Quality and Qualifications Ireland
Dearbhú Cáilíochta agus Cáilíochta Éireann
Bookkeeping
Manual and Computerised
Computerised Examination 2023
50%
Safety Direct Ltd
Teachers: Aileen Martin
Date: Thursday 27th July 2023
I confirm that the work submitted is entirely my own work and that by uploading to Moodle I am aware that I am accepting the submission statement.
Create a new folder called Bookkeeping Exam and save all files created during the exam to this folder.
Part A: Theory
Answer 5 of the following questions in a Word Document and save it to your exam folder as Part A Theory Questions.
Q1. Explain the term Capital
Q2. List 2 advantages of a computerised accounting system over a manual one.
Q3. Explain what the petty cash Imprest system is Q4. What is Vat and what are the current rates of Vat?
Q5. Explain the terms Debtors and Creditors.
Q6. Identify the source document below and explain its purpose:
Part B: Computerised Accounts
Company Profile
Business Name:
Safety Direct Ltd
Address: Main Street
Granard
Co Longford
N36 A123
Telephone:
04333 12345
VAT Reg Number: IE –5687557B
Note: Add the Initial of your First Name and your full Surname to the company name for identification purposes
• Safety Direct Ltd buys and sells safety clothing and footwear. Transactions are carried out on a credit basis mainly but there are also some cash sales.
• Use a sole trader company setup.
• The Company is registered for VAT, which is charged at 23% on the sale of goods and 13.5% on services.
The Company commenced business on 1st June 2023
INSTRUCTIONS TO CANDIDATES
Safety Direct Ltd employs you as a bookkeeper. The data available to input into the company’s accounts is as follows:
Carry out each task in the order in which they are listed.
1. Create/Setup Nominal Accounts as follows:
NUMBER DESCRIPTION TYPE DR or CR
• 4003 Cash Sales B Income Cr
• 8208 Misc Expenses Expense Dr
Rename the following Nominal Ledger accounts:
• 1101 Debtors (Accounts Receivable)
• 1235 Office Cash
• 2101 Creditors (Accounts Payable)
• 7200 Light & Heat
• 7400 Travel Costs
• 7502 Office Expenses
• 3000 Capital Investment
• 4009 Discount allowed on sales
• 5009 Discount Received from Purchases
Note: Check dates – June 2023
2. Create Customer Accounts (Accounts Receivable) as follows:
CODE NAME and Address Vat No Credit Limit Days Credit
JSC01
J Smith Construction Ltd
Castle Street
Mullingar
Co Westmeath IE4499775C €11,000 30 days
DBC22
Daly Building Contractors
High Street
Clane
Co Kildare IE5986498D €11,000 30 days
MCN01 McCormack’s Nursing Home
Ballyleague, Lanesboro Co Longford IE1236547G €11,000 30 days
Price type: Retail ex VAT for all customers
3. Create Supplier Accounts as follows:
Code Name and Address Vat No Credit Limit Days Credit
MUL01 Medco Uniforms Ltd
Main Street
Bantry
Co Cork 2648516A €8,000 30 days
FSL02 Farrell Safety Ltd
Main Street
Ballycumber
Co Offaly 6799455M €15,000 30 Days
PPM03 Prudence Property Maintenance Ltd
Killsallaghan
Co Dublin 4455667D €1,200 30 Days
4. Enter the following Product details:
Code Product Vat Rate Retail Ex Vat Trade Price
ASB45 Wurth Safety Shoe – Black Size 45 23% 38.90 28.00
CTNL ILFRACOMBE Cargo Trouser Black Size L 23% 36.40 25.00
HVRL Hi-Vis 2 Tone Orange Rugby 23% 22.50 14.00
KGS8 Kora Gore Safety Boots Size 8 23% 252.00 230.00
TGF42 Toe Guard Flash S3 Safety Boots Size 42 23% 59.90 40.00
CH20 Chefs Jacket Long Sleeve White 23% 23.50 17.50
LC01 Standard Ladies Lab Coat 23% 20.00 16.00
NBGM Nylon Black Gloves Size 9 M/L- Men Box 23% 41.50 32.00
T22S Nurses Top Revere Collar Male Kingfisher 23% 22.75 16.00
TO5 Nursing Uniforms Fitted Scrub V Neck 23% 22.52 16.50
5. The company commenced business on 1st June 2023 with capital of €50,000, depositing €48,000 in their current bank account (slip no. S20), €1,600 cash was kept in the till (S21) and €400 in their Petty Cash account (S22). Enter this information in the appropriate accounts.
6. Create Sales Orders and a Credit Note from the details shown below. Invoices:
DATE CUSTOMER REF PRODUCT CODE QUANTITY
05/06/2023 JSC01 01 KGS8
ASB45
TGF42 20
15
12
15/06/2023 DBC22 02 HVRL
CTNL
NBGM 40
40
20
24/06/2023 MCN01 03 T22S
TO5
LC01
CH20 8
12 5
4
Credit Note:
DATE CUSTOMER REF PRODUCT CODE QUANTITY
28/06/2023 MCN01 C01 T22S TO5
LC01 1
2
1
Post each of these documents to the ledgers.
7. Enter the Purchases Invoices and Credit Note in the source document section.
8. Enter the cheques received from customers, the cheque payments made to suppliers and the Petty Cash Vouchers in the appropriate accounts. These are included in the source documents.
9. Cash Book items:
• Cash Sales amounting to €1,200 + VAT were made on 20th June. Paid by Visa Debit.
• Standing Order payment of Rent €5,000.00 on 29th June (Ref: SO1)
• Direct Debit payment of Salaries €34,500 on 29th June. (Ref: DD01)
10. A transfer was made on 30th June to restore the Petty Cash Imprest (float) to €400. Determine the amount of this transfer and enter the transaction into the appropriate accounts.
11. Produce the following reports for June 2023. These reports may be saved as either Excel or PDF files.
1. Trial Balance as at 30th June
2. All Sales Invoices and Credit Note
3. Sales Daybook 4. Purchases Day Book
5. Petty Cash account.
6. Product Price List
7. Vat Return
8. Summary of Customer Activity
12. Backup your Company (data only) to your exam folder. Save the backup file as Safety Direct Backup to your exam folder.
13. Open the file called Theory Questions & Trial Balance Differences. Compare your trial balance with the one below. In the Theory Questions & Trial Balance Differences file, list and provide and analysis of any discrepancies.
14. Correct all errors if appropriate and reprint the Trial Balance.
15. Upload to the folder in Moodle called Bookkeeping Exam July 2023 in the Assessments Section:
i. Your Backup file to Moodle
ii. Your Printouts of reports (in Excel/pdf format)
iii. Answers to your theory questions
QQI Level 5
Bookkeeping
Manual and Computerised
SAFETY DIRECT LTD
Source Documents
Computerised Examination
July 2023
Safety Direct Ltd
Main Street
Granard
Co Longford
N36 A123
Invoice Date: 03/06/2023
Your Order No: —–
Code Description Qty Unit Price VAT Net
Amount
T01 Nurses Uniform Tunic Revere Collar Kingfisher 20 15.00 23% 300.00
GC01 Gents Standard Lab Coat 15 14.00 23% 210.00
SS02 Scrub Suit 20 19.00 23% 380.00
T03 03 Nurses Tunic Sweetheart Neckline 15 24.00 23% 360.00
CH02 Long Sleeve Chefs Jacket White M 8 10.50 23% 84.00
HVO1 Hi-Vis Orange Rugby Shirt Size L
50 18.00 23% 900.00
TR01 ILFRACOMBE Cargo Trouser Black Size L
50 27.50 23% 1,375.00
GB02 Shield Pu Coated Nylon Black Gloves Size 9 M/L-Men Box of 50 50 32.00 23% 1,600.00
VAT Rate Net Amount VAT Amount Net: 5,209.00
23% 5,209.00 1,198.07 VAT: 1,198.07
Total: €6,407.07
Invoice
Farrell Safety Ltd
Main Street
Ballycumber
Co Offaly
Tel: 056 21230
VAT Reg. No.: IE – 6799455M
Invoice to:
Safety Direct Ltd
Athlone Road
Granard
Co Westmeath
Invoice No: 678
Invoice Date: 09/06/2023
Your Order No: —–
Code Description Qty Unit Price VAT Rate Net Amount
KG01 Kora Gore Safety Boots Size 8 25 200.00 1 5,000.00
AS01 Wurth AS S3 Safety Shoe – Black 45 20 25.00 1 500.00
SB01 Toe Guard Flash S3 Safety Boots Size 42 20 50.00 1 1,000.00
AS02 Wurth AS S3 Safety Shoe – Brown 48 20 180.00 1 3,600.00
VAT % Net Amount VAT Amount
Net: 10,100.00
23% 10,100.00 2,323.00 VAT: 2,323.00
Total: 12,423.00
Prudence Property Maintenance Ltd
Killsallaghan
Co Dublin
Tel: 01 8645598
Invoice
750
Date: 21/06/2023 Invoice No:
To: Safety Direct Ltd
Main Street
Granard
Co Westmeath
Description Amount
Building Cleaning and Repairs 540.00
Net 540.00
VAT @ 13 ½ % 72.90
Total €612.90
Credit Note
Medco Uniforms Ltd
Main Street
Bantry
Co Cork
Tel: 026 41861
VAT Reg. No.: IE – 2648516A
To:
Safety Direct Ltd
Main Street
Granard
Co Westmeath
N36 A123
Credit Note No: 51
Credit Note Date: 26/06/2023
Invoice No: 204
Code Description Qty Unit Price VAT % Net Amount
T01 Nurses Uniform Tunic Revere 5 15.00 23% 75.00
GC01 Gents Standard Lab Coat 3 14.00 23% 42.00
T03 03 Nurses Tunic Sweetheart 6 24.00 23% 144.00
VAT Rate Net Amount VAT Amount
Net: 261.00
1 261.00 60.03 VAT: 60.03
Total: €321.03
Received: to settle account in full
91 – 53 – 98
Permanent TSB Bank PLC 23/06/2023
Pay Prudence Property Maintenance Ltd OR ORDER
€612.90
Six hundred and twelve euro & 90 cents
Nicole Flynn
Cheque Number
001
96 ||| 5366 |: 45753428 || 02 Safety Direct Ltd
Petty Cash Voucher
1
Date 06/06/23 Voucher No:
Details
Amount
Box of Tipp-Ex Correction Pens (10 per box) 19.80
VAT @ 23% 4.55
Total: €24.35
Signed: Melanie Baker Authorised: Simone Farrell
Petty Cash Voucher
15/06/2023 Voucher No: 2
Date
Details
Amount
Taxi €80.00
(Manager trip to Athlone)
Total: €80.00
Signed: Melanie Baker Authorised: Simone Farrell
Petty Cash Voucher
24/06/2023 Voucher No: 3
Date
Details
Amount
Repairs to Coffee Machine €60.00
VAT @ 13.5% €8.10
Total: €68.10
Signed: Melanie Baker Authorised: Simone Farrell
End of Source Documents
