1. You intend to establish a shoe-making workshop:
a) What factors would you consider when choosing a site for your workshop?
b) Explain the factors you would consider when selecting raw materials for your business.
c) How would you package your products?
d) Outline the ways in which your business will benefit society.
2. a) What is meant by the term "imprest" as used in accounting?
A company's petty cashier is given an imprest of shs1,200,000 for a period of 2 weeks. The expenditures were as follows:
Particulars shs
March 2 bought 2 reams of duplicating paper 60,000
3 paid transport to town 40,000
4 bought tea accompaniments for board member's 100,000
5 bought 2 dozens of stencils @at 120,000
6 paid compound cleaner's wage 60,000
8 bought 10 brooms for compound cleaning @ at 10,000
10 paid for stamps and postage 50,000
11 paid money for special hire 120,000
12 bought 3 dozens of omo for cleaners @ at 12,000
15 bought ink for duplicating machine 150,000
17 bought sodas for members of staff 120,000
Required to prepare:
b)Apetty cashbook on imprest system, with analysis columns for stationery, travelling, cleaning and general expenses.
c) balance the petty cashbokk and make relevant entries in the general ledger.
3. Your entrepreneurship club has been given a large piece of land by the school for a project:
a) identify thetypes of agribusiness you can develop on that land.
b) Design a budget for any one of the projects identified in (a) above.
c) Suggest measures you would take to achieve maximum output from the land.
d) Explain the factors you consider when pricing your agricultural products.
4.The following balances were extracted from the trial balance of EDDIE trading company as at 31st December, 2004.
Particulars shs
Stationery 550,000
General expenses 900,000
Rent 900,000
Motor expenses 500,000
Commission received 500,000
Purchases 86,000,000
Sales 100,000,000
Opening stock 30,000,000
Closing stock 25,000,000
Buildings 130,000,000
Debtors 10,000,000
Creditors 15,000,000
Overdraft 9,000,000
Machines 59,000,000
Capital 120,000,000
Drawings 13,000,000
6 year's bank loan 83,650,000
a) Required to prepare:
i. ) A trading, profit & loss Accounts of EDDIE trading company as at 31st December, 2004.
ii. ) A balance sheet.
b) State any three reasons for preparing final accounts.
5. You have been asked to develop a product of your choice in order to participate in an international trade fair:
a) Mention the factors you would consider when developing the product.
b) How would you detertimine the price of your product?
c) What other types of promotion would you use to market your product other than the trade fair?
d) Describe the steps you would take to plan a promotional programme for your product.