Get premium membership and access revision papers, questions with answers as well as video lessons.
Got a question or eager to learn? Discover limitless learning on WhatsApp now -
Start Now!
Bridging Course In Management Bcm 003 Question Paper
Bridging Course In Management Bcm 003
Course:
Institution: Kenya Institute Of Management (Kim) question papers
Exam Year:2010
1)Distinguish clearly the following terms as used in accounting
a)Returns inwards and returns outwards
b)Discount received and discount allowed
c)Trial balance and balance sheet
d)Credit note and debit note
e)Depreciation and net book value (20 marks)
2)The trial balance of upendo a sole proprietor as at 31st December 2005 did not agree and the difference,a debit figure of 2,800 was transferred to the suspense account,a trading,profit and loss account was prepared and showed a net profit of sh64,000,the following errors were later discovered:
i)rent undercast sh 800
ii)rates overcast sh 2,000
iii)sales overcast sh 2,800
iv)cash payment to creditors entered in the cash book only sh1,200
v)complete omission of drawing by cheque sh 600
vi)a credit purchase of sh 7,500 entered in the books as sh 5,700
required:
a)Journal entries to correct the above errors(12 marks)
b)Draw the suspense account (8 marks)
3)Outline the causes of differences between cashbook balance and bank statement balance(7 marks)
4)The fact that all the credit entries agree with the total of all debit entries,does not necessary guarantee the accuracy of the entries in the ledger aacounts,discuss(20 marks)
5a)Explain the objectives of book keeping(10 marks)
b)What is the purpose of a trial balance(10 marks)
More Question Papers
Popular Exams
Return to Question Papers