ENTREPRENEURSHIP GRAND SEMINAR

SCHEDULED ON 5TH/JULY/2025 AT BUDDO SECONDARY SCHOOL

2025 FOR NLSC

E.O.C 1: BUSINESS START UP PROCESS

Item 1
Alpha is in the process of starting up a restaurant in Wandegeya near Makerere
university. However, she is unsure of the customer’s needs in terms of food verities
preferred, prices to be charged among others. He also needs guidance on how
production requirement can be analyzed.
Task
Guide Alpha to:
a) develop a suitable tool to effectively gather the customers’ opinions.
b) Make an analysis of production requirements for the proposed restaurant

Item 2
Sarah resides in a busy trading center surrounded by many schools and universities.
She successfully saved ugx. 2,000,000 to start Discotheque or restaurant. Her
entrepreneurial aspirations are bright, but undecided between which suitable business
to start. She also lacks knowledge on how to acquire additional funds to expand
production and sustain her chosen venture beyond its initial stage. She plans to save
most of her earnings in the bank.
Task
Using your entrepreneurial skills guide Sarah to;
a) Select the most appropriate business
b) i) identify possible alternatives for raising additional funds
ii) budget for the funds
c) Besides saving funds in the bank, advise Sarah on the other forms through which
she can save her earnings.

Item 3
Magezi and Tonny have jointly saved UGX 4,000,000 to start a snack business dealing
in chappatis, mandazi, doughnuts etc and they are wondering where to locate their
business. They were denied a contract of supplying to the government offices snacks
for not having Tax Identification Number (TIN). They were also told that the business
has no trading license. The two lack clear guidance on how they can formalize their
business to start supplying district offices and since it is one of the requirements to get
government funding. They plan to wind up with the implementation of intended
activities in one month.
Task
Help Magezi to
a) select the location for the Snacks business.
b) Guide them on the procedures to follow before starting snack business.
c) i) educate them on the process to undertake so as to acquire the TIN and trading
license
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 ii) plan for the implementation of business activities

Item 4
Namukisa is a retired Civil servant in Masaka City. She has invested his retirement
package in establishing a poultry farm and a big plantation on 5 acres of land.
Recently she is experiencing a challenge of producing surplus production which cannot
be consumed locally and she has been advised to explore market opportunities in
neighboring countries.
Tasks
Inform Namukisa on:
a) benefits she is likely to enjoy when operating such businesses.
b) What documents may Namukisa require to process before disposing of the surplus
to other countries.
c) Plan for administration of labour.

E.0.C 2 MANAGING THE BUSINESS.

Item 5.
Onana is a graduate of food technology from Kyambogo University. He has passion for
healthy living and is about to launch “Pure Harvest Juices” a small-scale enterprise
specializing in fresh natural fruits juices such as mango blend, passion fruit delight etc.
His target market is health-conscious individuals, urban office workers, and local
fitness fans in Kampala. He buys fruits mostly in the evening from road side vendors
and other local farmers in the community but sometimes the quality is poor and the
supply is insufficient. He is particularly concerned about ensuring a consistent supply
of fresh, high-quality juice throughout the year and reaching his specific target
audience without overspending on advertising. He has approached you for technical
advise.
Task
As an Agri business consultant;
a) advise Onana on the considerations for selecting suitable supplies for his juice
products
b) with reasons select appropriate advertising medium to promote the launch of ‘Pure
Harvest Juice’

Item 6.
Kapere is the owner of kombucha beverages limited Kyengera mainly produces bottle
local wine and drinking water. Most of ingredients like banana, pineapples it uses to
process local wine donot meet the production standards, expensively supplied and gets
easily spoilt. It mainly sells wine directly to a few local shops near their factory and to
customers with in the community using a simple Van and this has reduced sales.
However, there is a need to expand their distribution to reach distant areas.
Task
a) with justification, identify suitable distribution strategies for the products.
b) i) Select right ingredients for production of wine.
ii) Advise kombucha beverages on the ways of raising decline in sales.

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Item 7
Zakayo an entrepreneur started a business dealing in processing maize flour, millet
flour and soya flour. He buys his inputs from farmers in the local community at
cheaper prices. Recently he started processing peanut butter since most of the farmers
in the area started supplying him with groundnuts.
Zakayo wakes up early in the morning to attend to the customer orders that come
from nearby schools and restaurants. They all praise the quality of paste and flour
packed in attractive paper bags. He properly links up with his customers through
calling them frequently and he has been setting weekly sales targets as strategy to
guarantee business profitability.
Task
Using your entrepreneurship skills;
a) Identify the attributes possessed by Zakayo
b) Present the possible practices that have been practiced by Zakayo to maintain
quality standards.
c) Analyze benefits enjoyed by Zakayo through producing groundnut paste and flour.

Item 8.
Suubi is operating a furniture workshop at his home town dealing in sofa sets, office
tables, dining tables, chairs and beds of different varieties. His tools, machinery and
equipment frequently break down and this has delayed production and affects quality
of the goods produced. However, he plans to buy better ones
Currently a number of furniture products sold per week reduced due to low levels of
innovative practices
Task
a) Guide Suubi on selection of tools, machinery and equipment for his business.
b) Advise Suubi on innovative practices that can be undertaken to boost weekly sales
for furniture products.
c) Design a sign post to direct customers on Suubi’s furniture workshop.

Item 9
Sirajje is an entrepreneur operating furniture work shop in Kisozi trading center. He
uses manual machines to process the furniture products but this lowers the quality of
the output. He employs three skilled workers but conflict over roles to perform and he
has no knowledge about the importance of allocating duties. He poorly keeps his
records and this has made it difficult to track the performance of his business.
However, Sirajje has invited you for technical advice.
Task
a) Inform Sirajje on the business benefits enjoyed after allocating tasks to business
employees
b) Guide Sirajje on the importance of keeping effective records as a strategy to track
the performance of the business.

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ELEMENT OF CONSTRUCT 3: BUSINESS SUPPORT
Item 10
The Buddo teachers’ Agri-Farm SACCO in Buddo was established two years ago by 50
ambitious teachers with farms. It is now grappling with severe crisis. Initially, the
SACCO served as a vital association, enabling members to pull weekly savings and
access crucial micro loans for chicks, feeds and essential equipment, significantly
boosting their poultry production. However, over the past 6 months, this promising
cooperative has faced many challenges like loan defaulters have increased drastically;
active membership has dropped from 50 to 33 and the treasurer has reported alarming
inconsistencies in the financial records.
At the same time, the chairperson faces accusation of being a dictator and illegally
charging exorbitant interest rates on loans different from SACCOS founding principles.
The remaining members have fear for the SACCO’s collapse. With many planning to
withdraw their savings. In this desperate situation, the worried members have
collectively approached you, seeking urgent professional advice to save and revive
their SACCO.
Task: Help them to:
a) Illustrate the ideal operational basis for proper functioning of the SACCO.
b) Demonstrate strategies that could be implemented to revive the struggling SACCO.

Item 11
Apio has been operating a bakery business for the last 10 years with 5 employees. She
distributed the products to consumers in the community. When Apio tried to distribute
bread to the district officials and supermarkets she was denied the opportunity due to
lack of tax compliant certificate. She has always conflicted with URA when importing
most of the wheat flour from other countries. Customers are happy with the quality of
the products because they soft and well flavoured and affordability of her products.
She serves her customers with a smile and employees work on contract basis. Some of
the bakery premises are rented which provides additional income to the business
Task: Help Apio to:
a) i) identify the possible types of taxes her business can pay.
ii) inform Apio the benefits her business will get when she complies with URA.
b) Analysis ethical practices exhibited by Apio in her business.

Item 12
Gava owns a micro finance institution. The institution provides salary loans, school
fees loan and business loans. Gava normally moves with a lot of money on a motor
cycle and loans could not be disbursed to clients when he is not around. The customer
turnup is also still low since most of them have no knowledge about services offered
by financial institutions. Some cash which customers bring as part of loan repayment
also gets lost at the offices under Manship of dishonest employees. He instructs the
workers to close the premises if he is notified of the presence of URA enforcement
officials. This is because he lacks knowledge about his obligations as a tax payer.
Task:
a) As an expert in banking, avail knowledge to the community about services offered
by micro finance institutions
b) How can technology solve the challenge in the scenario?

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c) Guide Gava on his obligations and Rights as a tax payer.

ITEM 13
Blessing is the owner of Mazima poultry farm which is one of the businesses that were
greatly affected by COVID-19 which resulted into making physical interaction and
meeting customers difficult to conduct financial transactions.
The business currently is facing other challenges such as frequent machinery
breakdown, misappropriation of funds by the dishonest employees, fire out break and
theft of merchandise hence registering huge losses.
The farm employees 5 professional employees with a monthly salary of shs. 400,000
each.
Task
a) As a student of entrepreneurship, how can electronic banking solve the challenge
faced by patience’s business in the scenario
b) Present the insurance policies that can be used to manage risks facing Blessing’s
business
c) Assist Blessing to compute the annual income tax to be tax be paid to URA for
professional employees using the following URA subscribed tax rates.

Chargeable monthly Income Tax rate

Exceeding shs 335,000 but not Shs 10,000 plus 20% of the amount by which
exceeding shs 410,000 chargeable income exceeds shs 335,000

Item 14
KAWA operates a poultry business in his home town with a very busy schedule. He has
been receiving payments in cash from his clients and also keeps his profits at his
home. Last week thieves broke into his house and stole all the money that was kept at
home and yet he has no insurance cover. He has been advised to open up a bank
account though he lacks knowledge about a suitable account to open. A few days ago,
URA threatened to close and impound his birds for failing to file for VAT. The business
total purchases amounted to Ugx 85,000,000 and sales amounted to Ugx 127,000,000
Task
Use your entrepreneurial skills to;
a) Guide him on the appropriate account to open.
b) Compute the VAT payable to URA by Kawa’s Poultry business.
c) Advise him on the necessary procedures to follow for seeking the appropriate
insurance cover.

Item 15
Bomboka is a local entrepreneur who operates a car hire business in Kampala. As part
of managing business risks, he insured his vehicles with a well-known insurance
company. Unfortunately, one of his cars got involved in a serious accident. When he
approached the insurance company to claim compensation but he was shocked to be
denied payment. The insurance officials stated that some principles of insurance had
been violated, which left Bomboka confused and frustrated. He poorly keeps his
records and has no TIN. Sometimes he closes his business and hides after getting

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information about URA enforcement. URA now threatens to close the business due to
non-tax compliance practices exhibited by Bomboka
Task:
He has now invited you, as a student of Entrepreneurship, to help him
understand:
a) The principles of insurance he may have violated.
b) Advice Bomboka on strategies he can undertake to save his business from being
closed by URA.

E.O.C 4. APPLYING BOOK KEEPING SKILLS

Item 16
Tusuubira is a proprietor of sweet bite bakery based in Mukono dealing in all bakery
products. A proprietor implemented an Imprest system starting 1st May 2025. He
established an initial cash float of UGX 1,200,000 from the business’ main bank
account on that date. At the end of May, Tusuubira needs to accurately track all cash
payments and importantly understand his business financial health. He has instructed
you with a task of preparing appropriate cash records and comprehensive summary of
his financial position as at 31st May 2025.
Cash payment for minor cash transactions for May 2025
2nd paid for office cleaning supplies UGX 25,000
5th paid for postage stamps for mailing clients’ reports UGX 15,000
8th paid for tea, coffee and sugar for the office refreshments UGX18,000
20th paid for stationery (pens, papers and folders) UGX 30,000
24th paid for water dispensary refills in his office UGX 22,000
28th paid for minor electrical repairs (light bulb replacement) UGX 40,000
29th paid for photocopying clients’ documents UGX 12,000
29th paid for envelopes UGX 10,000
31st Tusuubira checked on the petty cash balance and decided to reimburse the fund
from the main bank account to restore the Imprest float
Other financial information available appears below;
Details Ugx
Office equipment 3,000,000
Office furniture 2,000,000
Debtors 3,000,000
Bank balance 15,100,000
Capital 15,000,000
Net profit 5,100,000
Drawings 7,000,000
Creditors 10,000,000
Debenture 5,000,000
Stock 3,800,000
Task
Using your accounting and entrepreneurial skills, prepare the following for Tusuubira
bakery limited

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a) i) Prepare a suitable cash book for the month of May to take record of minor
expenses using appropriate columns of postage, office supplies, stationary,
traveling, repair and maintenance
ii) Open up relevant ledger accounts.
b) Determine the financial position of Tusuubira bakery

Item 17
Asiimwe is a busy grocery owner of ‘Magoba Grocery” in Kamokya a city surbub with a
daily busy schedule but with little knowledge of record keeping. She has been inviting
different experts at the end of the financial year to assist her balancing her records.
Last year 2024 one of the accountants she has been employing halfway kept records
after falling sick.
Because of her busy schedule, she has not been issuing out documentary evidences
for any transactions that takes place. On 5th July 2024 Katushabe a daily customer
took 3kgs of Rice each at 5,000 and paid 5kgs of sugar each at 4,000. She is
demanding for evidence for transaction which patience has failed to provide.
You have been invited to complete the compilation. The records appear as follows;
Details Ugx
Gross profit 45,000,000
Sales discount 800,000
Land 13,000,000
Furniture 6,000,000
Rent and rates 4,900,000
Premium charges 15,000,000
Capital 136,000,000
Drawings 11,000,000
Cash at hand 14,000,000
Cash at bank 3,000,000
Stock at close 7,500,000
Creditors 15,500,000
Debtors 1,800,000
Purchases discount 500,000
Carriage on sales 3,000,000
Task
a) Help Asiimwe to provide suitable documentary evidence for the business.
b) Determine the actual profits made at the end of the financial period.
c) Determine the value of assets and liabilities.

Item 18
Grace serves as the operation’s manager of “Quality Grain Processors” a crucial
community-based enterprise in Gulu. The mill deals in processing of quality flour and
records daily transactions. Although Grace diligently records all daily transactions
including maize purchases, flour sales and operational expenditures such as fuel and
mill maintenance in a basic ledger and through collected receipts, these records are
not formatted for formal accounting presentation.
The transactions appear as follows;

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As at 30th June 2024
Details Amount (UGX)
Purchased milling machine 75,000
Trade receivable 18,000
Bank loan 31,000
Cash balance 14000
Bank account 27,000
Drawings 10,000
Discount on purchases 6,000
Capital 190,000
Carriage on sales 8,000
Wages and salaries 15,000
Debenture 14,000
Discount on sales 48,000
Commission received 20,000
Stock at close 48,000
Sales 128,000
Maize seeds bought 90,000
Sold flour 128,000
Carriage inwards 10,000
Stock at start 28,000
Overheads 4,000
Premium 8,000
Returned flour by customers 6,000
Expired raw maize seeds returned to farmers 5,000
Task
The cooperative miller’s committee is scheduled to hold its annual review meeting next
week and you are required to present the following
a) A summary of debit and credit balances.
b) Statement of comprehensive income as at that date

Item 19
Masaka hardware stores located in Masaka, Uganda deals in various hardware
materials during the month of June 2025. Some customers took materials on credit
whose details were captured as summarized below;
1st June sold to Jojo 3 bags of cement each shs.20,000 less 5% discount, 3 boxes of
nails each at shs.10,000 and 3 tins of vanish earn at shs.5,000 less 5% discount
2nd received 2 bags of cement from Jojo due to expiry
5th bought 4 bags of cement each at shs.10,000, 3 iron bars each at 5,000 from Sarah
6th returned 2 iron bars, 1 bag of cement to Sarah
The business owner invested shs. 470,028,250 (capital) at start and now own a
building with shs. 200,000,000, motor van worth 120,000,000 and money in cash is
UGX 100,000,000 and at bank UGX 50,000,000. The entrepreneur has failed to post
the credit transactions in their relevant books of original entry and also determine the
value of assets and liabilities.
Task

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a) i) Prepare a relevant book of original entry
ii) Draft a source document to take a record of returns made by the business
customers to the Masaka hardware stores
b) Determine the value of assets and liabilities

Item 20
Promise has been operating a retail shop business since 2020. Due to limited
resources, she has been receiving assistance from her sister, who helps manage the
shop and also attempts to keep financial records. However, her sister has no formal
training in accounting, which has led to some confusion in record keeping and financial
management.
Details Ugx
Capital contributed 6,850,000
Total sales revenue 5,200,000
Purchases made during the year 3,800,000
Value of shop premises 50,000
Values of motor vehicle owned 1,200,000
Cash available at hand 5,720,000
Sales returned by customers 1,200,000
Discount received from suppliers 400,000
Discount allowed to prompt customers 500,000
Value of goods at the start of trading period 870,000
Value of goods taken by the owner for personal use. 1,100,000
Electricity expenses 1,440,000
Insurance bills paid 1,800,000
Unsold goods at the end of the trading period 720,000
Outstanding bank overdraft 1,720,000
Amount owed to creditors 300,000
Rent income earned 550,000
Goods returned to suppliers 550,000
Bank loan 2,660,000
Purchase of land for business expansion 550,000
Task
Assist promise to
a) Check on the arithmetic accuracy as at 31st Dec. 2020.
b) Determine the profit or loss as at the of the trading period ending 31 Dec 2020.
c) Value of assets and liabilities as at 31st Dec. 2020

Item 21
Tracy is a young entrepreneur who operates a small juice processing business in the
trading center of her village. Despite her limited book keeping skills, she keeps basic
records of her business transactions. Below is a summary of her business activities for
the month of June 2024.
1st commenced business with cash UGX 60,000
2nd bought oranges by cash UGX 20,000
th
5 Received receipts from land Lord UGX 15,000
th
7 sold 3 glasses of juice worth UGX 15,000
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10th bought 1 box of lemons by cash UGX 22,000
12th sold 10 glasses of juice worth UGX 32,000
th
15 made cash drawings UGX 10,000
th
18 Issued receipt to tenant UGX 28,000
th
20 sold 5 glasses of juice by cash worth UGX 38,000
30th bought stationery by cash UGX 5,000
Task
Tracy is seeking your assistance to organize these records using the double entry book
keeping system and check on its arithmetic accuracy

Item 22
Kirabo Traders is a busy retail shop in city suburbs of Mukono. It sells most of its most
of its products on both cash and credit basis as a strategy to boost sales.
The following is a list of Customers and suppliers for the last month of May
2025.
Date Invoices issued to customers Document no Amount
MAY Ugx
st
1 Kisakye 001 40,000
nd
2 Mukisa 003 80,000
th
6 Mubeezi 004 100,000
th
11 Grace 006 60,000
th
15 Tendo 007 40,000
Invoices received from suppliers
rd
3 Omara 002 120,000
4th Ola 005 30,000
th
5 Otimu 008 50,000
th
7 Okidi 009 60,000
Credit Notes Issued.
th
13 Kisakye 010 10,000
th
14 Mubezi 011 20,000
Credit notes received
th
15 Ola 007 15,000
th
16 Okidi 009 8,000
Task
a) Assist Kamukamu Retail shop to prepare relevant books of accounts so as to
determine:
i) total debtors
ii) total creditors
iii) total sales return
iv) total purchases returns using relevant books of accounts
b) Determine
i) Net purchases
ii) Net sales

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Item 23
Capital Shoppers Enterprise is a newly established business dealing in general
merchandise. The owner started operations in December 2020 and conducted various
transactions during the month. However, the business owner is still learning how to
record financial transactions and seeks your help in preparing accurate financial
records.
Below are the summarized transactions for December 2020:

December 1st
The business officially commenced operations. The owner introduced capital into the
business in the form of UGX 2,000,000 in cash and UGX 4,000,000 deposited in the
business bank account.

December 4th
The proprietor made a personal withdrawal of UGX 200,000 in cash from the business
funds to cater for private expenses not related to the business operations.

December 10th
A cheque payment of UGX 250,000 was issued to the landlord to cover monthly rent
expenses for the business premises.

December 12th
The business made a cash purchase of goods worth UGX 400,000 for resale in the
ordinary course of operations.

December 14th
Capital Shoppers Enterprise sold goods to a customer, who in turn paid by cheque
worth UGX 600,000, which was deposited into the business bank account.

December 18th
The business purchased various office stationery items, and the amount of UGX
220,000 was paid directly by issuing a cheque.

December 22nd
The business withdrew UGX 500,000 from the bank to increase cash on hand for daily
operational needs. This was done by cashing a cheque drawn on the business account.

December 23rd
Capital Shoppers Enterprise purchased furniture to be used in the shop and paid UGX
850,000 by cheque to the supplier.

December 24th
The business acquired goods on credit worth UGX 650,000 from a supplier named
Odongo. Payment was not made immediately and is expected at a later date.

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December 28th
The business made cash sales amounting to UGX 300,000, which was immediately
added to the cash on hand.

December 30th
The business settled the outstanding balance owed to Odongo for the goods bought
on credit earlier in the month by making a full payment of UGX 650,000 in cash.
Task:
a) Prepare appropriate cash book for the month of December 2020.
b) From the same data, open relevant ledger accounts, post the transactions
accordingly, and balance off each account.
c) Prepare a Statement of Arithmetic Accuracy for Capital Shoppers Enterprise as at
31st December 2020, showing the balances extracted from the ledger accounts.

Item 24
Wolokoso Traders is a fast-growing retail business located in Wakiso District. The
business specializes in the supply of general merchandise including hardware and
household goods. It operates both on a cash and credit basis, and frequently offers
trade discounts to encourage bulk purchases.

The business owner, Mr. Wasswa, has recently experienced a significant increase in
business activities. However, he has noticed inconsistencies in the way transactions
are being recorded in the books. He has now approached you to help organize and
correctly record the transactions that occurred during the second week of January
2010.

Below is a summary of transactions that require proper classification and posting into
the books of account:
The details of the transactions are as follows:
5th January 2010.
 Purchased 20 cartons of fancy goods from Kampala Traders at Ugx 100,000 each,
less 10% trade discount. (Invoice No. 12345)
 Purchased 100 bags of cement from Kiwatule Traders at Ugx 22,000 each, less
10% trade discount. (Invoice No. 12456)
6th January 2010,
 Returned 2 cartons of fancy goods to Kampala Traders due to damaged packaging
and near expiry. (Credit Note No. 234)
 Returned 10 bags of cement to Kiwatule Traders because they were wet and
hardened, making them unusable. (Credit Note No. 456)
7th January 2010
 Bought general merchandise for cash worth Ugx 300,000 to restock urgent fast-
moving goods.
8th January 2010
 Sold 12 cartons of fancy goods to Katwe Traders at Ugx 120,000 each, less 5%
trade discount. (Invoice No. 1235)
 Sold 40 bags of cement to Kasubi Provision Store at Ugx 24,000 each, less 10%
trade discount. (Invoice No. 1236)

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8th January 2010.
 Sold assorted goods for cash worth Ugx 350,000.
9th January 2010
 Kasubi Provision Store returned 6 bags of cement, claiming they were torn and
spilling during delivery. (Credit Note No. 2346)
Tasks:
i) appropriate journals to:
a) Record all credit purchases with proper calculation of trade discounts.
b) Record goods returned to suppliers, clearly stating reasons and credit note details.
c) Enter all credit sales, applying trade discounts accurately
d) Record goods returned by customers, including appropriate reasons and credit
notes.
Note
Ensure accurate use of dates, invoice/credit note numbers, and trade discount
calculations.
Post the transactions to the following ledgers:
a) Purchases Ledger
b) Sales Ledger:
c) General Ledger:
d) Prepare trial balance as at that date.

END
DON’T MISS
“A” LEVEL ENTREPRENEURSHIP AND ECONOMICS SEMINAR ON 4TH OCT
2025

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