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FORM ONE MIDTERM EXAMINATION MARCH 2020

062 BOOK KEEPING

TIME 2 HOURS Monday 23RD March 2020 Pm

INSTRUCTIONS
Attempts all question below.

1. Define the following terms

(i) Book – keeping
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(ii) Trial balance
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(iii) Debtor
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(iv) Creditor
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2. Mention five (5) objective of book – keeping

(i) ……………………………………….............................................................
(ii) ………………………………………............................................................
(iii) …………………………………….................................................................
(iv) ……………………………………................................................................
(v) ……………………………………................................................................

3. Mention two side of ledger

(i) ……………………………............................................................................
(ii) ……………………………...........................................................................

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4. Saud started business on 1st of June 1980 with Tshs. 10,000 as capital.
June 2. Bought goods for cash 5000
2. Paid transport charges 500
3. Bought packing material and paid cash 3000
4. Sold goods for cash 800
5. Sold goods for cash 1000
6. Purchased goods and paid 1200
8. Paid wages 2000
10. Cash sales 300
12. Cash purchases 1500
15. Cash sales to date 2500
20. Paid rent 500
Required. By applying the double entry principle, enter the above transaction in the
appropriate ledger account.
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5. Muya started his business on 1st January 1990, which capital in cash Tshs. 5,000. In
the month of, the following transaction occurred open trial balance.

January 2.Purchased god and paid cash 1,000

3. Bought goods for cash 500
5. Paid wages in cash 50
7. Sold goods for cash 3,000
8. Bought goods for cash 800
9. Bought packing material for cash 20
10. Paid transport charges 30
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