Computerised Financial Systems N4 — Document
June 2018 — N4 — Computerised Financial Systems
N4
2018
Nated Business
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Q1— Section header —
1.1When supply (including VAT\exceeds R5 000 00 a full tax invoice must be issued. Name the SEVEN criteria that a tax invoice must meet. (7\
1.2A dealer who is reg istered for VAT receives the following credit invoice: Equipment for the business R15 000,00 VAT (15%\ 250,00 Amount due
1.2.1of the sale?
1.2.2Which amount, if a ny, will be credited to the VAT control account?
1.2.3
1.3Indicate whether the following statements are TRUE or FALSE. Choose the answer and write only True or False next to t he question number (1.3.1
1.3.5\orrect the statement if it is FALSE.
1.3.1A dealer who is not registered for VAT, do not have to pay VAT on purchases.
1.3.2Input VAT is charged by an organisation when providing goods/services to it s customers.
1.3.3VAT payment to the Receiver of Revenue can only be done by eFiling.
1.3.4Standard rate VAT will be used for all general ledger purchase
1.3.5From 1 April 2018 the VAT is 14%. (5 2\ (10\ [20] TOTAL SECTION A:20
Q2— Section header —
2.1ENTRY TYPES ( have already been set up\ No Entry
2.2GENERAL LEDGER ACCOUNTS ( have already been set up\ ACCOUNT NUMBER Sales
2.3SUPPLIER SCHEDULE ( have already been set up\ Code upplier
2.4CUSTOMER SCHEDULE ( have already been set up\ Process the opening balances of the customers according to the age analysis on 30
2.5STOCK AS ON 30 JUNE 2017 (Stock items have already been set up\ The stock system of the business is dealt with on a continuous basis with the computer program. All stock purchases are made by means of purchase
59.90SERV Delivery cost Each
4.25S002 Detox tea pack Pack
54.00M002 Kids uggets & hips Meal
38.80M003 Mince urry 500g
66.80S003 Snack trail mix 50g
19.85S004 Swiss uesli 100g
24.906030154 N240 (E\ (J8\
4.1You are required to do the bank reconciliation for July 2017. Do NOT update the Cash Receipts and Cash Payments batches until after you have completed the bank reconciliation
4.2Use the REFERENC E RECONCILIATION METHOD for bank reconciliation purposes.
4.3When processing computerised source documents, select the option to display TAX PERCENTAGES in the line entries on these documents.
4.4Once you have completed the input of computerised source documents and journal batches, print and update it.
4.5Refer to the attached annexure concerning the admissible deductions with regards to INPUT TAX.
4.6If there is no ledger account to enter a specific transaction, create such an account. Apply the account structure as it is set out. 5. TAKE ON BALANCES
2.4and 2.5 above to process the opening balances of the customers' accounts and stock on hand on 30 June 2017 according to the age analysis in the relevant jou rnals. Print and update the batch. 6030154
7.5% within 60 days 5 Snack trail mix 7 Kids nuggets & chips 3 Mince urry KJ
13.1Record the bank charges.
13.2The direct deposit is from Mikayla Oosthuizen for additional capital.
13.3The int acc transfer was for office chairs purchased from Vrede Offices.
13.4Debit order is in favour of Durbanville Municipality for the July rates and taxes.
13.5INT is for interest on the current account. 6030154 17 N240 (E\
15.1Customers Journal (June 2017\ (6\
15.2Inventory Journal (June 2017\ (5\
15.3Computerised source documents (July 2017\ Supplier invoices Debit notes Tax invoices Credit n otes (25\ (8\ (27\
15.4Batch listings with generated entries (July 2017\ Supplier Journal Supplier Allowance Journal General Journal (adjustments\ Inventory Journal (adjustment\ Stock Journal Cash Receipts Journal (after Bank Reconciliation
15.5Bank Reconciliation Statement as at 31 July 2017 (4\
15.6Cashbook details of Petty Cash Payments Journal for July 2017 (Do NOT include opening balanc e\ (7\
15.7Entry type details: Bad Debts Journal July 2017 (4\ 6030154 19
15.8Customer detailed ledger by Entry Type of L Mdanjelwa July 2017 (5\
15.9Supplier listing of Maine (show details\ (no user defined fields\ (6\
15.10Supplier age analysis July 2017 (Print description, no details, print zero balances\ (4\
15.11Trial alance (July 2017\(Income tatement accounts first\(Do NOT print zero items\ (Do NOT
Topics Identified
2
Forms of OwnershipBusiness Plan
Mark Allocation
Total613 marks
Sections20 = 20 marks
Key Information
Contact Number021
750
1234 · 021
753 4567
Email AddressAshley.Dosi@maine.com
Paper information
TitleDocument
SubjectComputerised Financial Systems
LevelN4
Document typeQuestion paper
Year2018
MonthJune
Pages20
Downloads5
Examination context
Decade2010s
Years ago8y
SeasonWinter (SH)
Start dayFriday
Exam periodJune 2018
Days since exam3,054
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