Intro to Accounting

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DIPLOMA IN FINANCIAL ACCOUNTING
INTRODUCTION TO FINANCIAL ACCOUNTING 1A
SUPPLEMENTARY EXAMINATION
November 2010
THIS PAPER CONSISTS OF 5 PAGES|

DURATION:2 hrs
TOTAL MARKS:150
PASS MARK:50%
INSTRUCTIONS TO CANDIDATES:
1. Read the following instructions CAREFULLY before answering the paper, as failure to act upon them will result in a loss of marks. 2. Please be neat – illegible handwriting cannot be marked. 3. The assessment must be written in either black or blue ink. 4. Ensure that your name, student number and the name of the Campus are clearly indicated on each page of your answer book. 5. Attempt the questions where you feel you can obtain the most marks first. 6. Any learner caught being dishonest will have his/her paper confiscated and will be referred to the Academic Head of the site. Disciplinary measures will be taken which may result in expulsion from Damelin. 7. PREPARATIONS AND REQUIREMENTS:

8. Learner Requirements:Stationery, Examination Book
9. Equipment Requirements:Calculator

Question| Subject| Marks| Time|
1| Source Documents | 28| 10 Minute|
2| Accounting Equation| 20| 18 Minutes|
3| Journals| 40| 34 Minutes|
4| General Journal/Trial Balance/SCI| 42| 40 Minutes| 5| Asset Disposal/Realisation| 20| 18 Minutes|

Question 1SOURCE DOCUMENTS(28 Marks)
Complete the table below by indicating the source documents (given by us) and subsidiary journals applicable to the transactions given below: Indicate as either original or duplicate document. Transaction| Source Document| Subsidiary Journal|

Cash received by us (e.g.)| Duplicate receipt| Cash Receipt Journal (CRJ)| 1. Electronic payments| | |
2. Sale of assets| | |
3. Credit Purchases| | |
4. Petty Cash Transaction| | |
5. Bank deposits| | |
6. Goods returned by us...
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