Financial Accounting · 2018

From the previous syllabus. Asks for a three-column cash book (6 marks), the ledger accounts (8 marks) and a trial balance (6 marks).

From the previous syllabus. Asks you to prepare a three-column cash book from a month of transactions. Parts (b) and (c) ask for ledger accounts and a trial balance.

From the previous syllabus. Gives the statements of a manufacturing company for two years and asks for the statement of cash flows by the indirect method.

From the previous syllabus. Each asks for a full statement of cash flows by the indirect method, so you must also find purchases and proceeds of non-current assets, share issues, loan movements and dividends paid for the investing and financing sections.

From the previous syllabus. A trader’s records are destroyed by a flood. From the balances recovered, asks you to calculate the capital at the start of the year (6 marks), prepare the statement of profit or loss (8 marks) and the statement of financial position (6 marks).

From the previous syllabus. Asks you to define depreciation (2½ marks) and list five factors to consider in the charge (7½ marks). Part (c) asks for non-current asset and bank accounts.

From the previous syllabus. In the first, two sole traders form a partnership and the statement of financial position is required. In the second, a sole trader takes a partner in on revalued assets, with equal capital, and asks for the revaluation account, the capital accounts and the statement of financial position.

From the previous syllabus. Asks you to outline six general rules between partners where there is no agreement, and to state ten provisions that a partnership agreement should contain.

From the previous syllabus. Asks you to explain a chart of accounts and its usefulness.

From the previous syllabus. A trial balance that fails to agree by ₦8,204,000 debit excess. Asks for the correcting journals (10 marks) and the suspense account (7 marks).

From the previous syllabus. Asks for the suspense account after correcting errors with a debit excess of ₦8,204,000.

From the previous syllabus. Asks you to prepare a weekly petty cash book with an imprest float of ₦20,000 and columns for postage and telephone, travelling, office expenses and electricity (16 marks), and to state how the expense column balances are treated in the ledger (4 marks).

From the previous syllabus. A trial balance with credits exceeding debits by ₦1,030,000. Asks for the correcting journals (15 marks) and the suspense account (5 marks).

From the previous syllabus. Asks for the suspense account for a trial balance with a credit excess of ₦1,030,000.

From the previous syllabus. Part (a) (6 marks) gives a net worth at the start and end of a year, shares sold and a bank loan put into the business, and private drawings, and asks for the profit. Part (b) (14 marks) gives the balances of a distribution company at two dates, with drawings, extra capital from a private dividend and write-downs of furniture and the motor van, and asks for a statement showing the profit or loss.

From the previous syllabus. Gives balances of a company including cash, prepaid insurance, inventory of spare parts, a machine, loan notes and share capital, and asks you to prepare the extended trial balance showing the adjustments.

From the previous syllabus. Asks for the annual depreciation of a machine with an initial cost, installation cost and estimated output in units for each of five years.

From the previous syllabus. Asks you to open a trader’s books by a journal and pass the following transactions through the journal.

From the previous syllabus. The same two tasks with a year end of 30 April: the rent recognised in profit or loss (3 marks) and in the statement of financial position (1 mark), then a rental income account (8 marks).

From the previous syllabus. A property owner’s summary of rent: accrued and prepaid at two dates, rent received, rent to be written off and an agreement fee. Asks for a rental income account.