Revision Entrepreneurship Education 845/1

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Entrepreneurship Education 845/1

PAPER I

2016

2 HOURS 30 MINUTES

INSTRUCTIONS

• Answer only 4 (four) questions
• All questions carry equal marks
• Credit will be given for use or relevant diagrams/illustrations

1. You have established a Pharmacy as a sole trader in very busy town.

a). Design an Invoice for use in the business                              (6marks)

b). Write a poster for the business                                             (7marks)

c). Design a questionnaire for business use                                (5marks)

d). Explain the various ways in which you will motivate your workers

(7 marks)

• You are provided with the following balances of Birungi and Kitimbo Enterprises as at 31^st December 2014

Item                                                                               Amount (Shs)

Motor Vehicles                                                                        3,200,000

Bank Loan                                                                               2,000,000

Stock of Goods                                                                        2,400,000

Credit                                                                                       1,600,000

Debtors                                                                                    1,800,000

Bank overdraft                                                                         800,000

Cash at Hand                                                                           1,200,000

Buildings                                                                                 4,000,000

Furniture & Fittings                                                                 4,320,000

Accrued Rent                                                                           300,000

Required:

a). Compute the business capital                                                         (3marks)

 b). Present a balance sheet for Birungi and Kitimbo Enterprises as at 31^st December 2014                                                                                    (12 marks)

c). Calculate

  i. Current Ratio                                                                                (3 marks)

ii. Quick Ratio                                                                                   (4 marks)

iii. Capital Employed                                                                         (3 marks)

3. You have established a Sugar factory in your home village as a limited liability company.

a). Prepare a purchase order for 10 trucks of sugar canes                     (6 marks)

b). Design a share certificate to be issued to the shareholders               (7 marks)

c). What factors do you consider when selecting the advertising media to be used in your business?                                                                                 (5 marks)

d). Explain the factors you considered before choosing the location of your business                                                                                               (7 marks)

4.Kilimanjaro Enterprises commenced commercial business on 1^st January 2015 with cash of Shs. 600,000.  In the course    of the month the following transactions took place.

• 2^ndJan. bought goods by cashShs. 400,000 receiving a discount of 10%
• 4^thJan. bought furniture bycashShs 100,000
• 6^thJan. paid carriage bycashShs. 20,000
• 9^thJan. Cash sales Shs 120,000 allowing a discount of 5%
• 12^thJan. Banked Shs 150,000
• 14^thJan. Sold goods by ChequeShs 95,000 allowing a discount of 5%
• 16^thJan. Cash Sales Shs50,000
• 17^thJan. Paid electricity by ChequeShs 20,000
• 19^thJan. Sold goods for cash Shs. 100,000
• 20^thJan. purchased goods by ChequeShs. 30,000 receiving a discount of 2%
• 21^stJan. Bought stationery by cash Shs 15,000
• 23^rdJan. withdrew from the bank Shs. 75,000 for business use
• 24^thJan. paid wages by Cash Shs. 15,000
• 30^thJan. Withdrew from the bank Shs. 25,000 for private use

Required

a). Present a three column cash book for Kilimanjaro Enterprises to record the above transactions                                                                              (20 marks)

b). Extract the general ledger account, to record the discount for the month

                                                                                                          (5marks)

5. You have specialized in the business by providing insurance services to your clients.

a). Write a letter of inquiry to a potential supplier of office materials(6 marks)

b). Describe the steps your customers must follow when taking up an insurance policy                                                                                           (5 marks)

c). What factors would you consider when selecting the means of transport to be used in your business                                                                         (7 marks)

d). Draft a contract for a third party policy to be offered to Drake Motors

(7 marks)

END.

Entrepreneurship Education 845/1

PAPER I

2016

2 HOURS 30 MINUTES

INSTRUCTIONS

• Answer only 4 (four) questions
• All questions carry equal marks
• Credit will be given for use or relevant diagrams/illustrations

1. You have established a Pharmacy as a sole trader in very busy town.

a). Design an Invoice for use in the business                              (6marks)

b). Write a poster for the business                                             (7marks)

c). Design a questionnaire for business use                                (5marks)

d). Explain the various ways in which you will motivate your workers

(7 marks)

• You are provided with the following balances of Birungi and Kitimbo Enterprises as at 31^st December 2014

Item                                                                               Amount (Shs)

Motor Vehicles                                                                        3,200,000

Bank Loan                                                                               2,000,000

Stock of Goods                                                                        2,400,000

Credit                                                                                       1,600,000

Debtors                                                                                    1,800,000

Bank overdraft                                                                         800,000

Cash at Hand                                                                           1,200,000

Buildings                                                                                 4,000,000

Furniture & Fittings                                                                 4,320,000

Accrued Rent                                                                           300,000

Required:

a). Compute the business capital                                                         (3marks)

 b). Present a balance sheet for Birungi and Kitimbo Enterprises as at 31^st December 2014                                                                                    (12 marks)

c). Calculate

  i. Current Ratio                                                                                (3 marks)

ii. Quick Ratio                                                                                   (4 marks)

iii. Capital Employed                                                                         (3 marks)

3. You have established a Sugar factory in your home village as a limited liability company.

a). Prepare a purchase order for 10 trucks of sugar canes                     (6 marks)

b). Design a share certificate to be issued to the shareholders               (7 marks)

c). What factors do you consider when selecting the advertising media to be used in your business?                                                                                 (5 marks)

d). Explain the factors you considered before choosing the location of your business                                                                                               (7 marks)

4.Kilimanjaro Enterprises commenced commercial business on 1^st January 2015 with cash of Shs. 600,000.  In the course    of the month the following transactions took place.

• 2^ndJan. bought goods by cashShs. 400,000 receiving a discount of 10%
• 4^thJan. bought furniture bycashShs 100,000
• 6^thJan. paid carriage bycashShs. 20,000
• 9^thJan. Cash sales Shs 120,000 allowing a discount of 5%
• 12^thJan. Banked Shs 150,000
• 14^thJan. Sold goods by ChequeShs 95,000 allowing a discount of 5%
• 16^thJan. Cash Sales Shs50,000
• 17^thJan. Paid electricity by ChequeShs 20,000
• 19^thJan. Sold goods for cash Shs. 100,000
• 20^thJan. purchased goods by ChequeShs. 30,000 receiving a discount of 2%
• 21^stJan. Bought stationery by cash Shs 15,000
• 23^rdJan. withdrew from the bank Shs. 75,000 for business use
• 24^thJan. paid wages by Cash Shs. 15,000
• 30^thJan. Withdrew from the bank Shs. 25,000 for private use

Required

a). Present a three column cash book for Kilimanjaro Enterprises to record the above transactions                                                                              (20 marks)

b). Extract the general ledger account, to record the discount for the month

                                                                                                          (5marks)

5. You have specialized in the business by providing insurance services to your clients.

a). Write a letter of inquiry to a potential supplier of office materials(6 marks)

b). Describe the steps your customers must follow when taking up an insurance policy                                                                                           (5 marks)

c). What factors would you consider when selecting the means of transport to be used in your business                                                                         (7 marks)

d). Draft a contract for a third party policy to be offered to Drake Motors

(7 marks)

END.