Y
Practitioners) before dissolution to assist in capturing Yomunde Health Wise Practice opening
balances as of 1 September 2023.
Asse ts, L"Ia bT1f1 Ies an d E:QUl·ttV for W & Y PractITIoners
Ac(luisitic1m/closing
. dates
:
Description
.. /
\\:'
01 January 2018
Office desk and patients
Metal benches
01 July 2018
Stetho scooes & Sona machine
30 June 2020
Scooters
01 June 2020
Audi A3's
01 August 2018
Consultant office
01 October 2023
Trademark
01 February 2020
HP ProBooks
31 August 2023
FNB current account balance
(balance as per bank statement Cr)
31 August 2023
Unit Trust account-Caoricorn
31 Auqust 2023
Allowance for credit losses
31 August 2023
Outstandinq operatinq expenses
31 August 2023
Retained profit
,_
N$
·\\ ,~Notes
214 300
1
198 000
1
72 500
1
952 000
1
1 070 000
1
90 000
1
65 000
1
121 500
2
105 720
2
28 980
2
18 850
2
31 020
2
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31 August 2023
31 August 2023
31 August 2023
31 August 2023
PSMES (PSM555) - receivable
Kuku Gwashambo (KKG666) -
receivable
Victoria Pharmacy (VP6886) -
payable
Lady Pohamba Hospital (LP777) -
payable
80 000
2
34 150
2
58 800
2
76 300
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Notes 1: Property, plant and equipment's depreciation policy:
Property, plant and equipment owned by the practice are depreciated using the following
policy:
• All property, plant and equipment owned by the organisation are depreciated using the
straight-line method at a rate of 10% per annum.
• Depreciation is calculated on assets in existence at the end of each year, giving a full
year's depreciation even though the asset was bought part of the way through the year.
• No depreciation is to be charged on assets in the year of disposal.
• Trademarks and Land &buildings are not depreciated.
• The date of the transaction is the date when the assets were bought.
Note 2:
According to the dissolution agreement, cash and cash equivalents, receivables, liabilities,
and equity accounts will be shared equally because Dr Yomunde was the partner who worked
in the practice on a full-time basis. Dr Walilato will be responsible for paying off all her liabilities
in her personal capacity. All payables were informed through a hired lawyer to assist with the
dissolution agreement.
Required:
You must capture the opening balance accounts, including capital contribution and
accumulated depreciation for all non-current assets as of 1 September 2023 for Yomunde
Health Wise Practice (Period one).
UPDATE YOUR TRANSACTIONS BEFORE PROCEEDING TO THE NEXT QUESTION.
YOU ARE NOT REQUIRED TO PRINT ANY REPORT AT THIS STAGE.
Part B: Period One Transactions
In this section, you are required to process the payments and receipt transactions. All
transactions must be processed only in the general ledger {GL). No creation/modification of
accounts in the GL.
You were informed that the transactions in period one (1) for the FNB bank account were not
all recorded. The Dr 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 6).
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The following EFT payments and receipts were made in the practice books.
EFT2602
EFT2603
EFT2604
FFT2606
EFT2608
EFT26011
FFT2610
DEP1101
DEP1103
DEP1104
DEP1105
Casual medical doctors fees
FedEx Namibia service fees
Santam Namibia service fees
Lady Pohamba Hospital - Account payment
Sisa Namdje & Co - (attorney fees)
Medisun Pharmacy - Medical supplies
Secretary's remuneration
Capricorn - Unit Trust Interest
PSMES - Account payment
Monthly consulting fees - cash patients
Kuku Gashambo - Account payment
N$8 580
N$4 370
N$2 810
N$21 750
N$8 470
N$34 550
N$6 050
N$2 490
N$31 760
N$47 370
N$5 960
Part C
Yomunde Health Wise Practice year-end adjustments:
Dr Yomunde provided you with the following year-end adjustments, which have not yet been
recorded in the practice's books. All year-end adjustments should be processed in period 12.
• At the end of the financial period, the Oshakati High Court declared Kuku Gwashambo
insolvent. This was done because she faced many financial difficulties meeting her
monthly debts.
• Dr Yomunde brought in an Erf (305 square meters) valued at N$310 700. She acquired
the Erf in her private capacity in Tsumeb and intends to open another branch in that
town in the next two years.
• The scooter owned by the practice, which cost N$29 000, was involved in an accident
on 31 July 2024. The scooter was not insured at the time of the accident.
• At the end of the financial period, Dr Yomunde adjusted the allowance for credit losses
at a rate of 10% on all outstanding receivables.
• Provide for depreciation on all non-current assets owned by the entity during the
current financial period.
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Requirements:
You are required to process the above year-end adjustments and cash book transactions of
Yomunde Health Wise Practice.
1. Print out a detailed ledger as at 30 August 2024.
• Account start 1000 - Account end 9990
• Sub account start 000 - Sub account end 999
• Period 1 - Period 12
2. Print out all supplier's and customer's detailed ledger as at 30 August 2024.
• Customers
• Suppliers
• Period: 1 - Period 12
3. Print out the bank reconciliation for period one.
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ANNEXURE A
---·,"' -~ .......
-
FNB NAMIBIA
Bank Statement- Yomunde Health Wise Practice: September/October 2024
Date
Details
Dr/Cr (N$) Balance (N$)
1 Sept 23 Balance b/f
-
60 750
5 Sept 23 Namcor Service - petrol
(1 650)
59 100
11 Sept 23 Health Professions Councils of Namibia
(3 580)
55 520
15 Sept 23 FedEx Namibia
(4 370)
51 150
16 Sept 23 Walton Namibia - office accessories
(2 010)
49 140
16 Sept 23 Capricorn - Unit Trust Interest
2 490
51 630
18 Sept 23 Oshakati Old Age Home - Groceries
(12 350)
39 280
Hampers
19 Sept 23 UNAM Medical School - First Aid course
(3 185)
36 095
19 Sept 23 . Erongon:,ed- Sona machine servicing fees
(12 400)
23 695
20 Sept 23 Consulting fees
47 370
71 065
21 Sept 23 Sisa Namdje & Co
(8 470)
62 595
22 Sep·t23 ·Pick n Pay - Office consumables (Tea,
(2 070)
60 525
Coffee & cool drinks)
24 Sept 23 Lady Pohamba Hospital - Account payment (21 750)
38 775
24 Sept 23 Staff remunerations
(6 050)
32 725
25 Sept 23 FNB Namibia - Yomule Health practice
(680)
32 045
(account service fees)#
25 Sept 23 FNB Namibia- account service fees
(860)
31 185
27 Sept 23 Avani Hotel
(10 940)
20 245
27 Sept 23 MTC Namibia - Service charges
(2 080)
18 165
29 Sept 23 Oshakati Dry Cleaners - service fees
(540)
17 625
30 Sept 23 Namibia Medical & Health publishers
(3 280)
14 345
02 Oct 23 Oshakati Town Council - Rates & Taxes
(9 670)
4 675
04 Oct 23 Kuku Gashambo - Account payment
5 960
(1 285)
# - This transaction is not related to Yomunde Practice. The bank charged it in error.
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