Computerised Financial Systems N4 — Document
November 2018 — N4 — Computerised Financial Systems
N4
2018
Nated Business
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4.4Select SETUP. Select COMPANY PARAMETERS. Enter your examination number and workstation number. Click on OK. 5. 6. 7. 8. 9.
Q1— Section header —
1.1ENTRY TYPES (already setup\ No.: Entry Type CB 1 Payments (Cash Payments Journal\ CB 1 Receipts (Cash Receipts Journal\ CB 2 Payments (Petty Cash Payments Journal\
1.2GENERAL LEDGER ACCOUNTS (already setup\ Account Number Sales 1000/000 Purchases 2000/000 Opening Stock 2010/000
1.3SUPPLIERS SCHEDULE Code Supplier A001 Arra D002 Dukar F003 Florence
1.4CUSTOMERS SCHEDULE (already setup\ Code Customers Balance 28 February 2017 C001 C Domesle R2 567
1.5STOCK (Stock items already been setup\ 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 notes, and all sales by means of the
3.1You are required to do the Bank Reconciliation for March 2017. Do not update the Cash Receipts and Cash Payments batches until after you have completed the Bank Reconciliation.
3.2Use the REFERENCE RECONCILIATION METHOD for Bank Reconciliation purposes.
3.3When processing computerised source documents, select the option to display TAX PERCENTAGES in the line entries on these documents.
3.4Once you have completed the input of computerised source documents and journal batches, you must print and update it.
3.5Refer to the attached addendum concerning the admissible deductions with regards to INPUT TAX.
3.6If there is no ledger account to enter a specific transaction, such an account must be created. Apply the account structure as it is set out. 4. TAKE ON BALANCES Use the information given in
1.5to process the opening balances on 28 February 2017 in the relevant journal. Make a PRINTOUT of the journal on 28 February 2017 and update to the general ledger. 6030154
7.5% Discount 784 22 672 08 14% VAT 354 10
2.5discount within 0 days % invoice discount
2.5% additional discount only for Giant Statement Wine 6030154 10 N240 (E\
51.23654.32 125 000.00 500.00
98.76210.12 12 345.67
98.76100 000.00 99 948.77 99 294.45 25 705.55
12.1Record the bank charges and interest on the current account.
12.2Capitec on 1 March 2017 is for an investment @ 12.5% pa that has been paid out. Create a new account 7500/000.
12.3Rawsonville Motors is for a new deliver vehicle.
12.4Montagu Municipality is for the water and electricity for March.
12.5SAL01 is for the salary of R Dornbrack.
12.6INT is for the interest on the current account. 6030154 16 N240
14.1Customers Journal with age analysis (March 2017\ Print zero items. Print description. (3\
14.2Inventory Journal (February 2017\ (4\
14.3Computerised source documents (March 2017\ Supplier invoices Debit notes Tax invoices Credit notes (21\ (13\ (32\
14.4Batch listings with generated entries (March 2017\ Supplier Journal Supplier Allowance Journal Cash Payments Journal (after Bank Reconciliation\ Cash Receipts Journal (after Bank Reconciliation\ (12\ (9\
14.5Bank Reconciliation Statement as at 31 March 2017 (4\
14.6Cash Book details of Petty Cash for March 2017 (6\
14.7Cash Receipts Journal (adjustment\ (3\
14.8Inventory Journal (adjustment\ (2\
14.9General Journal (adjustment\ (7\
14.10Inventory Valuation on 31 March 2017 using the last unit cost (do not print zero items\ (2\
14.11Stock Journal (adjustment\ (3\
14.12Customer detailed ledger by Entry Type of C Domesle only (2\
14.13Supplier listing of Delaire only. Show details. No user defined fields. (4\
14.14Detailed ledger of the VAT Control account for March 2017 (2\
14.15Trial Balance (March 2017\(Income Statement accounts first\(Do not print zero items\ (Include opening balances\ (4\ [180] TOTAL SECTION A: 180 6030154180
Q1— Section header —
1.1What does the abbreviation VAT stand for? (1\
1.2Define the term input tax (2\
1.3Is maize meal a zero rated or exempt supply? (1\
1.4Define the term invoice basis (2\ QUESTION Complete the following table by calculati
2.14(14\ BASKET GIFTS Cost Price Profit Selling Price VAT Excl.
2.3Wholesaler
2.6R28.00
2.8Retailer
2.9R30.00
2.13Total received for Receiver of Revenue
2.14[20] TOTAL SECTION B: GRAND TOTAL 20 200 603015420
Topics Identified
1
Forms of Ownership
Mark Allocation
Sections180 + 20 = 200 marks
Key Information
Contact Number044
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241
2322
Paper information
TitleDocument
SubjectComputerised Financial Systems
LevelN4
Document typeQuestion paper
Year2018
MonthNovember
Pages19
Downloads6
Examination context
Decade2010s
Years ago8y
SeasonSpring (SH)
Start dayThursday
Exam periodNovember 2018
Days since exam2,900
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