Lockhat Incorporated - Trainee Employment Application

Language

English (UK)

How long to complete form?
Trainee Accountant Application

Good Luck!
Welcome

Welcome to the Lockhat Incorporated Trainee Accountant Application.

The information you supply on this form will be treated as confidential. Please complete this form as accurately as possible.

The form includes a number of questions and will require approximately 45 minutes to complete. The accounting test is timed and must be completed within 30 minutes. If you do not complete it you will be scored up to questions answered i.e. you will not earn points or marks for those questions missed. This will negatively impact your scoring during the interview process.

You can only complete the form once. If you are having challenges completing the form, please contact our offices.

Personal Information

Tell Us About Yourself
Name *

First Name Last Name
Where did you hear about us? *
Which office are you applying to *

Port Shepstone Durban Centurion
What Is Your Current Residential Address *

Street Address

Street Address Line 2

City Province

Postal Code
What position are you applying for? *

SAICA Trainee SAIPA Trainee Administration
Gender *
Marital Status *
Email *
example@example.com
What is your Race *

White Indian Coloured Black
Cellphone Number *
Valid ID number *
Date of birth *

Month Day Year
Date
Date

Month Day Year
Date
Age
What is your highest qualification *
This must be your highest completed qualification
Do you have a valid drivers licence *

Yes No
Please upload your CV *
Take Photo

Accounting Test

You have 30 mins to complete our multiple choice question based test, goodluck!
Monday Test score
Q1 Get Timer value (Number Field)
1. Which one of the following statements is INCORRECT?

a) Assets - Equity = Liabilities b) Liabilities + Assets = Equity c) Assets - Liabilities = Equity d) Liabilities + Equity = Assets
2. Which of the following is a current asset?

a) Machinery b) Buildings c) Loan from Shareholder d) Cash Balance
3. Which of the following is a non-current liability?

a) Cash in bank b) Long-term borrowings c) Current portion: long-term borrowings d) Motor Vehicles
4. Which of the following is INCORRECT?

a) Assets R7 850, Liabilities R1 250, Equity R6 600 b) Assets R8 200, Liabilities R2 800, Equity R5 400 c) Assets R9 550, Liabilities R1 150, Equity R8 200 d) Assets R6 540, Liabilities R1 120, Equity R5 420

5. Which of the following are CORRECT?

	Description	Account to be debited	Account to be credited
i	Purchased office furniture for cash	Office furniture	Cash
ii	A debtor, P Sangster, pays us by EFT	Bank	P Sangster
iii	Introduced capital by EFT	Capital	Bank
iv	Paid a creditor, B Lee, in cash	B Lee	Cash

Select from the following options:

a) i and iv only b) ii, iii and iv only c) i, ii and iv only d) i, ii and iii only

6. Which of the following are INCORRECT?

	Transaction	Account to be debited
i	Sold van for cash	Cash
ii	Returned some of office equipment to suppliers Ltd	Office equipment
iii	Repaid part of loan from C Charles by cheque	Loan from C Charles
iv	Bought machinery on credit from Betterways Ltd	Betterways Ltd

Select from the following options:

a) iii and iv only b) i and iii only c) ii and iii only d) ii and iv only

7. Of the following, which are correct?

Transaction	Account to be debited	Account to be credited
i) Goods sold on credit to R Williams	R Williams	Sales
ii) S Johnson returns goods to us	Returned inwards	S Johnson
iii) Goods bought for cash	Cash	Purchases
iv) We returned goods to A Henry	A Henry	Returns inwards

Select from the following options:

a) i and ii only b) iii and iv only c) ii and iv only d) i and iii only
8. Gross profit is:

a) Net profit less (-) expenses b) Sales less (-) purchases, add (+) opening stock c) Sales less (-) purchases, less (-) opening stock, add (+) closing stock d) Cost of goods sold add (+) opening stock
9. Net profit is calculated in the:

a) Profit and loss account b) Trial balance c) Trading account d) Balance sheet

10. Given the following figures:

Sales			8 200
Opening Stock			1 300
Closing Stock			900
Purchases			6 400

The cost of goods sold figure is:

a) R 6,200 b) R 6,800 c) R 7,000 d) None of the above

11. The Philip Company received a bill for Rates. The bill is for R550 and is payable in 30 days. The accounting entry is:

	Debit	Credit
a	Accounts receivable	Service revenue
b	Accounts payable	Cash
c	Rates	Accounts payable
d	Rates	Cash

Select from the following options:

a) b) c) d)
12. The total of the "Discounts Allowed" column in the cash book is posted to:

a) The debit side of the Discounts allowed account b) The debit side of the Discounts received account c) The credit side of the Discounts received account d) The credit side of the Discounts allowed account
13. Given the following information, calculate the amount of the cheque you would make out:

Purchase invoice:
- 5 items - R 80 each
- Trade discount - 25%
- Cash discount - 5% if paid within the credit period
Select one of the following options

a) R285 b) R280 c) R260 d) none of the above
14. Depreciation is:

a) The part of the cost of the fixed Asset consumed during its period of use by the firm b) The salvage value of a fixed asset c) The amount spent to buy a fixed asset d) The amount of money spent in replacing assets
15. A firm bought a machine for R3,200. It is to be depreciated at a rate of 25% using the Reducing balance method. What would be the remaining book value after 2 years?

a) R1,800 b) R2,400 c) R1,600 d) None of the above
16. A firm bought a machine for R 16 000. It is expected to be used for 5 years then sold for R 1 000. What is the annual amount of depreciation if the straight line method was used:

a) R3,200 b) R3,100 c) R3,000 d) R3,750
17. Vat on supplier tax invoices are regarded as:

a) input Vat b) output vat c) a and b d) none of the above
18. Vat on turnover is regarded as:

a) input vat b) output vat c) a and b d) None of the above
19. The employer is liable for what percentage in respect of UIF?

a) 2% b) 1% c) 0% d) 14%
20. What is SARS main electronic medium of communication?

a) U- filing b) E- Filing c) ROE d) None of the above
21. What is the labour departments electronic medium of communication in respect of UIF?

a) U-filing b) E-filing c) ROE d) None of the above

22. CMU Corp, has R4 500 000 of accounts receivable and has found an average of 3 percent of its credit sales are uncollectible. Suppose CMU Corp. determines that a customer owing R10 000 will never pay. What would be the journal entry?

	Amount	Debit	Credit
a	300	Bad debts	Allowance for Bad debts
b	300	Allowance for Bad debts	Accounts Receivable
c	10 000	Bad debts	Allowance for Bad debts
d	10 000	Allowance for Bad debts	Accounts Receivable

Select from the following options:

a) b) c) d)

23. Brooks Co. declared and paid a cash dividend of R5,000. What would be the journal entry?

	Debit	Credit
a	Retained Earnings	Allowance for Bad debts
b	Retained Earnings	Accounts Receivable
c	Dividends payable Retained Earnings	Cash Dividends payable
d	Retained Earnings Dividends payable	Dividends payable Cash

Select from the following options:

a) b) c) d)

24. Given the following balance sheets of three firms, which appears to have greater financial leverage?


	Firm A	Firm B	Firm C
Debt	2	40	15
Equity	8	60	35
Total Assets	10	100	50

Select from the following options:

a) Firm A b) Firm B c) Firm C d) All the same

25. On 01 December 2020, a company purchased supplies for R 1 300. On 31 December 2020, a physical inventory count showed that R 800 of supplies were on hand. The closing adjustment entry is:

	Amount	Debit	Credit
a	R 800	Purchases	Inventory
b	R 1 300	Purchases	Inventory
c	R 500	Purchases	Inventory
d	R 500	Inventory	Cash

Select from the following options:

a) b) c) d)
26. During the 2020 financial year, a company had Credit Sales of R50 000 and their average Trade Receivables balance was R5 000 at year end, what would their average collection period be?

a) 14 Days b) 10 Days c) 36,5 Days d) 32 Days
27. If management were trying to hide profits to lower their tax expense, they would:

a) Under-state sales b) Over-state sales c) Under-state cost of sales d) Over-state depreciation (P/L)
28. Which VAT items are not deductible in terms of the VAT Act

a) A meal was paid for whilst staying away from home for business purposes b) Employee flew to Cape Town for a business meeting c) Purchased Coffee machine dispenser for employee cafeteria d) Insurance on motor vehicle (motor vehicle as defined)
29. In which instance should the Inventory Balance be remeasured:

a) When Fair Value exceeds Cost b) When Fair Value is below Cost c) When net realisable value exceeds Cost d) When net realisable value is below Cost
30. Companies not disclosing the fact that bankruptcy is imminent would be violating which accounting principle

a) Solvency Test b) Profitability Concept c) Business entity Concept d) Going Concern Assumption
Accounting test percentage
Q1 Time's Up?

Interview Questions

Tell us more about your experience and values

1. How would you grade your experience with the following accounting or auditing applications ? *

	Never Used	Very Basic	Average	Advanced
Pastel Express / Partner
Caseware Working Papers
Microsoft Excel
Google Sheets
Microsoft Powerpoint
Quickbooks
Draftworx

2. Are you willing to assist in different departments within the organisation and not necessarily our core accounting and auditing function? *

Yes No
3. Are you able to travel to clients throughout the country, spending up to 3 weeks away from home (we will pay for all travel, subsistence and accommodation)? *

Yes No
4. Are you able to go on company-paid team buildings overnight/weekends? *

Yes No
5. What do you want to ultimately achieve in working at Lockhat Incorporated? *

SAICA Articles SAIPA Articles Permanent Employment Temporary Employment Filler until something else comes along
6a. Have you applied for any other employment elsewhere? *

Yes No
6b. If yes to above, when was the date of your last application? *

Month Day Year
Date
6c.If applicable, where was your last interview? *
6d. In the event you receive a response from another employer previously applied for, would you consider leaving? *

Yes No Depends Not Applicable
7. Should your application be successful and your employment confirmed, do you accept that this questionnaire will be kept on file and could be forwarded to future employers or third parties without them specifically requesting it (Please note that should your application for employment be unsuccessful, all information contained in this form will be destroyed)? *

Accept Do not accept
8. Are you aware of and ready for the challenge of studying and working simultaneously, and will you be able to manage both? *

Yes No Not Applicable
9. Are you willing to work under pressure? *

Yes No
10. Although often relaxed, Saturday until 1pm is an official working day if asked to do so? Do you accept? *

Yes No

11. Please read the following carefully and complete the tick box below: *

	Accept	Dont accept
11a. It is firm policy that you would be required to purchase a laptop, of which 50% will be paid by the firm. Do you understand and accept our laptop policy?
11b. Do you accept that the use of social media is prohibited during office hours?
11c. Staff are required to enter into a life insurance policy at R 70.00 per month. The company contributes the balance. Details of the policy are available. Do you agree to our compulsory Life insurance policy?
11d. You may not excessively use your cellphone for personal voice calls during working hours and it is preferred that personal calls be taken on the company landlines and be kept to a minimum. Do you understand and accept this policy?
11e. Do you accept to use the compulsory company uniform?

12. Please note that there will be a 'staff uniform' amount of R320.00 per uniform that will have to be paid in advance once your probation period is over. Note that should your contract be terminated all uniforms must be returned to the company and you will be fully refunded for the uniform should they be returned in good 'reusable' condition . Do you accept? *

Yes No
13. Please furnish us with an estimated amount of your monthly expenses: *
14. Do you consent to entering into a compulsory employment retention scheme in which you contribute over 24 months and will received 150% of your contributions after the contract period? *

Yes No
15. What is your expected salary (bearing in mind that your company deductions could be as much as R 1 160 - see below for more detail)? *

Monthly Deductions	R
Laptop Repayment (over 12 months)	240
Laptop Insurance Fee	50
Employment retention scheme (SAICA trainee)(over 24 months)	320
Employment retention scheme (SAIPA trainee) (over 12 months)	110
Social Club	50
Life Insurance	70
Once-off Uniform Fee (per uniform ordered)	320
	1160

16. What do you think your future would look like at our company? *
17a. Have you ever been convicted of a criminal offence? *

Yes No
17b. Please outline the nature of the offence, if yes; and if no, list all transgressions or threats against you which were reported to the police or any other disciplinary body. *
17c. Have you ever been involved in a business that went insolvent? *

Yes No
17d. Are you aware and do you accept that you need to apply for and obtain a police clearance certificate and only a clear report can result in permanent employment? *

Accept Do not accept
18a. Do you give us permission to perform a verification of your qualifications? *

Yes No
18b. If no, give reasons *
19a. Do you give us permission to perform an ITC Credit check? *

Yes No
19b. Have you ever had a problem with controlled substance abuse or recreational drugs? *

Yes No
19c. Have you ever been an alcoholic? *

Yes No
19d. Have you ever been involved in a conciliation/arbitration process with the CCMA? *

Yes No
19e. Please outline a description of any health issues that could affect or potentially affect your work: *
20. Do you smoke? *

Yes No
20a. Do you accept that the firm allows no smoke breaks during working hours? *

Yes No
21a. Is your spouse/life partner/significant other contemplating relocating out of Port Shepstone/Durban/Centurion? *

Yes No
22. Does your spouse/life partner/significant other/ parents have any concerns with you working or joining our firm? *

Yes No
23. Are you planning a family anytime soon ? *

Yes No
24. Have you recently been or are you currently under emotional or mental stress that could directly affect your employment eg. divorce/separation from long term partner? *
25. Please list all clients of our office of which you are aware that you have some form of relationship with: *
26. Please list all people you have a pre-existing relationship with at our firm, even if you just know their names *
27. Please list the name of a staff member of our office who has referred you to work here (if applicable). *
28. Do you accept that if you leave, you will not solicit or entice other remaining staff members to leave or facilitate new jobs for them. Do you accept that you can be reported to SAICA, SAIPA and the SAPS for a breach of ethics if found out in any manner? *

Accept Do not accept
29. Do you have any objections adding your photo to your gmail account? *

Yes No
30. The firms policy is that your work emails, work chat applications and ERS clocking system (clock in facility) must be installed and working on your smartphone. You will be given R40 Data allowance per month. Does you smartphone support these applications and have a few gigabytes free space for theses applications to function properly? *

Yes No
31. Please let us know if you have any comments or queries regarding the interview questions above: *
Type a question

Thank you for your submission please select an appointment date for the office below and submit your application.

If there is no date available and you do not hear from us within 14 days, please consider your application unsuccessful.
Appointment - Port Shepstone *
Appointment Durban
Appointment - Centurion *

Thank you for your submission. If you do not hear from us within 14 days, please consider your application unsuccessful.
Should be Empty:

Trainee Accountant Application

Personal Information

Accounting Test

Interview Questions