PRACTICE 1

CREATE A DATABASE FOR SUNGULA LTD FOR A FISCAL

YEAR STARTED JANUARY 2017 TO 31/12/2017, AND
THE BANK BALANCE FROM 2016 IS 5 000 000.
 PRACTICE2
CREATE AT LEAST 5 MAIN ACCOUNTS IN
SUNGULA LTD DATABASE.
EVERY MAIN ACCOUNT HAS AT LEAST 5 SUB
ACCOUNTS
 Practice 3
SUNGULA ltd is selling the following products:
Alcoholic drinking:
Lager beer:
1.Primus:
Knowless
Mubimba
2. skol:
Skol malt:
1.Big
2.small
Skol lager
gatanu
Non alcoholic:
Milk:
Inyange:
1.Fresh milk
2. yoghourt
Highland
Mukamira:
1.Vanilla
2.strawbery
 PRACTICE 4
On 1/1/2019 SOCOGEDI Ltd started its activities with :
Money at bank 10 000 000 rwf
Cash 5 000 000 rwf
Office equipments:
Computer 4 000 000 rwf
Office table 1 000 000 rwf
Office chars 500 000 rwf
Vehicles:
Fuso 25 000 000 rwf
Coaster 35 000 000 rwf
Hilux 5 000 000 RWF
 PRACTICE BUILDINGS:
4 CONTINUED…
Rusizi 30 000 000 rwf
Huye 45 000 000 rwf
Nyagatare 10 000 000 rwf
Customers:
Dusabe 500 000 rwf
Twizerimana 600 000 rwf
Olga 400 000 rwf
Supliers:
Jean paul 800 000 rwf
Aline 400 000 rwf
Ezechiel 500 000 rwf
You are required to create a database of SOCOGEDI by taking
into account all information provided.
 PRACTICE 5
YOU ARE REQUIRED TO RECORD DATA EXTRACTED
FROM A TRIAL BALANCE OF MUHIZI&SONS ON
1/1/2019.
ACCOUNT DEBIT CREDIT
BUILDIG 2 000 000
VEHICLE 500 000
COMPUTER 300 000
BANK 700 000
CASH 500 000
PURCHASE 1 000 000
ELECTRICITY 100 000
 PRACTICE 6
2/1/2015 BOUGHT GOODS ON CREDIT 5 000 000
3/1/2015 SOLD GOODS, 10 000 000 PAID CASH
4/1/2015 ACQUIRED TOYOTA COASTER 10 000 000,
CASH
5/1/2015 PAID SALARY 1 000 000
YOU ARE REQUIRED TO RECORD THESE
TRANSACTIONS AND
RETRIEVE THE FOLLOWING REPORTS:
BALANCESHEET
INCOME STATEMENT
TRIAL BALANCE
 practice7
On 7/1 MUKIZA BOUGHT GOODS ON CREDIT 600 000
KAGABO 700 000,
MUHOZA 900 000,
MICO 1 200 000,
UMULISA 500 000
0N 8/1/ KAGABO PAID 500 000,
UMULISA 200 000.
RECORD AND RETRIEVE A REPORT SHOWING THE
BALANCE ON ACCOUNT OF UMULISA.
 PRACTICE8
THE FOLLOWING TRANSACTIONS ARE FOR UR FOR
ACCOUNTING PERIOD GOING FROM 1/1/2018 TO
31/12/2018.
REGISTRATION FEES IS 35 000
SCHOOL FEES 800 000 PAID IN TWO EQUAL
INSTALMENTS.
THE FOLLOWING STUDENTS REGISTERED ON 2/1/2018 :
KAMANZI PAID REG AND FIRST INSTALMENT
KAMALIZA PAID REGISTRATION ONLY
MUKIZA PAID REGISTRATION ONLY
ERIC DIDN’T PAY ANYTHING
YOU ARE REQUIRED TO RECORD THESE TRANSACTIONS
 Practice 9
The following transactions are for Inyange for accounting
period 1/1/2018 up to 31/12/2018.
The company started with 10 000 000 rwf deposited at
Bank.
On2/1/2018 bought goods on credit from the following
suppliers:
Muhizi 7 000 000
Mugabo 3 000 000
Kalisa 2 000 000
3/1/2018 paid Muhizi 4 000 000
Kalisa 1 500 000
PERIODIC INVENTORY SYSTEM
PURCHASE
DEBIT PURCHASE AC
CREDIT CREDITORS
SALES
DEBIT CASH/BANK/DEBTOR
CREDIT SALES
PERPETUAL INVENTORY SYSTEM
PURCHASE
DEBIT STOCK OF GOODS OR INVENTORY
CREDIT CREDITORS
SALES
1.DEBIT CASH/BANK/DEBTOR
CREDIT SALES
2.TO STOCK OUT WHAT YOU SOLD
DEBIT COST OF GOODS SOLD
CREDIT STOCK OF GOODS OR INVENTORY.
 EXAMPLE
4/1/2015 MUHIZI BOUGHT GOODS 5 000 000 ON
CREDIT
5/1/2015 ALL GOODS BOUGHT ON 4/1/2015 WERE
SOLD PAID CASH 10 000 000
NO DETAILS DEBIT CREDIT
4/1/ INVENTORY 5000 000
CREDITORS 5 000 000
5/1/ CASH 10 000 000
SALES 10 000 000
COST OF 5 000 000
GOODS SOLD
INVENTORY 5 000 000
 PRACTICE 10
ON 1/1/2019 SABANA Ltd STARTED A BUSINESS
WITH 5 OOO OOO PETTY CASH AND 20 000 000 AT
BANK.
ON 2/1 BOUGHT GOODS ON CREDIT:
SUGAR 5 000 000 FROM ISAAC,
RICE 6 000 000 FROM MULISA
COOKING OIL 5 000 000 FROM IZERE
SALT 3 000 000 FROM IRIZA
SKOL 4 000 000 FROM BMC
PRIMUS 5 000 000 FROM SOCOGEDI
 PRACTICE 10 TO BE CONTINUED…
3/1. SOLD: RICE ON CREDIT TO MUHOZA 3 000
000(COST 1 000 000)
SKOL ON CREDIT TO BYIRINGIRO 1 000 000(COST 500
000)
SALT ON CREDIT TO JOHN 2 000 000(COST 1 000 0000
BOUGHT RICE 3 000 000 PAID CASH
SOLD PRIMUS 1 000 000(COST 500 000) .
YOU ARE REQUIRED TO RECORD THESE
TRANSACTIONS.
 PRACTICE 11
MAPENDANO Ltd started its activities on 1/1/2019 for the
accounting period ending on 31/12/2019 with 5 000 000
rwf cash and 15 000 000 rwf at bank.
2/1/ bought sugar 50 sacks @ 20 000rwf/unit on credit
from Kabandana
Rice 20 sacks @ 30 000rwf/unit. On credit from Mico
Cooking oil 150 @ 5000rwf/unit on credit from Rutayisire.
3/1 sold 7 units of cooking oil @ 10 000rwf/unit on credit
to Sibomana
15 sacks of rice @ 45 000 rwf/unit
4/1/ returned sugar to Kabandana 2sacks@ 20000/unit
5/1 Sibomana returned 3 units of cooking oil @
10000rwf/unit
 PRACTICE 12
ON 7/1 PAID TOTAL AMOUNT OWED TO
KABANDANDA.
AND SIBOMANA PAID HIS ENTIRE DEBT.
8/1/ WITHDREW 3 000 000
RECONCILE YOUR BANK KNOWING THAT THE BANK
STATEMENT SHOWS A BALANCE OF 20 000 000.
 PRACTICE 13
On 9/1/2019 MAPENDANO ltd odrer the following items
from kanamugire:
no ;;;;;;
quantity Unitary price
skol 100 11 000
primus 80 8 500
soda 70 7500
mitzig 100 12 000
10/1/2019 Rwigire ordered the following items from
Mapendano
no quantity Unitary price
skol 50 15 000
primus 40 12 000
mitzig 20 16 000
Knowing that goods were delivered the same day, you are
required to proces these orders.
 PRACTICE 14
11/1/2019 MAPENDANO order the following items and gave a
cheque to SINA.
10 cartons of AGASHYA @ 40 000 rwf each
Akandi 100 cartons @ 3 000 rw feach
Akarusho 200 cartons @ 7 000 rwf each
11/1 sold 5 cartons OF AGASHYA to MBERA @ 50 000
Akarusho 100 cartons @ 10 000 rwf each and MBERA gave a
check.
12/1 paid MTN for airtime 300 000 rwf using a check.
13/1/2019 sold 10 cartons of AGASHYA @ 60 000 on credit to
DORCAS.
You are required to record these transactions.
 PRACTICE 15
ON 11/1/2019, after receiving a payment from
Rwigire, MAPENDANO paid kanamugire.
Payments from Rwigire and to Kanamugire were done
via Bank.
On 11/1/ when received a bank statement , it showed
a balance of 500 000.
If it doesn’t match with the balance as per
MAPENDANO books, you are required to perform
bank reconciliation by formulating your own
assumptions on causes of the difference.
 PRACTICE 16
ON 31/5/2019 BUKO ltd started business activities
with 20 000 000 rwf deposited at Bank
31/5/2019 paid a vendor 10 000 rwf for repair and
maintenance
Paid 200 000 rwf interest expenses
Paid postage and delivery 60 000 rwf
A customer deposited 1 000 000 rwf for consulting
income
A customer deposited 500 000 as accounting services
income
Perform bank reconciliation using a bank statement
bank statement.xlsx