ACC 111 (PRINCIPLES OF ACCOUNTING 1) ASSIGNMENT

1. The following information has been given to you about factory plant and machinery of

Ajimatanraeje Nigeria Limited.

Cost                             N7.5 million

Scrap value                  N1,250,000

Useful life                   6years

You are required to calculate the annual depreciation charges for each year using:                     

(a) Reducing Balance Method

(b)  Sum of the year Digit Method

2.    The following information has been given to you about factory plant and machinery of

Ajimaronu Nigeria Limited.

Cost                             N6 million

Scrap value                  N750,000

Useful life                   8years

You are required to calculate the annual depreciation charges for each year using:                     

(a) Reducing Balance Method

(b)  Sum of the year Digit Method

INSTRUCTION: SUBMIT  TO YOUR CLASS GOVERNORS
                         ON OR BEFORE 9A.M

                             SATURDAY SEPTEMBER 21, 2019.

YOU ARE ALL WELCOME TO SECOND SEMESTER SUMMER 2019. 

                                    PATRIOT ODUNARO B.J. (08038454008)

ACC 111- PRINCIPLES OF ACCOUNTING 1 PART TIME

(a) Assignment Won Wa Die Limited provides the following information as at 31st December, 2018.

	N
Purchases	2,763,000.00
Revenue	10,863,000.00
Drawing	1,057,500.00
Return Inwards	547,500.00
Return Outwards	465,000.00
Discount Allowed	765,000.00
Discount Received	630,000.00
Trade Receivables	3,375,000.00
Trade Payables	4,282,500.00
Inventory	2,572,500.00
Land	345,000.00
Motor at cost	900,000.00
Furniture at cost	187,500.00
Accumulated depreciation on motor	337,500.00
Accumulated depreciation on furniture	75,000.00
Cash at bank	375,000.00
Cash in hand	142,500.00
Salaries	3,045,000.00
Carriage Inwards	1,665,000.00
Carriage Outwards	772,500.00
Printing and Stationery	270,000.00
Electricity and water	1,110,000.00
Insurance	510,000.00
General Expenses	2,610,000.00
Provision for bade debt	15,000.00
Bad debt already written off	30,000.00
Capital	5,250,000.00
Rent Received	285,000.00
Commission Received	840,000.00

Prepare a trial balance for the company as at that date.

(b) State what the Accountant will do if the error still cannot be located in the trial balance.

INSTRUCTION: SUBMIT  TO YOUR CLASS GOVERNORS
                         ON OR BEFORE 9A.M

                             SATURDAY SEPTEMBER 14, 2019.

YOU ARE ALL WELCOME TO SECOND SEMESTER SUMMER 2019.

PATRIOT ODUNARO B.J. (08038454008)

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ACC 121-(PRINCIPLES OF ACCOUNTS 2 ) ASSIGNMENT FOR FULL TIME AND PART TIMELCP

ASSIGNMENT 1:

The following balances were extracted from the books of Alatishe Enterprises on 31^st December, 2018.

                                                                                    N

Sales ledger, debit balance 1/1/2016                           98,260

Sales ledger, credit balance 1/1/2016                            2,370

Bought ledger, credit balance 1/1/2016                      72,190

Bought ledger, debit balance 1/1/2016                         4,210

Credit purchase                                                         513,620

Credit sales                                                               781,540

Accounts settled by contra                                            6,220

Bills dishonoured                                                           7,500

Bills debts written off                                                    5,260

Bills of exchange drawn on customers                        34,730

Returns Inward                                                              7,450

Returns Outwards                                                          8,920

Cash received from debtors                                       689,230

Cash paid to suppliers                                                495,140

Discount Received                                                       19,320

Discount Allowed                                                       24,750

Cash refunded to customers                                          1,270

Sales ledger, credit balance 31/12/2016                         2,010

Bought ledger, debit balance 31/12/2016                      3,340

You are required to prepare:

(a)    Sales Ledger Control Account

(b)   Purchases Ledger Control Account

ASSIGNMENT 2:

The following balances were extracted from the books of Aiyegbaogbon Enterprises on 31st December, 2018.

                                                                             N

Sales ledger, debit balance 1/1/2018                     98,260

Sales ledger, credit balance 1/1/2018                      2,370

Bought ledger, credit balance 1/1/2018                 72,190

Bought ledger, debit balance 1/1/2018                    4,210

Cash purchases                                                      27,380

Cash sales                                                             19,360

Accounts settled by contra                                      6,220

Bills dishonoured                                                    7,500

Bills debts written off                                              5,260

Bills of exchange drawn on customers                  34,730

Returns Inward                                                        7,450

Returns Outwards                                                    8,920

Cash received from debtors                                 689,230

Cash paid to suppliers                                          495,140

Discount Received                                                 19,320

Discount Allowed                                                  24,750

Cash refunded to customers                                     1,270

Sales ledger, debit balance 31/12/2018                120,570

Sales ledger, credit balance 31/12/2018                   2,010

Bought ledger, debit balance 31/12/2018                 3,340

Bought ledger, credit balance 31/12/2018              55,340

Show all necessary workings.

You are required to prepare:

(a)  Credit Sales

(b) Credit Purchases

(c)  Total Sales

(d) Total Purchases

BEST OF LUCK!

INSTRUCTION: SUBMIT INDIVIDUALLY TO CLASS GOVERNOR(S) ON OR BEFORE 9A.M ON WEDNESDAY SEPTEMBER 4, 2019 AND FOR PART TIME ON SATURDAY SEPTEMBER 21, 2019

YOU ARE ALL WELCOME TO SECOND SEMESTER SUMMER 2019.

PATRIOT ODUNARO B.J. (08038454008)

For Brain Development visit:  

https://britstutors.blogspot.com/search?q=brain