CHUO EDUCATIONAL ESTABLISHMENT EXAMINATION BOARD (CEEEB)

SECOND TERM EXAMINATION

SUBJECT INTERNATIONAL ACCOUNTING STANDARD Time: 1 hour 30mins
CLASS FORM THREE COMMERCIAL DATE:
NAME
Section A: ESSAY
You are provided with the following transactions for the month of April 2016 by CAMPALLA enterprise:
April 1 Started business with capital of 2000,000 FCFA
April 2 Bought goods on credit 500,000 FCFA
April 3 Sold goods on credit 600,000 FCFA
April 5 Received cash from a customer 400,000 FCFA
April 7 Bought goods by cash 300,000 FCFA
April 9 Sold goods by cash 700,000 FCFA
April 11 Cash deposited in the bank 550,000 FCFA
April 13 Paid suppliers by cheque 200,000 FCFA
April 15 Paid transport by cash 50,000 FCFA
April 17 Bought an office equipment by cheque 90,000 FCFA
April 19 Sold goods by cheque 110,000 FCFA
April 21 Paid salaries by cash 25,000 FCFA
Work required:
a) Identify the various subsidiary books which will be used to record the transactions above. e.g April 1. name of book
(12 marks)
b) Record the transactions necessary in the cash book (8 marks)
SECTION B: MCQS. Mark an X on the correct answer.
1 One of the following is not a book of prime entry. B Compound entry
A Sales daybook C Contra entry
B Purchase daybook D None
C Trial balance 7. How many kinds of cash books exist according to IAS
D Petty cash book A. 2
2 The book that records credit sales is called? B. 3
A Purchase day book C. 4
B Sales day book D. None
C Petty cash book 8. which of the following is not correct for cash book.
D None of the above A. It is a dual book
3 The person in charge of keeping the subsidiary B. It is a journalized ledger
book is called? C. It records liabilities
A Agent D. Double purpose book
B Book keeper 9. Which of the following is not included in the cash
C Sales man book
D Director A. Purchase of 10000FCFA
4.One of the following book is posted directly to the B. Sales of 5000FCFA
general ledger. C. Received cash for salesman 2000FCFA
A Returns inwards day book D. Credit sales of 22000FCFA
B Returns outward day book 10. Contra entry is recorded in?
C Cash book A. Double column cash book
D Purchase day book B. Single column cash book
5. Which of the following books has a column for bank? C. Three column cash book
A Double column cash book D. A and c
B Single column cashbook
C Petty cash book
D None
6. When an entry is made on the both sides of a cash
book is called?
A General entry