Description
BOOK KEEPING AND ACOUNTING
Question One:
- Using legal terms of your choice, explain the use of any five source documents, including the principal components of each document. (5 Marks)
- (i) What are the main causes of differences between the cash book bank balance and bank statement balance? (5 Marks)
(ii)       Explain the main uses of control accounts.           (4 Marks)
- Njuguna maintains a petty cash book on imprest system. The imprest is Shs.30,000. The following transactions took place in April, 2014.
April 1 Received imprest form the cashier of Ksh.30,OOO
April 3 Bought postage stamps of Shs. 2,000
April 6 Paid Sh. 4,000 for Peter’s account in purchases ledger April 7 Bought stationery of Shs. 5,000
April 8 Paid travelling allowance to S. Otieno, an employee Sh.4000.
April 10 Paid window cleaning expenses Shs. 6000
April 12 Paid Lenancies account in purchases ledge Shs. 5,000
April 14 Paid subscription for trade association Shs.2000
April 18 Received Shs. 30,000 from cashier
April 19 Paid S. Otieno for travelling expenses Shs. 10,000Â Â KENYA SCHOOL OF
April 22 Bought electric light bulbs Shs. 2,000Â Â Â Â Â Â TOWN CAMPUS
April 24 Paid Lenancies accounts in the purchase ledger Shs. ,2500
April 26 Paid travelling expenses Shs.1,000
Apri127 Paid for sugar, tea and milk Shs. 3,000
Required:
Enter the transactions into a petty cash book under analysis column; postage and stationery, travelling expenses, cleaning expenses, sundries and ledger column.
(ii) Balance the cashbook showing the reimbursement required to restore the imprest and the balance brought forward as at 1st May, 2014.
(11 Marks)
BOOK KEEPING AND ACOUNTING 2 2010-2016-1-2
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