Where is the total of discounts allowed column in the cash book posted?

Goods given on consignment cost TZS 3,60,500; closing inventory of goods sent on consignment for the year is TZS 1,13,500. Profit or loss for the year is TZS 1,85,500. What is the profit or loss for the year?

How would you record the expenses for goods sent to a consignee if the consignor pays all the expenses?

For each of the items (i) -(v), match the descriptions of the terms used in bank reconciliation in List A with their corresponding names in List B by writing the letter of the correct response beside the item number in the answer booklet provided. List A (i) Cheque drawn and entered in the cash book but not presented at the bank for the payment. (ii) Cheque received and entered in the cash book but not recorded by the bank. (iii) Cheque refused to be paid by the bank. (iv) Instructions given by account holder to his/her bank to make specific payment within specified period of time. (v) Amount deposited in the bank account by a customer but not entered in the cash book up to the date of bank statement.

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Analyze each of the following transactions by identifying the accounts affected by each of them.

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Briefly explain the following terms:

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The following Trial Balance has been extracted from the books of Vipuli Manufacturing Ltd for the year ending 31st December 2017: Vipuli Manufacturing Ltd's Trial Balance as at 31 December 2017 Notes at 31 December 2017: (a) Stock of partly finished goods TZS 15,000, stock of finished goods TZS 40,000 and stock of raw materials TZS 24,000. (b) Depreciation of productive machinery and administration computers is 10 percent per annum on cost. (c) Goods are transferred to the warehouse at production cost plus 10 percent manufacturing profit. Use the information provided to prepare the Statement of Manufacturing Cost and the Income Statement of Vipuli Manufacturing Ltd for the year ending 31 December 2017.

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The following business information was extracted from the books of D& DSh op for the month of December 2018. Use the infomation provided to prepare the Sales and Purchases Ledger Control Accounts for the Month of December 2018. **1 December 2018:** Sales ledger - debit balance: 26,000 Purchases ledger - credit balance: 280,600 **Transaction for the month:** Credits sales: 84,200 Credit purchases: 260,200 Cash received: 25,500 Payment to creditors: 317,500 Discount allowed: 1,400 Returns to creditors: 14,000 Sales returns: 400 Bad debts: 500 Interest charged by creditors: 500 Carriage charged to creditors: 400 **31 December 2018:** Purchases ledger - debit balance: 2,700

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The following information for rent and rates was extracted from the books of Mohammed Estates Ltd for the year ending 30th April 2019. During the year to 30th April 2019 the following amounts were paid: The amount of TZS 200,000 paid for rent by cash includes TZS 15,000 which relates to Insurance. Use the information provided to prepare a combined Rent and Rates Account for the year ending 30th April 2019.

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Mrs. Anmanda is a sole proprietor owning a single shop. In the absence of her accounting technician, she prepared the following Trial Balance at 31 January 2018 which did not agree: Mrs. Amanda's Trial Balance as at 31 January 2018 | Name of Account | Dr | Cr | |--------------------------------|-------------|-------------| | Capital 1N February 2017 | | 784,500 | | Drawings | 1950,000 | | | Inventory 1 February 2017 | 841,000 | | | Trade accounts receivable | 3,451,700 | | | Furniture and fittings | 240,000 | | | Cash in hand | 83,600 | | | Trade accounts payable | 689,000 | | | Sales | | 12,760,000 | | Returns inwards | 243,800 | | | Discount received | 141,900 | | | Business expenses | 320,400 | | | Purchases | 7,210,000 | | | Total | 10,730,400 | 17,985,500 | In addition to the mistakes in the Trial Balance, the following errors were also discovered: (a) A payment of TZS 31,500 made to a creditor had not been posted from the cash book into the purchases ledger. (b) A cheque for TZS 18,800 received from a customer had been correctly entered in the cash book but posted to the customer's account as TZS 18,000. (c) A purchase of fittings TZS 40,700 had been included in the purchases account. (d) The total of discounts allowed column in the cash book of TZS 4,200 had not been posted into the general ledger. Using the information provided, prepare the Furniture and Fittings, Trade Accounts Payable, Trade Accounts Receivable, Discounts Allowed, Purchases Accounts to correct the errors and Mrs. Amanda's corrected Trial Balance at 31 January 2018.

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