Module Title: Financial Accounting 2
|
|
- Joshua Sims
- 5 years ago
- Views:
Transcription
1 CORK INSTITUTE OF TECHNOLOGY INSTITIÚID TEICNEOLÍOCHT CHORCÍ Semester 2 Examinations 2007/08 Module Title: Financial ccounting 2 Module Code: CCT 6009 School: School of usiness Programme Title: achelor of usiness Year 1 Higher Certificate in usiness Year 1 Higher Certificate in usiness (EOD) Year 1 Programme Code: USS_7_Y1 USE_7_Y1 US_6_Y1 External Examiner(s): Internal Examiner(s): Ms. M. Duggan Mr. G. Forde, Ms. Twomey, Mr. P. Quigley, Mr.. McGrath, Ms. C. Twohig Instructions: nswer Question 1 and TWO other questions. Please indicate your class group and lecturer s name on your examination answer book. Duration: 2 HOURS Sitting: Summer 2008 Requirements for this examination: Note to Candidates: Please check the Programme Title and the Module Title to ensure that you have received the correct examination paper. If in doubt please contact an Invigilator. Page 1 of 9 CCT6009
2 Q1. This question consists of 15 parts. Required: Indicate in your examination answer book the correct answer to each of the following multiple choice questions. Each correct answer receives two marks: Please present your answer in the following format: Question (16) Question (17) (Total 30 Marks) (1) The purchase of a delivery van had been debited to the purchases account instead of the machinery account. The above error is best described as an error of: C D Principle Original error Omission Commission (2) What should happen at the year end if the balance on the suspense account is a material amount? C D The balance should be written off to the profit and loss account The balance should be carried forward to the next accounting period The balance should be ignored The error(s) should be located Page 2 of 9 CCT6009
3 (3) The discount received account had been undercast by 300. Which of the following is the correct journal entry to correct the error? Debit Credit Discount received Suspense Suspense Discount received C Discount allowed Discount received D Discount received Discount allowed (4) fter the preparation of the profit and loss account it is discovered that the purchases day book has been overcast by 300 s result of the above error net profit was: Overstated by 300 Overstated by 600 C Understated by 300 D Understated by 600 (5) sole trader who does not maintain complete accounting records, provides the following information for the year ended 31 December 2007: Capital at beginning of year 200,000 Drawings 25,000 Capital at end of year 250,000 What is the net profit for the year ended 31 December 2007? 50,000 25,000 C 75,000 D 250,000 Page 3 of 9 CCT6009
4 (6) Where in a control account would you find returns inwards? C D The debit side of the sales ledger control account The credit side of the sales ledger control account The debit side of the purchases ledger control account The credit side of the purchases ledger control account (7) Which of the following corrections is revealed by the journal entry? Dr Suspense 300 Cr Discount allowed 300 Discount received account had been overcast by 300 Discount received account had been undercast by 300 C Discount allowed account had been overcast by 300 D Discount allowed account had been undercast by 300 (8) Which of the following is correct? C D ank charges are normally classified as an expense ank charges are normally classified as an asset ank charges are normally classified as a liability ank charges are normally classified as a revenue (9) When doing a bank reconciliation which of the following does not require a correction to the cash book balance? 1. ank charges 2. Credit transfers received by bank 3. Standing orders paid by bank 4. Unpresented cheques 1 2 C 3 D 4 Page 4 of 9 CCT6009
5 (10) comparison of the bank statement with the cash book revealed the following: credit transfer receipt of 800 Unpresented cheques 1,600 Outstanding lodgements 1,200 If the balance shown by the bank statement is 15,400 what is the corrected cash book balance? 14,200 15,000 C 15,800 D 16,200 (11) cheque received from a debtor had been entered in the bank account only. Which of the following is the journal entry to correct the error? Debit Credit Suspense Debtors Debtors Suspense C ank Suspense D ank Debtors (12) t 1 January 2007 a business owed its suppliers 32,000. During the year the business paid suppliers 220,000 and at 31 December 2007 owed suppliers 38,000. What is the figure for purchases for the year ended 31 December 2007? 214, ,000 C 226,000 D 258,000 Page 5 of 9 CCT6009
6 (13) The following information relates to the year ended 31 December 2007 Opening inventory 20,000 Closing inventory 30,000 Sales 300,000 If gross profit on all goods sold was 20%, what is the figure for cost of sales for the year ended 31 December 2007? 240, ,000 C 250,000 D 237,500 (14) If sales are 200,000 and the mark up is 25%, what is gross profit? 150, ,000 C 50,000 D 40,000 (15) business purchases goods for 30,000 plus VT at 20%. What entry should be made in the VT account? 5,000 Debit 5,000 Credit C 6,000 Debit D 6,000 Credit (Total 30 marks) Page 6 of 9 CCT6009
7 Q2. CLOGHRU CMOGIE CLU RECEIPTS ND PYMENTS CCOUNT FOR THE YER ENDED 31 ST DECEMER 2007 alance b/d 42,400 Expenses of dance 18,800 Subscriptions received 118,200 Repairs 4,400 Sale of dance tickets 14,600 Printing and stationery 6,200 ar takings 82,200 New roller 17,400 Heat and light 6,400 ar costs 60,400 alance c/d 143, , ,400 The following information is also relevant. In arrears In advance (a) Subscriptions at ,000 7,400 Subscriptions at ,200 4,400 (b) Invoices for printing unpaid t 31 st December ,200 (c) Purchased (but not yet paid for) new goals nets 56,000 (d) ssets at : Fixtures and fittings 174,000 Equipment 60,000 (e) Depreciation on assets is to be provided at 15% Required: (a) Calculate the ccumulated Fund at 1 January 2007 (b) Prepare the Subscriptions ccount for the year ended 31 December 2007 (c) Prepare the Income and Expenditure ccount and a alance sheet as at 31 December Total 35 marks Page 7 of 9 CCT6009
8 Q3. The financial year of C ended on 31 st December You have been asked to prepare a Sales Ledger Control ccount and a Purchases Ledger Control ccount in order to produce end-of-year figures for Debtors and Creditors for the draft final accounts. You are able to obtain the following information for the year ended 31 st December 2007, form the books of original entry. Sales - cash 342,000 - credit 570,000 Purchases - cash 29,850 - credit 694,500 Total receipts from customers 910,870 Total payments to suppliers 728,950 Discounts allowed (all to credit customers) 6,740 Discounts received (all from credit suppliers) 4,190 Refunds given to cash customers 450 alance in the sales ledger set off against balance in the purchases ledger 850 ad debts written off 1,890 Increase in the provision for bad debts 1,040 Credit notes issued to credit customers 2,880 Credit notes received from credit suppliers 3,160 Dishonoured cheques 1,120 ccording to the financial statements for the previous year, Debtors and Creditors as at 1 st January 2007 were 86,000 and 94,000 respectively. Required: Prepare the Sales Ledger Control ccount and the Purchases Ledger Control ccount for the year ended 31 st December 2007 (35 marks) Page 8 of 9 CCT6009
9 Q4. You are presented with the summarised final accounts of J. Lamb for the years 2006 and Profit and Loss ccounts Extracts Sales Less Cost of sales Opening stock Purchases Less Closing stock (100) (150) Gross profit Less Expenses (200) (300) Net Profit alance sheets as at: 31 December December Fixed assets at cost 1,000 1,000 Current assets Stock Debtors ank Less current liabilities Creditors ,140 1,340 Financed by Capital at beginning of year 870 1,140 dd Net profit ,190 1,490 Less drawings ,140 1,340 Required Calculate and comment on the following ratios for years 2006 and 2007 (i) Current ratio (ii) cid test ratio (iii) Gross profit percentage (iv) Net profit percentage (v) Debtors collection period (vi) Creditors payment period (vii) Return on capital employed (35 marks) Page 9 of 9 CCT6009
BSc (Hons) Tourism and Hospitality Management. Cohort: BTHM/12B/FT Year 1. Examinations for 2012/2013 Semester I. & 2012 Semester II
BSc (Hons) Tourism and Hospitality Management Cohort: BTHM/12B/FT Year 1 Examinations for 2012/2013 Semester I & 2012 Semester II MODULE: FINANCIAL ACCOUNTING MODULE CODE: ACCF 1102A Duration: 2 Hours
More informationChapter 5. Control Accounts. Notes to teachers
Chapter 5 Control Accounts Notes to teachers 1 Start with Chapters 3 and 4 of Frank Wood s Introduction to Accounting and briefly explain to students the basic principles of recording in the books and
More informationPANCHAKSHARI S PROFESSIONAL ACADEMY PVT LTD (Your Lifelong Knowledge Partner )
50 Questions 50 Marks 60 Minutes Rectification of Error Select the best choice to answer the following questions: 1. Which of the following statement is/are correct? (i) A separate suspense account should
More informationSCHOOL OF ACCOUNTING AND BUSINESS BSc. (APPLIED ACCOUNTING) GENERAL / SPECIAL DEGREE PROGRAMME
All Rights Reserved No. of Pages - 12 No of Questions - 06 SCHOOL OF ACCOUNTING AND BUSINESS BSc. (APPLIED ACCOUNTING) GENERAL / SPECIAL DEGREE PROGRAMME YEAR I SEMESTER I (INTAKE VI GROUP B) END SEMESTER
More informationPrepare the necessary journal entries to correct the above. Narrations are not required.
Correction of errors HKDSE (2017, 5) (Correction of errors) ABC Limited drafted a trial balance as at 31 December 2016, before the preparation of the closing entries. As the trial balance did not agree,
More informationChapter 5 Extra review questions
Accounting for Non-Accountants 10th Online Material 1 Chapter 5 Extra review questions 1 Enter up the entries needed in the journal to correct the following errors. Narratives are not required: (a) Advertising
More informationFINANCIAL ACCOUNTING II
Question 1 You have been asked to sort out the accounts of a client - Mr Soh, a trader. You collect the following information in respect of the year ended 31st December 2006: Assets and Liabilities at
More informationPaper F3 (INT) Financial Accounting (International) Fundamentals Pilot Paper Knowledge module. The Association of Chartered Certified Accountants
Fundamentals Pilot Paper Knowledge module Financial ccounting (International) Time allowed: 2 hours LL FIFTY questions are compulsory and MUST be attempted. Paper F3 (INT) o NOT open this paper until instructed
More informationFinancial Accounting. Sample Paper / 2018 Questions & Suggested Solutions
Financial Accounting Sample Paper 2 2017 / 2018 Questions & Suggested Solutions NOTES TO USERS ABOUT SAMPLE PAPERS Sample papers are published by Accounting Technicians Ireland. They are intended to provide
More informationS.5 BUSINESS, ACCOUNTING AND FINANCIAL STUDIES Accounting Module
FANLING LUTHERAN SECONDARY SCHOOL 2015 2016 FIRST TERM EXAM S.5 BUSINESS, ACCOUNTING AND FINANCIAL STUDIES Accounting Module Date : 19th January, 2016 Time allowed: 8:30 am - 10:45 am (2 hour 15 minutes)
More information8 Self-Balancing Ledgers
8 Self-Balancing Ledgers BASIC CONCEPTS System Ledger keeping of Self Balancing Ledger System implies a system of ledger keeping which classifies ledgers as per nature of transactions. In this system,
More information*2930524558* UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education Ordinary Level PRINIPLES OF OUNTS 7110/01 Paper 1 Multiple hoice October/November 2010 dditional Materials: Multiple
More informationICAN MID DIET LIVE CLASS FOR MAY DIET 2015 FINANCIAL ACCOUNTING Introduction to financial accounting Recording non-current assets and depreciation
ICAN MID DIET LIVE CLASS FOR MAY DIET 2015 FINANCIAL ACCOUNTING Introduction to financial accounting Recording non-current assets and depreciation Compiling financial statement Compiling financial statement
More informationExecutive Level. Financial Accounting & Reporting Fundamentals. (3) Section 1(a): 10 multiple choice questions (MCQs) all questions are compulsory.
Copyright Reserved No. of pages: 14 Executive Level Financial Accounting & Reporting Fundamentals Instructions to candidates (1) Time allowed: Reading and planning 15 minutes Writing 3 hours (2) Total:
More informationOsborne Books Tutor Zone. Bookkeeping Controls. Answers to chapter activities
Osborne Books Tutor Zone Bookkeeping Controls Answers to chapter activities Osborne Books Limited, 2016 2 b o o k k e e p i n g c o n t r o l s t u t o r z o n e 1 Payment methods 1.1 (a) A standing order
More informationFor other subjects, go to
MAY/JUNE 2006 FINANCIAL ACCOUNTING 1. Explain briefly the following terms i. Bank statement ii. Bank reconciliation statement iii. Uncredited cheques iv. Unpresented cheques v. Dishonoured cheques. Answers:
More informationWhat will be the effect of this adjustment on the financial statements?
CIS FIACIAL ACCOUTIG 2.1 COTACT UMBER 08038400843 COTACT HOURS TUESDAYS AD FRIDAY 6PM 7PM. QUESTIO WEEK 3- Bad debts &Provision for doubtful debt VIDEO LECTURE CHAPTER: 5 MULTIPLE CHOICE QUESTIOS 1 A business
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Ordinary Level
*6909629618* UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education Ordinary Level PRINIPLES OF OUNTS 7110/01 Paper 1 Multiple hoice October/November 2007 dditional Materials: Multiple
More informationFoundation Access Course for Undergraduate Programmes. Examinations for / Semester 1
Foundation Access Course for Undergraduate Programmes Cohort: FACUP/09/FT Examinations for 2009 2010 / Semester 1 MODULE: FOUNDATION IN ACCOUNTING I MODULE CODE: ACCF Duration: 2 1 2 Hours Reading time:
More informationAccounting Technicians Ireland First Year Examination: May 2017 Paper: FINANCIAL ACCOUNTING Tuesday 9 May a.m. to p.m.
Accounting Technicians Ireland First Year Examination: May 2017 Paper: FINANCIAL ACCOUNTING Tuesday 9 May 2017 9.30 a.m. to 12.30 p.m. INSTRUCTIONS TO CANDIDATES PLEASE READ CAREFULLY Candidates must indicate
More informationFANLING LUTHERAN SECONDARY SCHOOL
FANLING LUTHERAN SECONDARY SCHOOL 2012 2013 2 nd Term Examination S.5 BUSINESS, ACCOUNTING AND FINANCIAL STUDIES Accounting Module Date : 20th June, 2013 Time allowed: 8:30 am - 11:00 am (2 hour 30 minutes)
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education ACCOUNTING
UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS International General ertificate of Secondary Education OUNTING 0452/01 www.xtremepapers.com Paper 1 Multiple hoice May/June 2006 dditional Materials: Multiple
More informationPaper F3 (INT) Financial Accounting. June 2010 ACCA FINAL ASSESSMENT. Kaplan Publishing/Kaplan Financial
ACCA FINAL ASSESSMENT Financial Accounting June 2010 Time allowed: 2 hours All FIFTY questions are compulsory and MUST be attempted. Do NOT open this paper until instructed by the supervisor. This question
More informationNABTEB Past Questions and Answers - Uploaded online
QUESTION 1 NATIONAL BUSINESS AND TECHNICAL EXAMINATION BOARD NBC MAY/JUNE 2005 FINANCIAL ACCOUNTING (a) Differentiate between preference shares and ordinary shares of a company. (b) Explain the following
More informationCOMSATS Institute of Information Technology Abbottabad
COMSATS Institute of Information Technology Abbottabad Department of Management Sciences Terminal Section A Class: Date: Subject: Accounting Instructor: Zaheer A. Swati Time Allowed: 30 Minutes Max Marks:
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Ordinary Level PRINCIPLES OF ACCOUNTS
UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education Ordinary Level PRINIPLES OF OUNTS 7110/01 www.xtremepapers.com Paper 1 Multiple hoice October/November 2006 dditional Materials:
More informationALLAMA IQBAL OPEN UNIVERSITY, ISLAMABAD (Department of Commerce) PRINCIPLES OF ACCOUNTING (438) CHECK LIST SEMESTER: AUTUMN, 2012
ALLAMA IQBAL OPEN UNIVERSITY, ISLAMABAD (Department of Commerce) PRINCIPLES OF ACCOUNTING (438) CHECK LIST SEMESTER: AUTUMN, 2012 This packet comprises following material:- 1. Text book (one) 2. Assignment
More informationTHIS IS A NEW SPECIFICATION
THIS IS A NEW SPECIFICATION ADVANCED SUBSIDIARY GCE ACCOUNTING Accounting Applications RESOURCE BOOKLET To be given to candidates at the start of the examination F012/RB Friday 21 May 2010 Morning Duration:
More informationWednesday 22 May 2013 Afternoon
Wednesday 22 May 2013 Afternoon AS GCE ACCOUNTING F012/01/RB Accounting Applications RESOURCE BOOKLET *F027120613* To be given to candidates at the start of the examination Duration: 2 hours INSTRUCTIONS
More informationSoft clean eraser Soft pencil (type B or HB is recommended)
*7951402153* ambridge International Examinations ambridge Ordinary Level PRINIPLES OF OUNTS 7110/11 Paper 1 Multiple hoice May/June 2016 dditional Materials: Multiple hoice nswer Sheet Soft clean eraser
More informationTHE PUBLIC ACCOUNTANTS EXAMINATION COUNCIL OF MALAWI 2013 EXAMINATIONS FOUNDATION STAGE PAPER 1: ACCOUNTING FRAMEWORK
EXAMINATION NO. THE PUBLIC ACCOUNTANTS EXAMINATION COUNCIL OF MALAWI 2013 EXAMINATIONS FOUNDATION STAGE PAPER 1: ACCOUNTING FRAMEWOR MONDAY 2 DECEMBER 2013 TIME ALLOWED : 3 HOURS 9.00 AM - 12.00 NOON INSTRUCTIONS:
More informationCambridge International Examinations Cambridge International General Certificate of Secondary Education
*8375935637* Cambridge International Examinations Cambridge International General Certificate of Secondary Education ACCOUNTING 0452/11 Paper 1 October/November 2015 Candidates answer on the Question Paper.
More informationXI ACCOUNTING REGULAR / PRIVATE. S.Hussain
The workings under the heading of Additional Working are not required according to the requirement of the examiner. These are only for understanding the solutions. For more help, visit www.a4accounting.net
More informationPRINCIPLES OF ACCOUNTS 7110/2
Centre Number Candidate Number Candidate Name CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Ordinary Level PRINCIPLES OF ACCOUNTS 7110/2 PAPER 2 MAY/JUNE SESSION 2002 1 hour 45
More information(50) BASIC ACCOUNTING
All Rights Reserved Time: 03 hours THE ASSOCIATION OF ACCOUNTING TECHNICIANS OF SRI LANKA Instructions to candidates FOUNDATION EXAMINATION - JANUARY 2015 (50) BASIC ACCOUNTING (1) This paper consists
More informationINTI COLLEGE MALAYSIA CAMBRIDGE A - LEVEL PROGRAMME ACC111 : ACCOUNTING 1 SEMESTER EXAMINATION : APRIL 2003 SESSION
111 / Page 1 of 11 INTI OLLEGE MLYSI MRIGE - LEVEL PROGRMME 111 : OUNTING 1 SEMESTER EXMINTION : PRIL 2003 SESSION Section (nswer all questions on the OMR sheets) Select the best answer for each question.
More informationAn error is an irregularity in the accounting records that renders the financial statements not valid.
QUESTION 1 (a) An error is an irregularity in the accounting records that renders the financial statements not valid. i. List five (5) accounting errors that do not affect the agreement of the trial balance.
More informationPrinciples of Accounts. Comprehensive Worksheet. Class 9. 2 nd Term
Principles of Accounts Comprehensive Worksheet Class 9 2 nd Term The City School / PAF Chapter/ Comprehensive Worksheet/May 2018/ Accounts Class 9 Page 1 of 8 Topics for 2 nd Term 1. Statement of profit
More informationFEEDBACK TUTORIAL LETTER
FEEDBACK TUTORIAL LETTER 1 st SEMESTER 2017 ASSIGNMENT 1 1 ASSIGNMENT 1 2017 FEEDBACK TUTORIAL LETTER. Dear Student Thank you for your effort and submitting this assignment on time. I have completed marking
More informationDiploma in Financial Management - (Rodrigues) RESIT/SPECIAL Examinations for 2010 Semester II
Diploma in Financial Management - (Rodrigues) Cohort: DFM/10/FT RESIT/SPECIAL Examinations for 2010 Semester II MODULE: MANAGEMENT ACCOUNTING FOR DECISION MAKING MODULE CODE: ACCF2118 Duration: 2 Hours
More informationTRIAL BALANCE. Samir K Mahajan
TRIAL BALANCE Samir K Mahajan TRIAL BALANCE: MEANING AND METHOD Trial balance is a statement which shows debit balances and credit balances of all accounts in the ledger. Since, every debit should have
More informationCambridge International Examinations Cambridge International General Certificate of Secondary Education *1892474362* ACCOUNTING 0452/21 Paper 2 May/June 2016 Candidates answer on the Question Paper. No
More informationCAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education
www.xtremepapers.com Centre Number Candidate Number Name CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education ACCOUNTING 0452/03 Paper 3 Candidates answer on the
More informationO & A Level Accounting Online Lectures By Waseem Hassan Gul
O & Level ccounting Online Lectures y Waseem Hassan Gul whg4gul@gmail.com : (For E. Mail & Text hat) whg4gul : (Skype: Voice all) 0092-333-4374592 : (Voice all) http://whg.awardspace.com : (For Notes &
More informationTHE TRIAL BALANCE AND THE CORRECTION OF ERRORS
CHAPTER 22 THE TRIAL BALANCE AND THE CORRECTION OF ERRORS Question 1 Error Type of error 1 An invoice received from a supplier for $657 was recorded in the purchases day book as being for $567 Error of
More informationSIR MICHELANGELO REFALO
SIR MICHELANGELO REFALO SIXTH FORM Half-Yearly Exam 2015 Subject: ACCOUNTING ADV 1 st Time: 3 hrs Section A Answer all the questions in this section 1. Some clubs operate life membership schemes. (a) How
More informationSoft clean eraser Soft pencil (type B or HB is recommended)
*5614158211* Cambridge International Examinations Cambridge Ordinary Level PRINCIPLES OF ACCOUNTS 7110/11 Paper 1 Multiple Choice May/June 2015 Additional Materials: Multiple Choice Answer Sheet Soft clean
More informationCambridge International Examinations Cambridge International General Certificate of Secondary Education
*7159834754* Cambridge International Examinations Cambridge International General Certificate of Secondary Education ACCOUNTING 0452/11 Paper 1 May/June 2014 Candidates answer on the Question Paper. No
More informationMULTIPLE CHOICE QUESTIONS CHAPTERS 6 10
MULTIPLE CHOICE QUESTIONS CHAPTERS 6 10 CHAPTER 6 1. Each T account contains the exact amount owing to a supplier (A) Sales ledger (B) Purchases ledger (C) General ledger (D) Cash book 2. The Trial balance
More information(c) Debtor overpaid the amount owed. Debtor paid his account and later returned goods.
1 David Odoyo maintains a full set of books of account. He prepares a purchases ledger control account and a sales ledger control account at the end of every month. (a) State two advantages of control
More informationAccounting *P44292A0120* P44292A. Paper 1. Pearson Edexcel International GCSE. Friday 8 May 2015 Morning Time: 2 hours 30 minutes.
Write your name here Surname Other names Pearson Edexcel International GCSE Accounting Paper 1 Centre Number Candidate Number Friday 8 May 2015 Morning Time: 2 hours 30 minutes You do not need any other
More informationCoimisiún na Scrúduithe Stáit State Examinations Commission
Coimisiún na Scrúduithe Stáit State Examinations Commission M. 54 LEAVING CERTIFICATE EXAMINATION, 2003 A C C O U N T I N G - O R D I N A R Y L E V E L (400 marks) THURSDAY, 12th JUNE 2003 MORNING 9.30
More informationACCAPAPER F3 FINANCIAL ACCOUNTING WEEK FOUR TOPIC PART REVIEW QUESTIONS
ACCAPAPER F3 FINANCIAL ACCOUNTING WEEK FOUR TOPIC PART REVIEW QUESTIONS 1.The following control account has been prepared by a trainee accountant: Opening balance 308,600 Cash received from credit customers
More informationSoft clean eraser Soft pencil (type B or HB is recommended)
*7820835765* ambridge International Examinations ambridge Ordinary Level PRINIPLES OF OUNTS 7110/12 Paper 1 Multiple hoice October/November 2014 dditional Materials: Multiple hoice nswer Sheet Soft clean
More information0452 ACCOUNTING. 0452/22 Paper 2, maximum raw mark 120
CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education MARK SCHEME for the May/June series 0452 ACCOUNTING 0452/22 Paper 2, maximum raw mark 120 This mark scheme
More information*P45581A0124* 4AC0/01. P45581A 2016 Pearson Education Ltd. Pearson Edexcel International GCSE Accounting Paper 1
Write your name here Surname Other names Pearson Edexcel International GCSE Accounting Paper 1 Centre Number Candidate Number Friday 13 May 2016 Morning Time: 2 hours 30 minutes You do not need any other
More informationRequired: Draw up a three-column cash book to record the above transactions and balance off the cash book at the end of the month.
Chapter 1 Books of original entry and ledgers (I) Mary Company had the following transactions during the month November 2014: Nov 3 Credit purchases from: Hilary Lam $13,580, Tammy Yiu $55,500. 5 Credit
More informationBSc.(Hons) Banking and International Finance, BSc.(Hons) Tourism and Hospitality Management, Diploma in Public Administration and Management
BSc.(Hons) Banking and International Finance, BSc.(Hons) Tourism and Hospitality Management, Diploma in Public Administration and Management & BSc.(Hons) Public Administration and Management Cohort: BBIF/04/FT/PT
More informationCHAPTER 6 FINAL ACCOUNTS WITH ADJUSTMENTS
CHAPTER 6 FINAL ACCOUNTS WITH ADJUSTMENTS Suppose, the firm closes its books on 31st March and rent for the month of March has not been paid, this expense "rent" has been incurred and yet to be paid. Therefore,
More informationPAPER 1 Multiple Choice MAY/JUNE SESSION hour
MRIGE INTERNTIONL EXMINTIONS General ertificate of Education dvanced Subsidiary Level and dvanced Level OUNTING 9706/1 PPER 1 Multiple hoice MY/JUNE SESSION 2002 1 hour dditional materials: Multiple hoice
More informationCambridge International Examinations Cambridge International General Certificate of Secondary Education
Cambridge International Examinations Cambridge International General Certificate of Secondary Education *4718451722* ACCOUNTING 0452/12 Paper 1 May/June 2017 Candidates answer on the Question Paper. No
More informationMARK SCHEME for the May/June 2012 question paper for the guidance of teachers 0452 ACCOUNTING. 0452/11 Paper 1, maximum raw mark 120
UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education MARK SCHEME for the May/June 2012 question paper for the guidance of teachers 0452 ACCOUNTING
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Advanced Subsidiary Level and Advanced Level ACCOUNTING
UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education dvanced Subsidiary Level and dvanced Level OUNTING 9706/01 Paper 1 Multiple hoice October/November 2004 dditional Materials: Multiple
More information7110 PRINCIPLES OF ACCOUNTS
CAMBRIDGE INTERNATIONAL EXAMINATIONS GCE Ordinary Level MARK SCHEME for the May/June 2014 series 7110 PRINCIPLES OF ACCOUNTS 7110/22 Paper 2 (Structured), maximum raw mark 120 This mark scheme is published
More informationBank Reconciliation Statements
Chapter 4 Bank Reconciliation Statements Notes to teachers 1 Start with Chapter 4 of Frank Wood s Introduction to Accounting and briefly explain to students the basic principles of recording in the cash
More informationJune 2014 Examination Question Paper
June 2014 Examination Question Paper 321 Exam ID Question Paper for the following Qualifications: 300: Level 3 Certificate in Bookkeeping QCF: 50084793 320: Level 3 Certificate in Manual Bookkeeping QCF:
More informationProfit (P) = Increase or Decrease in Net Assets (I) + Drawings (D) Capital (C) Income Expense = Profit / (Loss) Asset = Liability Capital
Rule of Double Entry Assets Liability Capital Expense Income DEBIT CREDIT Increase Decrease Accounting Equation Asset = Capital + Liability Capital = Asset Liability = NET ASSETS Business Equation Profit
More informationPaper-5 : FINANCIAL ACCOUNTING
Paper-5 : FINANCIAL ACCOUNTING Study Note 1: Accounting Process 1. (a) The following errors were discovered in the books of a trader for the year ended December 31, 2014: (i) The total of the Purchase
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Advanced Subsidiary Level and Advanced Level
*7357873699* UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education dvanced Subsidiary Level and dvanced Level OUNTING 9706/11 Paper 1 Multiple hoice May/June 2013 dditional Materials:
More informationAccounting Technician Examinations. Pilot Examination Paper. Level I. Paper 1 Financial Accounting. Questions Suggested Answers and Marking Scheme
香港專業會計員 會 THE HONG KONG ASSOCIATION OF ACCOUNTING TECHNICIANS (Incorporated with Limited Liability) Unit A, 17/F, Fortis Bank Tower, 77-79 Gloucester Road, Wanchai, Hong Kong. Accounting Technician Examinations
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Advanced Subsidiary Level and Advanced Level ACCOUNTING
UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education dvanced Subsidiary Level and dvanced Level OUNTING 9706/01 Paper 1 Multiple hoice May/June 2006 dditional Materials: Multiple
More informationACCOUNTING 7707/01. Paper 1 Multiple Choice For examination from 2020
ambridge O Level OUNTING 7707/01 Paper 1 Multiple hoice For examination from 2020 SPEIMEN PPER 1 hour 15 minutes You must answer on the multiple choice answer sheet. *0123456789* You will need: Multiple
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Advanced Subsidiary Level and Advanced Level ACCOUNTING
UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education dvanced Subsidiary Level and dvanced Level OUNTING 9706/01 Paper 1 Multiple hoice May/June 2005 dditional Materials: Multiple
More informationFoundation Level Pilot Paper. Financial Accounting Fundamentals (FAF / FL 2-102)
Copyright Reserved Serial No Institute of Certified Management Accountants of Sri Lanka Foundation Level Pilot Paper Instructions to Candidates 1. Time allowed is two (2) hours. 2. Total: 100 Marks. 3.
More information1 st Year Examination : Summer FINANCIAL ACCOUNTING l NEW SYLLABUS. PAPER, SOLUTIONS and EXAMINERS REPORT
1 st Year Examination : Summer 2009 FINANCIAL ACCOUNTING l NEW SYLLABUS PAPER, SOLUTIONS and EXAMINERS REPORT NOTES TO USERS ABOUT THESE SOLUTIONS The solutions in this document are published by Accounting
More informationKULLEĠĠ SAN BENEDITTU Secondary School, Kirkop HALF YEARLY EXAMINATION 2015/2016. Question A B C D Global Mark. Max. Mark
KULLEĠĠ SAN BENEDITTU Secondary School, Kirkop Mark HALF YEARLY EXAMINATION 2015/2016 FORM 4 ACCOUNTING TIME: 1h 30min Question A B C D Global Mark Max. Mark 10 14 40 36 100 Mark Instructions to students:
More informationTHE INDIAN COMMUNITY SCHOOL, KUWAIT
THE INDIAN COMMUNITY SCHOOL, KUWAIT SERIES : II MTE / FN/2017-2018 CODE : M 055 TIME ALLOWED : 2 HOURS NAME OF STUDENT : MAX. MARKS : 50 ROLL NO. :.. CLASS/SEC :.. NO. OF PAGES : 5 ACCOUNTANCY ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
More informationDate of Homework assigned: 7 Apr 2014 Due date: 16 Apr 2014 Exercise book: Book 1
2013-2014 / F.4 BAFS / HA11 / P.1 TWGHs Wong Fut Nam College Form 4 Business, Accounting and Financial Studies Homework Assignment 11 FA Ch1-3 Preparation of Financial Statements for Sole Proprietorships
More informationThis document consists of 9 printed pages.
Cambridge International Examinations Cambridge Ordinary Level PRINCIPLES OF ACCOUNTS 7110/21 Paper 2 MARK SCHEME Maximum Mark: 120 Published This mark scheme is published as an aid to teachers and candidates,
More informationMARK SCHEME for the October/November 2013 series 0452 ACCOUNTING. 0452/22 Paper 2, maximum raw mark 120
CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education MARK SCHEME for the October/November 2013 series 0452 ACCOUNTING 0452/22 Paper 2, maximum raw mark 120 This
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Advanced Subsidiary Level and Advanced Level ACCOUNTING
UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education dvanced Subsidiary Level and dvanced Level OUNTING 9706/01 Paper 1 Multiple hoice May/June 2004 dditional Materials: Multiple
More informationFriday 15 May 2015 Afternoon
Oxford Cambridge and RSA Friday 15 May 2015 Afternoon AS GCE ACCOUNTING F012/01/RB Accounting Applications RESOURCE BOOKLET *1141294926* To be given to candidates at the start of the examination Duration:
More informationMARK SCHEME for the May/June 2007 question paper 0452 ACCOUNTING
UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education MARK SCHEME for the May/June question paper 0452 ACCOUNTING 0452/02 Paper 2, maximum raw mark
More informationAccredited Accounting Technician Examination. Paper 1 Fundamentals of Accounting and Computerized Accounts
Accredited Accounting Technician Examination Pilot Examination Paper Paper 1 Fundamentals of Accounting and Computerized Accounts Questions & Answers Booklet The Suggested Answers given in this booklet
More informationINTERMEDIATE EXAMINATION GROUP - I (SYLLABUS 2016)
INTERMEDIATE EXAMINATION GROUP - I (SYLLABUS 2016) SUGGESTED ANSWERS TO QUESTIONS JUNE - 2017 Paper - 5 : FINANCIAL ACCOUNTING Time Allowed : 3 Hours Full Marks : 100 The figures in the margin on the right
More informationCHAPTER 6 FINAL ACCOUNTS WITH ADJUSTMENTS
CHAPTER 6 FINAL ACCOUNTS WITH ADJUSTMENTS When a person starts a business he wishes to know the financial performance of his business. A convenient and universally accepted method of knowing this is to
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education
*9069352699* UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education ACCOUNTING 0452/11 Paper 1 October/November 2013 Candidates answer on the Question
More informationNOVEMBER 2016 PROFESSIONAL EXAMINATION FINANCIAL ACCOUNTING (PAPER 1.1) CHIEF EXAMINER S REPORT, QUESTIONS AND MARKING SCHEME
NOVEMBER 2016 PROFESSIONAL EXAMINATION FINANCIAL ACCOUNTING (PAPER 1.1) CHIEF EXAMINER S REPORT, QUESTIONS AND MARKING SCHEME GENERAL COMMENTS The standard of the question paper was good and candidates
More informationAnswer the ONE question in section A (this has 25 sub-questions and is on pages 2 8).
Foundation Level Financial ccounting Fundamentals 1 FFN 21 November 2001 ay 3 morning INSTRUTIONS TO NITES Read this page before you look at the questions You are allowed three hours to answer this question
More informationXI - ACCOUNTING REGULAR / PRIVATE
The workings under the heading of Additional Working are not required according to the requirement of the examiner. These are only for understanding the solutions. For more help, visit www.a4accounting.net
More informationMTP_Intermediate_Syllabus 2016_June2019_Set1 Paper 5- Financial Accounting
Paper 5- Financial Accounting Dos, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 Paper 5- Financial Accounting Full Marks : 100 Time allowed: 3 hours Section
More informationNet Profit Add: interest on drawings: Jane x Allen x 5
ACCOUNTING ORDINARY LEVEL GRADE 12 1 1. Jane and Allen are in partnership. Their partnership agreement provides that 1. Interest on capital is allowed at 10% per annum. 2. Interest on drawings is charged
More informationPRINCIPLES OF ACCOUNTS
PRINCIPLES OF ACCOUNTS Paper 7110/11 Multiple Choice Question Number Key Question Number Key 1 B 16 B 2 D 17 C 3 B 18 B 4 A 19 A 5 D 20 D 6 A 21 C 7 C 22 A 8 D 23 D 9 A 24 B 10 C 25 C 11 C 26 C 12 B 27
More informationSubsidiary Ledgers & Control Accounts. F. M. Kapepiso
Subsidiary Ledgers & Control Accounts F. M. Kapepiso The accounting cycle Transaction Source document Journal LEDGER Control a/cs Trial balance Financial statements Learning objectives At the end of the
More informationSUGGESTED ANSWERS SPRING 2015 EXAMINATIONS 1 of 5 FUNDAMENTALS OF FINANCIAL ACCOUNTING SEMESTER-1
SUGGESTED ANSWERS SPRING 25 EXAMINATIONS 1 of 5 Q. 2 (a) Akber (Private) Limited Statement of Profit or Loss for the year ended June 30, 25 1.5 Rs. 000 Sales (30,725 225) 30,500 + Opening inventory 900
More informationAccounting Technicians Ireland First Year Examination: August 2017 Paper: FINANCIAL ACCOUNTING Tuesday 15 August a.m. to p.m.
Accounting Technicians Ireland First Year Examination: August 2017 Paper: FINANCIAL ACCOUNTING Tuesday 15 August 2017 9.30 a.m. to 12.30 p.m. INSTRUCTIONS TO CANDIDATES PLEASE READ CAREFULLY Candidates
More information9. SELF BALANCING LEDGERS
9. SELF BALANCING LEDGERS SOLUTIONS TO ASSIGNMENT PROBLEMS PROBLEM NO.1 In the Debtors Ledger General Ledger Adjustment Account Cr. Particulars 2011 Particulars Debtors Ledger Adjustment Account Returns
More informationCOMSATS INSTITUTE OF INFORMATION TECHNOLOGY, ABBOTTABAD
COMSATS INSTITUTE OF INFORMATION TECHNOLOGY, ABBOTTABAD Registration # Signature Quiz # 2 and 3 Financial MBA 1(3.5) Instructions: 1. Borrowing of Calculator, Ruler etc. is not allowed 2. Switch off Mobile
More informationFINANCIAL ACCOUNTING FUNDAMENTALS. A date is then fixed for the commencement of the standard which date is often stated in the standard itself.
SOLUTION 1 a. Process of Developing Accounting Standards Identification of the need for an accounting standard for the purpose of resolving conflicting or varied views on a subject matter or where existing
More informationTeacher: Mr. Jones ACCOUNTS WORKBOOK GRADE 11 PRINCE WILLIAMS HIGH SCHOOL TERM 1
Name: Class: Option: 1 Teacher: Mr. Jones ACCOUNTS WORKBOOK GRADE 11 PRINCE WILLIAMS HIGH SCHOOL TERM 1 INSTRUCTIONS TO CANDIDATES REVIEW NOTES AND ANSWER QUESTIONS PROVIDED ALL YOUR ANSWERS MUST BE WRITTEN
More information