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CAC710S-COMPUTERISED ACCOUNTING 301-2ND OPP-JULY 2025 |
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n Am I BI A u n IVER s I TY
OF SCIEn CE Ano TECHn OLOGY
FACULTY OF COMMERCE, HUMAN SCIENCEAND 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: JULY 2025
PAPER: PRACTICAL
DURATION: 3 HOURS (Including printing and set
up)
MARKS: 100
SECOND 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
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 January 2024
01/01/2024
Balance Forward
Bank Windhoek
Plain Paper
No GRN and Purchase Orders
Background of the organisation.
You are provided information by the manager of Nakavolelwa Construction Pty Ltd.
Nakavolelwa Construction Pty Ltd was established by John and Joseph a few years back. The
organisation is constructing and selling modern townhouses in Ohangwena, Oshana and
Kavango East regions. The company's bookkeeper didn't have enough experience recording
transactions in Pastel V50, which was recently bought. Hence, she asked you to assist in
recording the transaction. Nakavolelwa Construction Pty Ltd is registered for tax purposes
(VAT Number: 6547363-01-6). You are supplied with a list of company account balances to
help the manager prepare reports.
You are provided with the following list of account balances for Nakavolelwa Pty Ltd, as at 1
January 2024.
Property, Plant and Equipment
Accounts receivable
Accounts payable
Inventory
Share capital
Cash and cash equivalents
Operating expenses already paid
Allowance for credit losses
VAT receivables
Company tax payables
Shareholders for dividends
Prior year's profits
Note
1
2
3
4
5
6
N$
3811900
926 800
942 200
648 145
2 812 250
91 999
9460
29 500
11 430
20 230
37 670
32 400
Supporting information relating to notes on opening balances:
Note 1: Property, Plant and Equipment's
N$
Non-current assets (See fixed assets register on page 3)
Office and warehouse building
1 311 400
2 500 500
3 811 900
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Fixed Assets Register:
Asset
number
ODC010
MTT011
CMS012
CDC013
PMS014
Description
Acquisition
date
Office Desktop
Computers
MAN- Tipper Trucks
Concrete mixers
Cabinets, desks and
chairs
Paper shredders
and Scanners
31/04/2020
01/09/2021
01/01/2020
01/03/2020
31/10/2022
Cost price
(N$)
80 000
700 000
320 900
175 000
35 500
1 311 400
Residual
value
(N$)
-
Life span
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, plant and equipment owned by Nakavolelwa Pty Ltd are depreciated using
the straight-line method.
• Depreciation is calculated on assets in existence at the end of each year using the
basis of one month's ownership.
• No depreciation to be charged on assets in the year of disposal.
• Land and buildings are not depreciated as they are carried at fair value.
Notes 2: Accounts receivable
The following is an age analysis for the credit customers.
A,ge anaIIys1.s
Debtors name &
code
Sintentu
(SIN100)
Mulela
(MUA200)
Helena
(HLN400)
Current
(N$)
330 500
(Dr)
-
-
30 days
(N$)
-
-
44 800
(Dr)
60 Days
(N$)
210 000 (Dr)
90 Days
(N$)
-
120 Days
(N$)
17 000 (Dr)
260 000 (Dr) 30 000 (Dr)
-
-
-
34 500(Dr)
Note 3: Accounts payable
Creditors name
& code
Shitaka
SHA100
Shikandela
SHL200
Current
N$
110 400
Cr
30 days
N$
60 Days
N$
Cr
90 Days
N$
120 Days
N$
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Note 4: Inventory
Value of cements, sand and concrete stones
N$150 645
Value of two unfinished houses
N$497 500
N$648 145
Note 5: Share capital
The authorised share capital of Nakavolelwa Construction Pty Ltd is 900 000 ordinary shares
of N$3.20 per share. The total value of unissued share capital is N$1 728 000. All shares were
issued at par value.
Note 5: Cash and cash equivalents
Current account-Bank Windhoek (Balance as per cashbook Cr)
Petty cash
Required:
N$87 421
N$4 578
N$91 999
You must capture the opening balances of Nakavolelwa Construction Pty Ltd accounts,
including the accumulated depreciation for all non-current assets as of 1 January 2024 (Period
one).
UPDATE YOUR TRANSACTIONS BEFORE PROCEEDING TO THE NEXT QUESTION.
NB: No report is required to be printed at this stage.
Part B
Period 1 (one) Transactions: In this section, please note you are required to create
inventory items for the construction company and process customer's transactions
accordingly. All amounts are inclusive of tax.
Table 1: Price List
House types
2 Bedroom Flat
3 Bedroom House
4 Bedroom House
Item Code
BKS120
BPF230
BJC400
Material (N$)
110 000
166 000
211 600
Labour (N$)
50 000
60 000
91 000
Profit (N$)
120 000
150 000
240 000
A consultant who specialises in determining construction contract costs has established that
overheads per house/flat are absorbed at a rate of 140% per labour cost.
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The following houses were completed during the current period and an adjustment must be
made:
Two, 2-Bedroom Flats were constructed and completed.
Two, 3-Bedroom Houses were constructed and completed.
Two, 4-Bedroom Houses were constructed and completed.
Customer's transactions:
The entity sold and processed the transactions from all the customers on account as follows:
Mulela - Sold the following house: One, 2-bedroom flat and one, 4 Bedroom house.
Sintentu - Sold the following items: Two, 3-Bedroom houses. The customer was given an
invoice discount of 10%.
Part C: 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 Bank Windhoek account were
not all recorded. The owner 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).
DEP354
EFT895
EFT569
DEP574
EFT987
EFT674
DEP555
EFT698
EFT781
Mulela -Account payment
Site worker's remuneration
Estate agent fees
Sintentu - Account payment
New Era - Marketing campaign
Engen Service - Concrete mixer's fuel
Nam RA - refund
Coastal Hire - excavator's hire
Shikandela - Account payment
N$53 590
N$36 870
N$21 800
N$47 230
N$3 690
N$6 478
N$10 245
N$17 630
N$34 000
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Part D: Year-end adjustments
You were provided with the following year-end adjustments transactions, which have not yet
been recorded in the company's books. All year-end adjustments should be processed in
period 12.
• Mulela complained about an invoice amount on her statement, which had been
outstanding for three months; her reasoning was that she had never received an
invoice worth that amount. An investigation was conducted, and it was discovered that
the invoice amount was, in fact, a credit sale to Sintentu.
• At the end of the financial period, the directors of the company declared dividends on
all issued shares during the previous financial period at N$0.10 per share. I
• The outstanding balance on Helen's account could not be recovered as the debtor was
declared insolvent in December 2024. The firm managed to recover N$17 000 in cash
(this was deposited in the company's current account on the same day), and the
remaining amount was written off.
• Due to the financial crisis that is facing the firm's industry and its customers, the
directors of the company decided to increase the amount of provision for bad debts to
N$36 300.
• One of the concrete mixers with a cost price of N$20 000 owned by the company was
stolen on 31 December 2024. A claim to the insurance was submitted, and an amount
of N$8 000 was received via EFT.
• Provide for depreciation on all non-current assets owned by the company during the
current financial period.
Required:
1. Make the necessary entries in the books of original entry for December transactions
(In Period 12). Print out a bank reconciliation report for period one.
2. Print out a detailed ledger as of 31 December 2024.
• Account start 1000 - Account end 9990
• Sub account start 000 - Sub account end 999
• Period 1 - Period 12
3. Print out all supplier's and customer's detailed ledger as at 31 December 2024.
• Customers
• Suppliers
• Period: 1 - Period 12
THE END
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ANNEXURE A
\\\\-)t
Bank Windhoek
Bank Statement- Nakavolelwa Construction Pty Ltd: January/February 2024
Date
Details
Dr/Cr (N$) Balance (N$)
02 Jan 24 Balance b/f
-
(87 421)
04 Jan 24 Conrad & Co Architect - fees
(21 450)
(108871)
06 Jan 24 Engine Service - Office vehicles' fuel
(6 478)
(115 349)
10 Jan 24 Petty cash-Transfer
(5 500)
(120 849)
15 Jan 24 Ondangwa Town Council- Rates & Taxes
(7 680)
(128 529)
(site)
15 Jan 24 NamRA - refund
10 245
(118 284)
16 Jan 24 New Era - marketing campaign
(3 690)
(121 974)
17 Jan 24 King price - tipper truck & concrete mixer
(11 350)
(133 324)
18 Jan 24 G4S - monthly services
(2 185)
(135 509)
18 Jan 24 Ongwediva town council - penalties
(3 100)
(138 609)
18 Jan 24 Nam Post - Service fees
(680)
(139 289)
20 Jan 24 NamRA - company tax
(7 570)
(146 859)
24 Jan 24 Remuneration - Administration staff
(19 650)
(166 509)
25 Jan 24 Bank Windhoek - service fees
(742)
(167 251)
25 Jan 24 Waltons - office consumables
(950)
(168 201)
25 Jan 24 Valombola Vocation Centre - Building course
(7 800)
(176 001)
27 Jan 24 Rent a Drum - service fees
(3 750)
(179751)
29 Jan 24 Shareholder's dividends
(26 300)
(206 051)
30 Jan 24 Remuneration - site worker's
(36 870)
(242 921)
02 Feb 24 Mulela -Account payment
53 590
(189 331)
06 Feb 24 Shikandela - Account payment
(34 000)
(223 331)
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