Question for the post Accountant

Full marks: 60 Time : 2 hour

1. Make journal entry for the following transactions Mark: 10

a. Goods were sold on credit for Tk.15,000.00 to Mr. Kajal
b. Tk. 10,000 received from Kajal
c. Goods were sold for Tk.30000.00 in cash to Jamal Jamal
d. A fan was bough for Tk.5,000.00
e. Tk. 9,000 was deposited to bank
f. Tk. 30,000 was withdrawn form Bank
g. Salary Tk.25,000 was paid in by Cheque
h. Goods of Tk. 30,000 were purchased on credit from Peter
i. Peter was paid Tk.20,000 by cheque and Tk.10,000 in cash
j. Cheque of Tk.10,000 issued to Robert was dishonored by bank

2. There was an opening balance of Tk.100,000 at bank and Tk.2,000 in hand.

Prepare a cash book considering the opening balances and the entries given
at question 1. Mark: 10

3. On 31 st March 2018 the bank debit balance of Sun Enterprise in cash book was Tk.
73,400 but the bank statement showed a credit balance of Tk 13,400 on the
same date. The accountant discovered the following transactions:
Mark 10

(a) Cheques issued by the project during January, amounting to Tk 35,600 and 19,600,
but they had not been presented to the bank by the end of the March 2018.
(b) The bank had incorrectly credited the project's account with a dividend receipt of
Tk 2,500 relating to another customer.
(c) Bank charges of Tk 10,500 shown on the bank statement had not yet been
entered in the cash book books.
(d) Cheques received from customers amounting to Tk 121,100 were entered in cash
books on 31 March 2018 but was not presented to bank until April 5, 2018.
 (e) Customers deposited Tk 18,000 and Tk 3,100 into bank on March 31, 2018, but no
entry had been made in the cash books.
(f) The statement shows an item 'returned cheque of Tk 7,200'. This was not
accounted for in the cash books.

Required: Prepare the bank reconciliation statement as of 31 March 2018.

4. What is taxable income? Based on the salary structure and basic salary, calculate the
total monthly salary of Mr. Whale. Mark 10
House Rent 50% on Basic
Cost of living allowance 60% on Basic
Medical Allowance per month Tk.1,200.00
Conveyance per Month Tk.500
Basic Tk. 25,000.00

5. What is a ledger? Why a leader is prepared. Prepare a Sales ledger considering the
transactions given at question 1. Mark 10

6. Prepare a balance sheet taking the following balances into accounts. Mark 10

Capital of Tk. 200,000

Debtors Tk. 50,000
Finished goods Tk. 100,000
Bank overdrawn Tk. 120000
Cash Tk. 150,000
Creditors Tk. 100,000
Air conditioner Tk. 100,000
Furniture Tk. 20,000