Question Paper: LEVEL 2 Certificate in Computerised Book-Keeping

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QUESTION PAPER   LEVEL 2 Certificate in Computerised Book-keeping

JUNE 2007 Qualificati on Accr editation Number 100/5 100/531 314/ 4/1 1

Unit Accreditation Number Y/103/2527

Candidates Instructions:

  Time allowed: 10 minutes readin reading g time plus 2 h hours ours



  Candidates should answer all Tasks.



   All written answers should be in pen or w word ord processed.



Burford House, 44 London Road, Sevenoaks, Kent TN13 1AS Tel: 01732 458080 Fax: 01732 455848 email: [email protected]  [email protected]   Level 2 Cert.CB Cert.CB

June 2007 v3

 

Level 2 Certificate in Computerised Book-keeping JUNE 2007 Time allowed: 10 minutes reading time plus 2 hours. Scenario Bullen’s Beers,  A new business, busines s, registered being set Accounting) up by Jerry Bullen. business will be for VATis(Standard and willThe be trading on both a credit and cash basis.

Sales will be divided into 2 categories – sales of drinks and sales of foodstuffs. The latter is VAT zero rated. Purchases will be divided into 2 categories – purchases of drinks and purchases of foodstuffs. The latter is VAT zero rated. Required 1. 

 You are to assume assume the role of Accounts Cler Clerk k and carry out out the instructions in the order that they are given using a commercial  Accounting software software package. Jerry is relying on you to input the data accurately.  You should ensure that every transaction has a unique reference. 

2. 

Print the following at the end of the month: a.  Trial Balance b.  Summary Audit Trail c.   Address Lists Lists for customer and suppliers d.  Detailed Aged Debtors and Creditors Analyses e.  Nominal activity reports for each category of sales and purchases f.  Nominal activity report of the bank and petty cash transactions g.  Reconciled and unreconciled bank transactions

3. 

a) Jerry is concerned that the data for his business can be accessed by anyone in the office. Explain 3 ways which would ensure the security of data on the system. (6 Marks)  Marks)  b) He has heard comments about health and safety in the office, particularly as regards IT equipment. Describe two measures he should be aware of as regards this issue. (4 Marks)  Marks) 

The business was started on 1 st January 2007. Set this as your Financial Year Start Date.

Level 2 Cert.CB Cert.CB

Page 1

June 2007v1

 

The name and address of Bullen’s Beers is as follows: Bullen’s Beers The Tithe Barn 58 Whitecroft Barnsley SF14 6PT Enter this information onto your Accounting program and, after the name Bullen’s Beers, add your Examination Entry number.

Set up the following Nominal Accounts, using an account reference relevant to the package you are using: Nominal Code Name Capital Drawings Sales – Drinks Sales – Foodstuffs Purchases – Drinks Purchases – Foodstuffs

Set up the following Supplier Accounts, using an appropriate account reference:  Allan Wholesale Wholesale 26 Epsom Road Clifton  YO31 8CT

Rollitts Ltd. The Malt House New Beech Road Rossendale BB5 9SN

Larkham & Son 126 Sheffield Road Rotherham SF12 4VN

Set up the following Customer Accounts, using an appropriate account reference: Wragg Wines Sandringham Court Tamworth B86 5RJ

Jones & Evans Unit 6 Seaview Estate Rhyl LL44 7TY

Stockton Bros Harpers Lane Bolton BL2 7FR

Hatton Wholesale 35 Falstone Drive Christchurch BH21 3HR Level 2 Cert.CB Cert.CB

Page 2

June 2007v1

 

Jerry put in place the finance for the new business. Date 1 Jan Jan

Details  Jerry paid £10,000 of his own money into the Business Bank current account

1 Jan

Received Bank Loan of £15,000 paid into the current account.  Arranged loan repayment repayment to be paid on 24th of each month b by y Standing Order. Order. This amounts to £400 per mont month, h, £320 being capital repayment repayment and £80 being loan interes interest. t. Set this up a and nd post the payment at the appropriate time.

 A book was set up (extract b below) elow) in which a list of all ccheques heques paid out would be recorded. From this Chequ Cheque e Log, enter these details details onto the system:

Cheque Log Date

Payee

3 Jan

Cheque no. 20001

3 Jan

20002

6 Jan

20003

Sheffield Council Martin’s Garage

11 Jan

20004

Level 2 Cert.CB Cert.CB

Cash

Raymond’s Racking

Details Petty Cash Rates Purchase of delivery van Racking

Page 3

Net £ 150.00

 VAT £

Gross £

2,500.00

Exempt

2,500.00

3,000.00

525.00

3,525.00

2,000.00

350.00

2,350.00

June 2007v1

√  

 

During the month, the following Invoices were sent out to customers. Enter these transactions:

Bullen’s Beers The Tithe Barn 58 Whitecroft Barnsley SF14 6PT  6PT  Telephone: 01290 587429 Invoice To: Jones & Evans Unit 6 Seaview Estate Rhyl LL44 7TY   140 Kegs of Beer

Invoice No. Invoice Date

VAT Rate 17.5%

        Terms: 2.5% discount if paid within 21 days  VAT Reg. No. No. 389 4261 65

 VAT

Invoice Total

BB 001 01.01.2007

Net 7,700.00

7,700.00 1,313.81 9,013.81

Bullen’s Beers The Tithe Barn 58 Whitecroft Barnsley SF14 6PT  6PT  Telephone: 01290 587429 Invoice To: Hatton Wholesale 35 Falstone Drive Christchurch BH21 3HR   40 Cases Italian wines (assorted) 10 dozen cut sandwiches         Terms: Nett monthly account  VAT Reg. No. No. 389 4261 65 Level 2 Cert.CB Cert.CB

Invoice No. Invoice Date

VAT Rate 17.5% Zero  VAT

Invoice Total

Page 4

BB 002 03.01.2007

Net 2,400.00 520.00 2,920.00 420.00 3,340.00

June 2007v1

 

Bullen’s Beers The Tithe Barn 58 Whitecroft Barnsley SF14 6PT  6PT  Telephone: 01290 587429 Invoice To: Wragg Wines Sandringham Court Tamworth B86 5RJ

Invoice No. Invoice Date

  15 kegs best bitter

VAT Rate 17.5%

        Terms: Nett monthly account  VAT Reg. No. No. 389 4261 65

 VAT 

Invoice Total

BB 003 09.01.2007

Net 1,485.00 1,485.00 259.87 1,744.87

Bullen’s Beers The Tithe Barn 58 Whitecroft Barnsley SF14 6PT  6PT  Telephone: 01290 587429 Invoice To: Stockton Bros Harpers lane Bolton BL2 7FR   20 cases mixers 18 boxes biscuits

Invoice No. Invoice Date

VAT Rate 17.5% Zero

        Terms: Nett monthly account  VAT Reg. No. No. 389 4261 65

Level 2 Cert.CB Cert.CB

BB 004 10.01.2007

 VAT

Invoice Total

Page 5

Net 900.00 125.00 1,025.00 157.50 1,182.50

June 2007v1

 

Bullen’s Beers The Tithe Barn 58 Whitecroft Barnsley SF14 6PT  6PT  Telephone: 01290 587429 Invoice To: Jones & Evans Unit 6 Seaview Estate Rhyl LL44 7TY   25 kegs lager 4 dozen packs sandwiches    

Invoice No. Invoice Date

BB 005 15.01.2007

VAT Rate

Net

17.5% Zero

2,750.00 208.00 2,958.00 469.22

 VAT

    Terms: 2.5% cash discount for payment within 21 days VAT Reg. No. 389 4261 65

Invoice Total

3,427.22

Bullen’s Beers The Tithe Barn 58 Whitecroft Barnsley SF14 6PT  6PT  Telephone: 01290 587429 Invoice To: Stockton Bros Harpers lane Bolton BL2 7FR   10 cases assorted wines

Invoice No. Invoice Date

VAT Rate 17.5%

        Terms: Nett monthly account  VAT Reg. No. No. 389 4261 65 Level 2 Cert.CB Cert.CB

BB 006 18.01.2007

 VAT

Invoice Total

Page 6

June 2007v1

Net 240.00 240.00 42.00 282.00

 

During the month, month, the follo following wing Credit No Note te was sent ou out. t. Enter this transaction:

Bullen’s Beers The Tithe Barn 58 Whitecroft Barnsley SF14 6PT  6PT  Telephone: 01290 587429 Credit Note: Hatton Wholesale 35 Falstone Drive Christchurch BH21 3HR   1 dozen packs sandwiches

Credit Note No. BBC 001 Credit Note Date 05.01.2007

VAT Rate Zero

     

 VAT

Invoice Total

  Terms: Nett monthly account  VAT Reg. No. No. 389 4261 65

Level 2 Cert.CB Cert.CB

Page 7

June 2007v1

Net 52.00 52.00 0.00 52.00

 

During the month, the the following invoices were re received ceived from Suppl Suppliers. iers. Enter these transactions:

Rollitts Ltd. The Malt House New Beech Road Rossendale BB5 9SN Invoice To: Bullen’s Beers The Tithe Barn 58 Whitecroft Barnsley SF14 6PT   300 kegs beer

Invoice No. Invoice Date

VAT Rate 17.5%

   VAT     Invoice Total   Terms: Cash discount of 2% for payment within 14 days  VAT Reg. No. No. 319 4322 77

RI 9667 02.01.2007

Net 9,580.00

9,580.00 1,642.97 11,222.97

 Allan Wholesale 26 Epsom Road Clifton  YO31 8CT Invoice To:

Invoice No.

Bullen’s Beers The Tithe Barn 58 Whitecroft Barnsley SF14 6PT

Invoice Date

4.01.2007

 VAT Rate Zero

14 dozen assorted cut sandwiches

        Terms: 30 days nett  VAT Reg. No. No. 348 5594 44 Level 2 Cert.CB Cert.CB

 AW 883

 VAT

Invoice Total

Page 8

June 2007v1

Net 420.00

420.00 0.00 420.00

 

Larkham & Son 126 Sheffield Road Rotherham SF12 4VN  Invoice To: Bullen’s Beers

Invoice No. Invoice Date

L 2826 8.01.2007

The Tithe Barn 58 Whitecroft Barnsley SF14 6PT  VAT Rate 17.5% Zero

100 kegs lager 20 cases biscuits         Terms: Nett monthly account  VAT Reg. No. No. 572 9966 21

 VAT

Invoice Total

Net 5,500.00 315.00 5,815.00 962.50 6,777.50

Rollitts Ltd. The Malt House New Beech Road Rossendale BB5 9SN Invoice To: Bullen’s Beers

Invoice No. Invoice Date

The Tithe Barn 58 Whitecroft Barnsley SF14 6PT   50 kegs beer

VAT Rate 17.5%

        Terms: 30 days nett  VAT Reg. No. No. 319 4322 77

Level 2 Cert.CB Cert.CB

 VAT

Invoice Total

Page 9

9702 18.01.2007

Net 2,750.00 2,750.00 481.25 3,231.25

June 2007v1

 

During the month the following credit note was received:

 Allan Wholesale 26 Epsom Road Clifton  YO31 8CT Credit To: Bullen’s Beers The Tithe Barn 58 Whitecroft Barnsley SF14 6PT   2 dozen packs of sandwiches

Credit Note Credit Note Date

VAT Rate Zero

        Terms: To be deducted from payment of next invoice.  VAT Reg. No. No. 348 5594 44

Level 2 Cert.CB Cert.CB

Page 10

 AHC 99 18.01.2007

Net 60.00 60.00 0.00 60.00

 VAT

Total

June 2007v1

 

During the month, Petty Cash has been spent and the Vouchers below written out. Enter this expenditure.

Petty Cash Voucher No. PCV 1 Date 1.1.2007

 VAT Rate:

Expense Details 

 Amount including VAT (where applicable)

Diesel for delivery van

17.5%

£25.00

Signed ………………..

Total

£25.00

Petty Cash Voucher No. PCV 2 Date 5.1.2007

 VAT Rate:

Expense Details 

 Amount including VAT (where applicable) 

Carriage on deliveries from suppliers. (This is to be treated as part of the cost of purchases, but must be shown separately)

17.5%

£15.00

Signed ………………..

Total

£15.00

Petty Cash Voucher No. PCV 3 Date 9.1.2007

 VAT Rate: Exempt

Expense Details 

 Amount including VAT (where applicable) 

Postages

£10.00

Signed ………………..

Level 2 Cert.CB Cert.CB

Total

Page 11

£10.00

June 2007v1

 

Petty Cash Voucher No. PCV 4 Date 12.1.2007

 VAT

Expense Details 

 Amount including VAT (where applicable) 

17.5%

Carriage on deliveries to customers

£12.00

Signed ………………..

Total

£12.00

Petty Cash Voucher No. PCV 5 Date 18.1.2007 Expense Details 

 VAT Rate

Zero

 Amount including VAT (where applicable) 

Minor repairs to van

£15.00

Signed ………………..

Total

£15.00

Petty Cash Voucher No. PCV 6 Date 20.1.2007

 VAT Rate

Expense Details 

 Amount including VAT (where applicable) 

Tea, coffee, etc

£9.00

Signed ………………..

Level 2 Cert.CB Cert.CB

Zero

Total

Page 12

£9.00

June 2007v1

 

During the month, the following moneys have been received from Customers: Cheque amount £ 20 Jan Cheque (no. 863) received from Jones and Evans in full 8,821.31 settlement of our invoice BB 001, having taken the discount offered. 25 Jan 29 Jan

Cheque (no 386) received from Hatton Wholesale in full settlement of our invoice BB 002 Cheque (no. 108) received from Stockton Bros. This was a part payment of our invoice BB 004.

3,340.00 1,000.00

  In addition, on 17 January, a local trader bought some beer for a party for cash. The amount received was £380.00 (including VAT) and was paid directly into the bank.

 You have already already entered some ccheques heques (ticke (ticked) d) from the C Cheque heque Log – enter the remaining cheque payments.

Cheque Log Date 3 Jan

Cheque Payee no. 20001 Cash

3 Jan

20002

6 Jan

20003

11 Jan

20004

15 Jan

20005

29 Jan

20006

31 Jan 31 Jan

20007 20008

Level 2 Cert.CB Cert.CB

Sheffield Council Martin’s Garage

Raymond’s Racking Rollits Ltd.

Larkham & Son Cash Cash

Details Petty Cash Rates

Net £ 150.00

 VAT £

Gross £

√   √  

2 2,,500.00

Exempt

2,500.00

√  

Purchase of delivery van

3,000.00

525.00

3,525.00

√  

Racking

2 2,,000.00

350.00

2,350.00

√  

Settlement of invoice RI 9667, taking account of the discount offered Payment on account.

11,031.37

Jerry’s drawings Reimburse Petty Cash box with amount spent and increase float by £50.00.

Page 13

5,000.00 850.00 136.00

June 2007v1

 

The wages for January January have been calculated. Enter these tra transactions. nsactions.

  31 January - Net Wages paid from the Bank Current Account by BACS £386.90



  The Income Tax and National Insurance have been calculated as follows:



Income Tax deducted Employee’s NIC deducted Employer’s NIC

£76.09 £83.65 £95.42

These will not be sent off to HM Revenue & Customs until 15th  February; therefore, enter these figures into the system by Journal Entries.

29th January Jerry took some sandwiches own use. These had a selling price of £10.00 (Zero rated for VAT). Make the journal entry to reflect this.

Level 2 Cert.CB Cert.CB

Page 14

June 2007v1

 

The Bank Statement below has been received; reconcile it to your computer records.

J

H B

NK PLC

Account Number: 6598362

Bullen’s Beers The Tithe Barn 58 Whitecroft Barnsley SF14 6PT

Date

Particulars

1 Jan   4 Jan 8 Jan 8 Jan 12 Jan 15 Jan 17 Jan 22 Jan 24 Jan 27 Jan 31 Jan

Counter Credit Trf – Business Loan 20001 20003 20002 20004 20005 Counter Credit Counter Credit Business Loan Account DD Counter Credit BACS

STATEMENT OF ACCOUNT Sheet No. 1  Sort Code: 27-55-39  Telephone: 021 199358  Facsimile: 021 199359 

Payments

  Receipts

10,000.00 15,000.00 150.00 3,525.00 2,500.00 2,350.00 11,031.37 380.00 8,821.31 400.00 3,340.00 386.90

Balance

10,000.00 25,000.00 24,850.00 21,325.00 18,825.00 16,475.00 5,443.63 5,823.63 14,644.94 14,244.94 17,584.94 17,198.04

 

When you have finished, return to page 1. Print out as instructed and write your answer to question 3.

Level 2 Cert.CB Cert.CB

Page 15

June 2007v1

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