SECONDARY TEACHERS’ DIPLOMA

Department of Business Studies

FINANCIAL ACCOUNTING

Year 3 (3.2)

2022 INTAKE - DISTANCE

TITLE: ASSIGNMENT

LECTURER: MR F.TIMBA

DUE DATE:12th February 2024

ZAMCAPITOL LTD has the following information about its three departments,
HARDWARE,GROCERY and ELECTRICAL for the year ended 31 December 2022

Sales:

HARDWARE 90,000

GROCERY 70,000

ELECTIRCAL 120,000

Purchases:

HARDWARE 70,000

GROCERY 65,000

ELECTRICAL 115,000

Stock of 1 January 2022 :

Rent and Rates 7,000

Administration 5,000

Heating and listing 1,500

Salaries :

HARDWARE 7,000

GROCERY 2,500

ELECTRICAL 3000
Other balances are :

Creditors 9,500

Debtors 1,500

Bank 14,000

Capital 50,000

Rent and rates heating and lighting are to be apportioned on the basis of the floor
area which is HARDWARE 15% ,GROCERY 10% and ELECTRICAL 5%

Administration is to be apportioned on the basis of sales.

Closing Stock is as follows;Hardware K7,000,Grocery K11,000 and Electrical K8,000

respectively.

You are required to prepare ZAMCAPITOL Departmental trading and profit and loss
account for the year ended 31 December 2022.