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NATIONAL OPEN UNIVERSITY OF NIGERIA
UNIVERSITY VILLAGE, PLOT 91, CASDASTRAL ZONE, NNAMDI AZIKIWE EXPRESS WAY, JABI, ABUJA.
FACULTY OF MANAGEMENT SCIENCES
MARCH/APRIL 2015 EXAMINATION
COURSE CODE: ACC310
CREDIT UNIT: 3
COURSE TITLE: ELEMENTS OF PUBLIC SECTOR ACCOUNTING
TIME ALLOWED: 2 Hours 30 minutes
INSTRUCTIONS: 1. Attempt question Number one (1) and any other three (3)
2. Question number 1 is compulsory and carries 25 marks, while the other three questions carry 15 marks each
3. Present all your points in coherent and orderly manner
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" 19 |
Toll gate fees |
80 |
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" 21 |
Aruna - ledger account |
12,000 |
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" 24 |
Tea and sugar |
4,000 |
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" 25 |
Biscuits |
1,200 |
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" 27 |
Calculator |
1,400 |
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" 30 |
Petrol and engine oil |
2,000 |
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" 30 |
Servicing of official car |
1,200 |
Required:
(a) Enter the above transactions in a petty cash book, having analysis columns for motor expenses, postages and stationery, office entertainment, sundry expenses and ledger column. 25 marks
2) State the functions of Officer Controlling Expenditure in government 15 marks
3) The following balances have been extracted from the books of Apena Local Government Treasury, for the month ended 31 March 2009:
N
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Reserve Fund |
33,500 |
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Cash on hand |
53,000 |
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Bank Overdraft |
5,700 |
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Revenues (recurrent/capital) |
158,500 |
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Expenditures (recurrent/capital) |
125,390 |
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Loans |
200,000 |
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Deposits into (the L.G.C. Treasury) |
23,450 |
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Advances (granted by L.G.C.) |
25,560 |
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Investments |
15,200 |
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Suspense accounts |
202,000 |
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You are required to prepare a trial balance for the month ended 31 March, 2009. 15 marks
4) Discuss budget and its purpose In Government accounting 15 marks
- State the likely five reasons for Government Intervention in Economy 15 marks
- Mention the five causes of Nigeria's Debt Crisis. 15 marks
