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CoC L II Accounting RVU

Coc exam

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gelilalemlemadem043640
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79 views2 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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Project One

Project Information: - 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
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 :-
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: 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?

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