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  MAKERERE UNIVERSITY BUSINESS SCHOOLPROGRAMME: MSC. ENTRPRENEURRSHIPCOURSE UNIT: ACCOUNTING  ACADEMIC YEAR: 2007/2008YEAR: TWOFACILITATOR: MR MATAMANAME: REG NO: SIGNODHIAMBO ANITA AKINYI MUBS07/02/7102  T! #$E%&'()'(%(*' !'( !+,!- &('( - (%  -(!' !3* &4(%& 5% !66*%&5%. T5% +5#( ()'(65!&5% ! (& 6+ 5% &6# !4% &(' 5 '5(%& &( (%&'()'(%(*' 6* & !&&!5% )'5& . A ! 4! &('9 &*(%& ,5& ! 5! 5% (%&'()'(%(*' 5) ,5& 6+(!' #%,+((  !66*%&5% , &( !+55&-  &5 &!&(4(%& 6+(!'+- *&+5%5% (('!+ &() &!& !'( &!#(% ('( 5%!%65!+ &!&(4(%& !'( (;&'!6&(.  R(!'+(  &( &-)(  * 5%( ' &( !66*%&5% - &(4 * ( 5& 5 %& ) 5+( & #(() !++ !66*%& *) & !&( !& !++ &54( . A& &( (%  (!6 5%!%65!+ -(!' 6('&!5% !66*%& 4* & ( *)!&( - !3* &5% (%&'5( . A& &( (%  &( )('5 &( !66*%&!%& )'()!'( &( 5%!%65!+ &!&(4(%& . T5 (%  )('5 )'6( (5% ,5& &( &'5!+ !+!%6( &!& +5 & &( !66*%& !% &(5' !+!%6( !&(' &( )('5 &'!% !6&5% !( ((% '(6'( 5% &( 3*'%!+ !% ) &( & &( !66*%& 5% &( +(('. T( &'5!+ !+!%6( !4*%& !'( 5%64)+(&( (6!* ( &(- 45& 6('&!5% '((%*( !% (;)(% ( &'!% !6&5% &!& !(6& 4'( &!% %( !66*%&5% )('5. A&(' !3* &5% (%&'5( !'( '(6'( !% !(6&( !66*%& 5% &( &'5!+ !+!%6( !3* &( &( !66*%& ,5++ '(+(6& &( &!&*  &( * 5%( !% 5%!%65!+ &!&(4(%& 6!% &(% ( )'()!'(. T( 4!3' !3* &4(%& &!& !'( * *!++- 4!( 5%6+*( &( ++,5%. Bad and doubtful debts S4( (&' ,5++ !+,!- !5+ & %' &(5' +5!&5% ,5&5% &( 6'(5& )('5 ' ((% !5+ & )!- &&!++-. A )'5 5% *+ ( 4!( ' & ( '(6(5!+( ' (& &!& !( ! 5 ) 55+5&-  %& (5% 6++(6&(. T ( &!& (64( *%6++(6&5+( *+ ( ,'5&&(% . B! !% *&*+ (& !'( ! * 5%( '5 # !% !'( &'(!&( ! (;)(% ( . P'5 5% ' ! (& *+ ( 6'(!&( ' !++ & ( !66*%& &!& !( ! 5 ) 55+5&-  %& (5% 6++(6&(F' (;!4)+( ! 64)!%- ! (&' &&!+5% 10000000/< *& 10=  &(4 !'( *&*+ !% !'( +5#(+- %& & )!-. A )'5 5% ' ! !% *&*+ (& *+ ( 6'(!&( - 4!#5% &( ++,5% (%&'-.D' B! !% *&*+ (& (;)(% ( A/C >00000C' P'5 5% ' ! !% *&*+ (& A/C >00000I% 4( 6! (  &( (&' , ,('( %6( *&*+ &'*+- (64( ! !% &(5' !4*%& !'( *%6++(6&5+(. T(5' !66*%& !( & ( ,'5&&(% . I& 5 ,'5&&(% ! ++, .D'. P'5 5% ' ! !% *&*+ (& A/C >00000C'. D(&'9 A/C >00000  Direct write off of a bad debt F' 4!++ (&'9 !4*%& ' '(6(5!+(  &('( 5 % %(( & 6'(!&( ! )'5 5% ' ! (&  ! 5'(6& ,'5&(  6!% ( 4!( & &( )'5& !% + A/C. F' (;!4)+( ,(% !+( !'( %( % 6'(5& ' !% !4*%&  10000/< 5 (!*+&( !% 5 %& +5#(+- & ( )!5. T( !66*%&5% (%&'- & ,'5&(  &( 4!++ !4*%& 5 ! ++, :D'. P'5& !% L ?P@L A/C ?! (&  10000C'. D(&'9 A/C ?3%9 A/C 10000 Increasing the provision for bad debts  A& &54(  &( )'5 5% ' ! (& 45& !( & ( 5%6'(! ( (-% &( 6*''(%& )'5 5%. F' (;!4)+( 5 &( 6*''(%& )'5 5% ' ! (& 5 2000000/< *& ! & ( 5%6'(! ( & 000000/<T( !66*%&5% (%&'- 5 ! ++, :D'. B! (& (;)(% ( A/C 1000000/<C'. P'5 5% ' ! (& A/C 1000000/<T( !66*%&5% (%&'- 5 )(''4( ,5& &( 5('(%6( 5.(. 000000 2000000 < 1000000/< Decreasing the provision for bad debts I (&' &!'& )!-5% !% &('( 5 +5&&+( *& !*& &( !4*%& (5% 6++(6&( ! )'5 5% ' ! (& ,56 ,! %6( 5 6!% ( '(*6(. F' (;!4)+( ! )'5 5%  >000000/< ! ((% 4!( !!5% & ! (&  &( )'5 5% 5 %, & ( '(*6( & 000000/< A66*%&5% (%&'- 5 ! ++, $D'. P'5 5% ' ! (& A/C 2000000C'. P'5& !% + A/C ?'(*6&5% 5% ! (& )'5 5% 2000000 Collecting a bad debt that had been written off  A% !66*%& &!& ! ((% ,'5&&(%  ! *%6++(6&5+( ' ! 6!% ( 6++(6&( !& ! *&*'( !&( 4!- ( !&(' &, ' 4'( -(!' . F' 5% &!%6( ! * 5%( ! ,'5&&(%  ! ! (&  10000000/< !% 5 )!5 !&(' 5& ! ((% ,'5&&(%  - 6(*(.  T( !66*%&5% (%&'5( & '(6' &( !( !'( ! ++, T( 5' & &() 5 & '(5% &!&( &( (&' !% &( ++,5% (%&'- 5 4!(:D'. D(&'9 A/C 10000000C'. B! (& '(6('( A/C 10000000T( (6% &() 5 & '(6' &( '(6(5)&  ! 6(*( * 5% &( ++,5% (%&'- D'. !%# A/C 10000000C'. D(&'9 A/C ? () A/C 10000000T( &5' &() 5 & 6+ ( &( ! (& '(6('( A/C & &( )'5& !% + A/C - * 5% &( ++,5% (%&'-:D'. B! (& '(6('( A/C 10000000C'. P'5& !% + A/C 10000000 Prepaid expenses T( ( !'( (;)(% ( )!5 5% !!%6(. A3* &4(%& 4* & ( 4!( ' (;)(% ( &!& !'( )!5 5% %( 5%!%65!+ -(!' *& (%(5& &( ++,5% 5%!%65!+ -(!'.F' 5% &!%6( '(%&  000000/< 6!  ,! )!5 % 1 &  !%*!'- 1 & 6(' ! )('5 & 1 &  4!'6 2000 ?1> 4%& . R(6' &( !3* &5% (%&'- ' &( )'()!5 '(%& !& &( (%  &( 5%!%65!+ -(!' % 1 &  D(6(4(' 1.M%&+- '(%& )!-4(%& < 000000 1> < 200000S5%6( &( 5%!%65!+ -(!' 5  12 4%& !% &( '(%& ! ((% )!5 ' 1> 4%&   4%& 9 '(%& )5++ & &( ++,5% 5%!%65!+ -(!' !% 5 6!++( )'()!5 '(%&.P'()!5 '(%& < 200000 ;  < 00000 A3* &5% (%&'- ' &( )'()!5 '(%& 5 ! ++, D'. P'()!5 '(%& A/C 00000C'. R(%& A/C 00000P'()!5 '(%&  00000 ,5++ !))(!' 5% &( !+!%65% ((& ! !% ! (& ,5+( 5% &( 5%64( &!&(4(%& &( '(%& (;)(% ( ,5++ ( 200000 5.(. 000000  00000
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