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CAC710S-COMPUTERISED ACCOUNTING 301-1ST OPP- NOV 2025 |
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nAmlBIA unlVERSITY
OF SCI En CE An □ 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: OCTOBER 2025
PAPER: PRACTICAL
DURATION: 3 HOURS {Including printing and set
up)
MARKS: 100
FIRST 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 related to this paper may be raised during the initial 30 minutes after the
paper begins. 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
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 May 2024 - 30 April 2025
01/05/2024
Balance Forward
Bank Windhoek
Plain Paper
No GRN and no Purchase Orders
Background of the organisation.
Mr Green Beukes bought a farm a few years ago called Lilongela Farm Pty. The farm is
situated in the Oshikoto region and has operated successfully since its inception. Lilongela
Farm Pty accounting records have been recorded manually and the owner wants records to
be captured in Patel 50c, a program he recently bought. The farm is not registered for VAT.
You are supplied with a list of farm account balances to help the accountant on sabbatical
leave.
You are provided with the following list of account balances for Lilongela Farm Pty, as at 1
May 2024.
Property, Plant and Equipment
Share capital
Cash and cash equivalents
Accounts receivable
Accounts payable
Livestock
Outstanding operating costs
Allowance for credit losses
Farm corporate tax
Accumulated loss
Dividends for shareholders
Bank Windhoek Loan- 12.5% prime rate
Note
1
2
3
4
5
6
N$
4 556 000
1 650 000
30 532
84 400
77 800
????
8 740
29 700
19 830
36 090
32 400
370 700
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Supporting information relating to notes on opening balances:
Note 1: Property, Plant and Equipment's
N$
Non-current assets (See fixed assets register)
Farm plot (7 000 sq. meters) and water Dam
1 256 000
3 300 000
4 556 000
Fixed Assets Reqister:
Asset
Description
number
Acquisition
date
AU012
AU013
AU014
AU015
AU016
Office chairs, desks
& filinq cabinets
Combine Harvester
HP Laptops
Toyota Land Cruiser
Patent
31/08/2021
01/01/2020
01/03/2022
31/10/2021
01/07/2020
Cost price
(N$)
185 000
210 000
80 500
655 000
125 500
1 256 000
Residual
value
(N$)
-
Life span
10
-
10
-
10
-
10
-
10
Property, Plant and Equipment's depreciation policy:
Property, plant and Equipment owned by the farm are depreciated using the following policy:
• All property, plant and equipment owned by Lilongela Farm Pty are depreciated using
the diminishing balance method at a rate of 10%.
• Depreciation is calculated on assets in existence at the end of each year, using a basis
of one month's ownership.
• No depreciation to be charged on assets in the year of disposal.
• The farm plot, water dam and Patent are not amortised.
Note 2: Share capital
The value of the authorised share capital of Latungika Farm Pty is N$1 750 000 ordinary
shares of N$4.00 per share. The total number of unissued share capital is 190 000. All shares
were issued at par value.
Note 3: Cash and cash equivalents
Petty cash
Current account (balance as per bank statement Cr)
Notes 4: Accounts receivable
Naakuse Farm cc (NF001)
Meesu Pty (ME002)
Shiyeta Farm (SE003)
Note 5: Accounts payable
Kuku Farm Ltd (KU001)
Kokaku Distributors Pty (KU002)
Lukaku cc (LU003)
3
N$
3 042
27 490
30 532
N$
62 500
?
24 250 Cr
84 400 Dr
N$
41 500
34 800
1 500
77 800 Cr
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Note 6: Livestock
The livestock sheet contains the list of all the farm's livestock at the beginning of the financial
period obtained after the livestock count. The farm's policy is to value livestock at cost price.
Livestock are sold at a profit of 20% on sales margin.
Inventory Items
Belgian Blue Cattle
Hereford Cattle
Brown Swiss Cattle
TexelSheep
Item Code
BBC789
HCS524
BSC698
TES574
Selling Price
N$
14 500
15 250
17 625
2 750
Quantity on
hand
47
31
-
42
Required:
You must capture the opening balances of Lilongela Farm Pty accounts, including the
accumulated depreciation for all non-current assets as of 1 May 2024 (Period one).
UPDATE YOUR TRANSACTIONS BEFORE PROCEEDING TO THE NEXT QUESTION.
PARTB
Period one Transactions: In this section, please note you must process suppliers' and
customer's transactions accordingly. The farm's trading policy allows a discount of 3% on
the cheapest sales livestock if the total sales exceed N$780,000.
Supplier's transactions:
The following are monthly transactions for livestock bought on account.
Supplier transaction:
Kuku Farm cc - Bought 46 Brown Swiss Cattle, 21 Hereford Cattle and 14 Texel Sheep.
The supplier gave a trade discount of 4% on the Brown Swiss Catties. The livestock were
delivered on the same date. Invoice number: NAAK214
Customer's transactions:
The entity sold and processed all sales of livestock items from all the customers on account
as follows :
Naakuse Farm cc - Sold the following livestock: 27 Hereford Cattle, 22 Belgian blue Cattle
and 28 Texel Sheep.
Supplier's returns:
Kuku Farm cc - Returned 3 Texel Sheep because they were of the wrong breed.
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Part C: Period One Transactions
In this section, you are required to process the payments and receipt transactions. All
transactions must be processed in the general ledger (GL) . No creation/modification of
accounts in the GL.
You were informed that not all transactions in period one (1) for the Bank Windhoek account
were recorded. Mr Green 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
EFT555
EFT698
EFT781
Naakuse Farm cc -Account payment
Farm worker's remuneration
Supplements & minerals (Cows)
Meesu Pty - Account payment
The Namibian - Marketing campaign
Heating & lighting - (70% farm & 30% office)
Office space rent
Coastal Hire - cultivator's hire
Kokaku Distributors - Account payment
N$33 590
N$36 970
N$17 830
N$16 430
N$4 690
N$9 478
N$10 245
N$20 630
N$14 040
Part D: Year-end adjustments
The accountant provided you with the following year-end adjustments transactions, which
have not yet been recorded in the farm's books. All year-end adjustments should be processed
in period 12.
• The auditor discovered that the combine harvester value was overstated since
acquisition by N$10,000 and recommended an adjustment.
• 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.
• Due to the financial crisis facing the farming industry and its customers, the company's
directors decided to adjust the allowance for credit losses to N$37,800.
• Interest on the Bank Windhoek loan for the current period has not yet been accounted
for in the books.
• A computer server with a lifespan of 10 years was purchased from Lukaku CC on
January 1, 2025, on account. The server will serve as a communication hub for CCTV,
computers, and portable devices for monitoring purposes. It was delivered on the
same date at the farm's premises. Lilongela farm was issued an invoice from Lukaku
cc, which is made up of the following items:
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(a) The actual invoice amount for the server is N$125 000.
(b) The installation cost of the server at the premises is N$2 500.
(c) Operating system Windows 11 .5V for server N$21 000.
(d) The training cost for using given to IT staff is N$4 500.
• Provide for depreciation on all non-current assets owned by the farm during the current
financial period.
Required:
1. Make the necessary entries in the books of original entries for all transactions (In
Periods 1 & 12). Prepare a bank reconciliation statement for May 2024 in period one.
Print out a bank reconciliation report on the same date.
2. Print out a detailed ledger as of 30 April 2025.
• Period 12
3. Print out all supplier's and customers' detailed ledgers as at 30 April 2025.
Period: 12
THE END
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ANNEXUREA
Bank Windhoek
Bank Statement- Lilongela Farm Pty: May/June 2024
Date
Details
02 May 24 Balance b/f
04 May 24 King Price Insurance
06 May 24 Engine Service - Oil & Fuel
10 May 24 Petty cash-Transfer
15 May 24 Omuthiya Town Council- Heating & lighting
Dr/Cr (N$)
-
(11 450)
(8 878)
(3 570)
(9 478)
15May24
16 May 24
17 May 24
18 May 24
18 May 24
18 May 24
20 May 24
24 May 24
25 May 24
25 May 24
25 May 24
27 May 24
29 May 24
30 May 24
02 June 24
03 June 24
Remuneration - Farm workers
Bank Windhoek- loan repayment#
Meesu Pty - Account payment
Office space rent
Carriage inward-Cows
NamPost - Service fees
NamRA-farm tax
Remuneration - Administration staff
Bank Windhoek - service fees
Waltons - office consumables
UNAM Nuedamm - Short course on animal
feed
Rent a Drum - service fees
Kuku Farm -Account payment
Parasiticides medication - Sheep
Kokaku Distributors - Account payment
Sales commission - Hereford Cattle
(36 970)
(23 690)
15 460
(10 245)
(36 970)
(980)
(11 570)
(19 650)
(842)
(950)
(14 800)
(4 750)
(22 300)
(6 870)
(14 040)
(4 000)
Balance (N$)
27 490
16 040
7 162
3 592
(5 886)
(42 856)
(66 546)
(51 086)
(61 331)
(98 301)
(99 281)
(110 581)
(130 501)
(131 343)
(132 293)
(147 093)
(151 843)
(174 143)
(181 013)
(195 053)
(199 053)
# - The payment made on 16 May 2024 to Bank Windhoek is for the loan repayment. Thirty
per cent of the amount is for the capital, and the remainder is for loan financing.
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