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CoC L II Accounting RVU

Coc exam

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204 views7 pages

CoC L II Accounting RVU

Coc exam

Uploaded by

gelilalemlemadem043640
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Rift Valley University

Department of Accounting and Finance


Institutional Assessment for Level II program Students
Name______________________ID.No.___________
Program: Night Weekend
General Instruction:
 You are given 5 different projects from 5 unit of competencies with a total of 16
tasks under the projects. All tasks under each project must be attempted.
 Write your answers on the answer sheet with a clear and neat handwriting
otherwise the assessors will not check it.
 Using cell phone is not allowed for calculation. Use the normal calculator.
 Maximum Allowed Time is 3 hours
Project One-Develop Understanding of Debt and Consumer Credit
Let assume XYZ company is a service giving organization which is intended to deliver hotel
service to customers. Currently the organization is planning to be client of awash bank,
Adama Branch. In order to purchase hotel equipment for hotel use which need to have a total
of birr 14,800,000 after four years, starting from the beginning of this year the company has
planned to deposit birr 1,350,000 per year with an annual simple interest rate of 5% for four
years. The remaining amount of fund required to purchase hotel equipment is to be obtained
from bank loan at annual simple interest rate of 7%. Assume you are a responsible person at
awash bank, Adama to the above information the candidate is expected to perform the
following tasks
Task 1. Compute the accumulated Interest gained by XYZ Company at the end of fourth year
Task 2. How much would be including the accumulated interest) the total amount of deposit
made by ABC Company at the end of four years?
Task 3. The total loan required at the end of four years?
Task 4. Assume the loan is to be repaid after three years at one time together with interest,
how much is the total repayment amount to serve this debt?
Project Two-Develop Understanding of Taxation
Company ABC registered business in Ethiopia which involves on import and export
businesses the company has made the following transaction during the month of November
2022 of November 10 purchase coffee at birr 3,200,000 inclusive Vat from this purchases the
company sold to :-

1
I. star bag company based in UK for the amount of birr 4,050,000 without Vat moreover a
company has the following employees:

Name of employees. Monthly salary. Taxable allowance


Abel 2500 500
ABDI 4500 400
Kalid. 6000 300
Task 1 calculate Direct and Indirect Tax
Task 2 . Pass journal entry

Project Three: Prepare and Use a Personal Budget and Savings Plan
Mr. Omar gets a monthly net salary of birr 10,500 from ministry of revenue Zeleke, monthly
expenditure as percentage of his monthly income as follows
S/n. Item Percentage
1 Clothing 10%
2 Food 55%
3 Entertainment 1.50%
4 Utility 1%
5 School fee 3%
6 Transportation 2%
7 House rent 15%
Task One: calculate the total net salary of Omar for one year assuming that after 6 month
there will be 5% increase?
Task two: calculate the total expenditure of Omar of one year assuming that after 6 month
there will be 5% increase?
Task three: compute the amount of Omar’s saving at the end of the year, assuming that after
6 month there will be 5% increase?
Task Four: Describe three purposes of Omar 's saving?
Project 4. Use Business Equipment and Technology
Task 1. List down common types of business technology now a day in an office.
Task 2. List advantages of Internet and explain each in brief.
Task 3. List the commonly known computer hardware and explain in brief each
hardware’s. function.

2
Project 5. Apply 5s Procedures
Task 1. List the most commonly known workplace hazards and explain each in short.
Task 2. Write down steps in implementing sorting items in an organization.
Task 3. What are the steps in red-tagging of items in a working area. Only list the steps.

Answer Sheet

Name___________________________ID.No.______________ Program_______________

Project 1.

3
Project 2.

4
Project 3,

5
Project 4.

6
Project 5.

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