it gives concept on financiall stament

1. Lecturer:Etienne NZABIRINDA(Msc,~CPA,Bed)
Telephone: +250786933786 E-mail: etienne.nzabirinda@gmail.com
https://www.linkedin.com/in/nzabirinda-etienne-963176125/
INTENSIVE ACCOUNTING COURSE
SECTION A: FINACIAL ACCOUNTING THEORY QUESTIONS(30Marks)
Q1. What is your objective of studying financial statement at your work place?
Q2. How accounting skills set is different from economics skills set.
Q3. At your work place, you will need to report financial statement to different
users, what do you think, they will be.
Q4. Conceptualize in details the components of financial information and why are
relevant for you. Short essay
Q5. Accept or not, you will need accounting of original entry book at your
workplace.
• Source documents e.g. quotations, purchase orders, receipts, cash vouchers
etc.
• Books of original entries e.g. sales journals, purchases journals, return
inwards journals, return outwards journal, cash book, petty cash book and general
journal
Required: How for every book are you ready to use it
Q6. Discuss principles of accounting by General accepted accounting
principles(GAAP) and Discuss again others accounting principles.

2. SECTIONB:PRATICAL FINACIAL ACCOUNTING QUESTIONS/70Marks
Q.1 Which of the following is correct or incorrect? And why
• Assets - Capital = Liabilities
• Liabilities + Capital = Assets
• Liabilities + Assets = Capital
• Assets - Liabilities = Capital
Q.2 Which of the following is right or wrong? And why
Assets Liabilities Capital
FRW FRW FRW
(a) 7,850 1,250 6,600
(b) 8,200 2,800 5,400
(c) 9,550 1,150 8,200
(d) 6,540 1,120 5,420
Q.3 You are to complete the gaps on the following table?
Assets Liabilities Capital
FRW FRW FRW
(a) 55,000 16,900 ?
(b) ? 17,200 34,400
(c) 36,100 ? 28,500
(d) 119,500 15,400 ?
e) 88,000 ? 62,000
f) ? 49,000 110,000
Q4. Capital of FRW10,0000,000 was introduced into business of shopping Mall at
Gishushu and lodged to the Bank Account. Required to prepare ledger account

3. Q5. The following list of balances has been extracted from the ledger of
AMEQUICO Ltd as at 31December 20X2
FRW
Sales 32,279
Bank Interest paid 1,978
Rent and Rates 3,271
Postage and Stationery 242
Advertising 785
Salaries and Wages 8,437
Repairs and Renewals 125
Cost of Sales 16,346
Required:
Prepare the Statement of Comprehensive Income for the year ended 31December,
20X2
Hint AMEQUICO Limited
Statement of Comprehensive Income for the Year Ended 31stDecember 20X2
Sales
FRW FRW
?
Cost of Sales
(?)
Gross Profit ?
Expenses:
Rent and Rates
?
Bank Interest ?
Postage and Stationery ?
Advertising ?
Salaries ?
Repairs ?
?
Net Profit ?

4. Q6.The following are details of the assets, liabilities at 31st December 20X0 and
revenue and expenses for the year ended 31st December 20X0 of EUGENIE
INVESTMENT Limited which commenced business on 1st January 20X0. The
figures are presented in the form of a list of balances: -
FRW
Share Capital 3,500
Non-current Assets 8,800
Inventory 400
Sales 30,000
Trade Receivables 800
Cost of Sales 20,000
Trade Payables 500
Administration Expenses 3,000
Selling and Distribution Expenses 4,000
Loan Capital 3,000
Required to prepare:
• Statement of Comprehensive Income for year ended 31st December,
20X0
• The Statement of Financial Position as at 31st December, 20X0

5. Hint EUGENIE INVESTMENT LIMITED
Statement of Comprehensive Income for the year ended 31st
December 20X0
FRW
FRW
Sales ?
Less: Cost of Sales ?
Gross Profit ?
Less: Administration Expenses (?)
Selling and Distribution Expenses (?) (?)
Net Profit ?
EUGENIE INVESTMENT Limited
Statement of Financial Position as at 31th December20X0
FRW FRW
Employment of Capital Non-current ?
Assets Current Assets
Inventory ?
Trade Receivables ? ?
?
Capital Employment
Share Capital ?
Reserves (Revenue) ?
Shareholders’ Funds ?
Non-current Liabilities ?
Current Liabilities ?
?
Nice work