John Ogilvie High School. Higher Accounting. Company Accounts
|
|
- Douglas Hutchinson
- 5 years ago
- Views:
Transcription
1 John Ogilvie High School Higher Accounting Company Accounts
2 Question 1 The following figures were taken from the records of Ochil Industries plc as at 31 December Year 2. Dr Cr Revenue of finished goods 1,680 Purchases of raw materials 280 Inventories at 1 January Year 2: Raw materials 48 Work-in-progress 22 Finished goods 84 Direct wages 300 Salaries 90 Insurance 100 Factory expenses 10 Factory power 40 Office expenses 5 Factory machinery at cost 700 Provision for depreciation on factory machinery at 1 January Year Office equipment at cost ,000 ordinary shares of 1 each 500 Unappropriated profit at 1 January Year 2 8 Notes at 31 December Year Inventories Raw materials 40 Work-in-progress 32 Finished goods 68 2 Insurance receivable (prepaid) 20 3 Office expenses payable (due) 1 4 Provide for corporation tax Factory machinery is depreciated at 10% per annum on cost. 6 Office equipment is depreciated at 5% per annum on cost. 7 Salaries are to be apportioned between the factory and the office in the ratio 2:1. Company Accounts Page 2
3 8 Insurance, taking into account the receivable (prepayment), is to be divided 75% to the factory and 25% to the office. 9 An interim dividend of 15% has been paid on ordinary shares but has been omitted from the accounts. (a) Prepare, for internal use, the Manufacturing Account only, for the year ended 31 December Year 2, labelling clearly the: (i) Cost of raw materials consumed (ii) Prime cost (iii) Factory cost of production 10 (b) Prepare the Income Statement (Trading, Profit and Loss Account), for internal use, (including the appropriation of available profits), for the year ended 31 December Year Total marks (20) Company Accounts Page 3
4 Question 2 The following balances were taken from the books of Gleneagles plc for the year ended 31 March Year Gross Profit ,000 Ordinary shares of 1 each ,000 12% Preference shares of 1 each 50 Retained earnings at 1 April Year % Debentures (Year 2 Year 6) 80 Trade payables 40 Trade receivables 178 Rates 84 General expenses 27 Wages and salaries 75 Property at cost 259 Vehicles at cost 50 Inventory at 31 March Year Provision for depreciation on vehicles at 1 April Year 1 20 Administration expenses 42 Distribution expenses 12 Cash and cash equivalents 13 VAT 25 Preference dividend paid 6 Ordinary dividend paid 15 Notes at 31 December Year 2 1. Rates payable at 31 March Year 2 amounted to 6, General expenses include a prepayment of 7,000 for next year. 3. Debenture finance costs (interest) for the year has still to be paid. 4. Deprecation on vehicles is to be provided at 20% on cost. 5. Provide for corporation tax of 25% on the year s profits You are required to prepare: a) i) the income statement (profit and loss account) and a statement of changes in retained earnings for the year ended 31 March Year 2 10 ii) a statement of financial position as at the above date marks Company Accounts Page 4
5 Question 3 The following balances were extracted from the books of Uryside plc: Dr Cr Opening inventory raw materials 20 Purchases of raw materials 140 Factory wages 180 Royalties 20 Depreciation of factory machinery 30 General factory expenses 60 Factory rent and rates 31 Factory insurance 35 Opening inventory: work-in-progress 12 Sales revenue 800 Sales returns 20 Opening inventory: finished goods 40 Carriage on purchases of raw materials 20 Purchases returns on raw materials 5 Provision for bad debts 11 Office expenses 36 Selling expenses 40 Bad debts 6 Unappropriated profit 14 Ordinary dividend 6 Property 215 Equipment 100 Provision for depreciation equipment 6 Factory machinery 80 Preliminary expenses 9 Share premium 110 Investments 100 Goodwill 30 Trade receivables 80 VAT 11 Trade payables 50 Cash and cash equivalents 5 10% Debentures ,000 7% Preference shares of 1 00 each ,000 Ordinary shares of 1 00 each 100 1,291 1,291 Company Accounts Page 5
6 NOTES AT 31 DECEMBER YEAR 5 1 Closing inventory: Raw materials 18,000 Work-in-progress 16,000 Finished goods 55,000 2 Factory wages are to be split 80% direct factory wages, 20% indirect factory wages. 3 Market value of production is 500,000 4 Office expenses prepaid 4,000 5 Selling expenses due 10,000 6 The provision for doubtful debts is to be adjusted to 10% of closing trade receivables. 7 Preliminary expenses are to be written down by transfer from the share premium account. 8 Non-current assets are to be depreciated as follows: Factory machinery 10% of the reduced balance Equipment 5% on cost 9 Property was professionally revalued at 250, Dividends of 5,000 were owing on the quoted investments. 11 Provide for corporation tax at 25% of profit for the year. 12 Goodwill is to be written down by 20, The preference dividend was paid in full by cheque, but omitted from the accounts in error. You are required to prepare (for internal use), from the trial balance and notes: (a) Manufacturing account for the year ended 31 December Year 5 10 (b) Income statement for the year ended 31 December Year 5 16 (c) Statement of financial position as at 31 December Year 5 14 (40) Company Accounts Page 6
7 Question 4 The following is the trial balance of Alexander plc as at 31 December Year Sales Revenue 4,000 Purchases 3,200 Inventory at 1 January Year Bad debts 5 Discounts (net) 7 Selling expenses 380 Office expenses 160 Debenture finance costs (interest) 16 Dividend - preference shares 60 1,000,000 Ordinary shares of 1 each 1, ,000 10% Preference shares % Debentures Year Investment property (investments) 170 Property (premises) 1,700 Fittings (at cost) 100 Vehicles (at cost) 160 Provisions for depreciation at 1 January Year 2 Fittings 60 Vehicles 40 Provision for doubtful debts at 1 January Year 2 4 Unappropriated profit at 1 January Year Trade payables 50 Trade receivables 120 VAT 16 Cash and cash equivalents 2 6,371 6,371 Notes: 6. Inventory (Inventory) at 31 December Year 2 was valued at 280, Selling expenses receivable (prepaid) are 4,000 and office expenses payable (accrued) are 8, Provide for depreciation for the year as follows: i. Fittings 20% on cost ii. Vehicles 10% on the reduced balance 9. Provision for doubtful debts is to be adjusted to 5% of trade receivables. 10. Provide for corporation tax at 25% of profit for the Year (net profit). Company Accounts Page 7
8 You are required to prepare: b) the income statement (trading, profit and loss account) for the year ended 31 December Year 2 15 c) a statement of financial position as at the above date 13 Total marks (28) Question 5 The following is the trial balance of Carluke plc as at 31 December Year 3 after the preparation of the trading account: ,000 8% preference shares of 1 each ,000 ordinary shares of 50p each % debentures 100 Gross profit 142 Inventory (Inventory) at 31 December Year 3 13 Office expenses 60 Discounts 6 Advertising 10 Provision for doubtful debts at 1 January Year 3 1 Trade payables (Trade Payables) 21 Trade receivables (Trade Receivables) 22 Cash and Cash equivalents 51 Preference dividend paid 16 Ordinary dividend paid 12 Long-term investments 150 VAT 14 Unappropriated profits at 1 January Year 3 70 Property (at cost) 280 Fixtures and equipment (at cost) 150 Vehicles (at cost) 90 Provisions for depreciation at 1 January Year 3 fixtures and equipment 70 vehicles Company Accounts Page 8
9 Notes at 31 December Year 3 1. The market value of the closing inventory is 15, Office salaries payable (accrued) are 2, The figure for advertising includes the payment for the first quarter of Year The provision for doubtful debts is to be increased by 2, Provide for depreciation per annum as follows: fixtures and fittings 20% of the reduced balance vehicles 10% on cost 6. Provide for corporation tax at 25%. 7. Dividends of 10% are receivable (due) on the long-term investments. You are required to prepare: a) The Income Statement (Trading, Profit and Loss Account) and a statement of changes in retained earnings for the year ended 31 December Year b) A Statement of Financial Position (Statement of Financial Position) as at the above date. 16 Total marks (29) Company Accounts Page 9
10 Question 6 Kwik-Instalments plc fits bathroom units. The following is the trial balance as at 31 December Year Sales Revenue 341 Purchases 126 Inventory at 1 January Year 3 24 Selling Expenses 20 Office Expenses 35 Warehouse Expenses 50 Wages 71 VAT 40 Provision for Doubtful Debts at 1 January Year 3 4 Trade Receivables 60 Trade Payables 43 Interim Dividend on Ordinary Shares 10 Investment Property 70 Cash and Cash Equivalents 8 Goodwill ,000 Ordinary Shares of 1 each % Debentures (Year 20) 80 Property (at cost) 50 Showroom Fittings (at cost) 70 Vehicles (at cost) 50 Provisions for Depreciation at 1 January Year 3: Showroom Fittings 20 Vehicles 10 Share Premium 30 Profit and Loss Account balance at 1 January Year 3 6 Preliminary Expenses Company Accounts Page 10
11 Notes at 31 December Year 3: 1. The inventory is valued at 22, Accrued charges are: 3. carriage inwards 1, Selling expenses include a payment of 6,000 for a television advertisement, which will be shown in the next financial year. 5. Provide for depreciation for the year as follows: (i) (ii) showroom fittings 10% on cost vehicles 20% of the reduced balance 6. The provision for doubtful debts is to be adjusted to 5% of trade receivables (Trade Receivables). 7. Dividends of 4,000 are due from investments. 8. Corporation tax is to be provided for at 25% of profit for the year (net profit). 9. During Year 3, a bonus issue of ordinary shares was made on the basis of one share for every five held. This issue was financed by a transfer from the share premium account and is still to be recorded. 10. Property is revalued at 60, Write-off the preliminary expenses by transfer from the share premium account. 12. Goodwill is to be written down by 6,000. Prepare: (a) an income statement, including the appropriation of available profits (trading, profit and loss and appropriation account), for the year ended 31 December Year 3 17 (b) a statement of financial position at that date 23 Total marks (40) Company Accounts Page 11
12 Question 7 The following is the Trial Balance of Glencairn plc at 31 December Year Sales revenue 430 Purchases 246 Inventory at 1 January Year 4 30 Administration expenses 36 Selling and distribution expenses 33 Warehouse expenses 16 Discounts (net) 4 VAT 16 Wages 40 Provision for doubtful debts at 1 January Year 4 5 Trade receivables 60 Trade payables 35 Quoted investments 70 Cash and cash equivalents 6 Goodwill 20 Preliminary expenses ,000 1 ordinary shares % debentures 80 Property (Buildings) (at cost) 100 Office equipment (at cost) 30 Motor vehicles (at cost) 50 Provisions for depreciation at 1 January Year 4: office equipment 8 motor vehicles 10 Share premium 30 Interim dividend-ordinary shares 6 Rent and rates 5 Unappropriated profit at 1 January Year Company Accounts Page 12
13 Notes at 31 December Year 4 (1) Inventory, valued at 20,000 (cost) has a value of 24,000 (market value). (2) Administration expenses receivable (prepaid) 2,000. (3) The provision for doubtful debts is to be adjusted to 10% of trade receivables. (4) Dividends of 3,000 are due from investments. (5) Provide for depreciation for the year as follows: (i) (ii) office equipment 10% on cost motor vehicles 20% on the diminished balance (6) Provide for corporation tax at 25% of profit for the year (Net profit). (7) Property (Buildings) has been revalued at 110,000 the surplus on revaluation is to be transferred directly to a revaluation reserve. (8) Preliminary expenses are to be written down by transfer from share premium. (9) A cheque for payment of rent for 1,000 for this year has been completely omitted from the books and has still to be recorded. (10) Goodwill is to be written down by 12,000. (a) You are required to prepare from the Trial Balance and Notes: Income Statement for the year ended 31 December Year 4 and a Statement of Financial Position. 38 Total marks (38) Company Accounts Page 13
14 8. The following is the Trial Balance of Gibshill Enterprises plc as at 30 April Year Sales Revenue 250 Purchases 170 Inventory at 1 May Year 1 15 Selling Expenses 16 Office Expenses 18 Provision for Doubtful Debts at 1 May Year 1 1 Bad Debts 4 Discounts (net) 1 Debenture Interest Paid (half year) 2 Preference Dividend Paid 2 Trade Receivables 60 Trade Payables 10 VAT 4 Cash equivalent 6 Goodwill 13 20,000 10% Preference Shares of 1 each 20 40,000 Ordinary Shares of 1 each 40 8% Debentures 50 Fittings (at cost) 55 Vehicles (at cost) 85 Provisions for Depreciation at 1 May Year 1 Fittings 12 Vehicles 15 Equity Reserve 16 Share Premium 15 Profit and Loss Account Balance at 1 May Year ================ NOTES (1) Inventory at 30 April Year 2-18,000. (2) Selling Expenses payable - 4,000. (3) Office Expenses receivable - 5,000. (4) Provide for depreciation for the year as follows: Company Accounts Page 14
15 (i) Fittings 20% on cost; (ii) Vehicles 10% of the reduced balance. (5) The Provision for Doubtful Debts at 30 April Year 2 is to be adjusted to 5% of Trade Receivables. (6) Interest of 1,000 is due on the cash equivalent overdraft. (7) Provide for Corporation Tax at 25% of Profit for the Year. (8) Provide for Debenture Interest for the full year. (9) During January Year 2 a bonus issue of Ordinary Shares was made on the basis of one share for every four held. This issue is to be financed by a transfer from the Share Premium Account and is still to be recorded. (10) The Directors propose to: (i) (ii) write off the Goodwill; pay a final dividend for the year of 8% on the Ordinary Shares, including the bonus shares. You are required to prepare, from the Trial Balance and Notes: Income Statement (including appropriation of the available profits) for the year ended 30 April Year 2, and a Statement of Financial Position as at that date. Company Accounts Page 15
16 9. The following is the Trial Balance of Lylehill plc as at 30 April Year Sales Revenue 200 Purchases 51 Inventory at 1 May Year 2 10 Selling and Advertising Expenses 15 Office and Administration Expenses 14 Salaries 58 Provision for Doubtful Debts at 1 May Year 2 6 Bad Debts 1 Discounts (net) 5 Dividend paid on Ordinary Shares 7 60,000 Ordinary Shares of 1 each 60 10% Debentures 30 Premises 100 Fittings (at cost) 40 Vehicles (at Cost) 25 Provisions for Depreciation at 1 May Year 2 Fittings 10 Vehicles 5 Equity Reserve 2 Share Premium 26 Profit and Loss Account Balance at 1 May Year 2 4 Trade Receivables 40 Trade Payables 35 VAT 6 Cash equivalent ================ NOTES (1) Inventory at 30 April Year 3-12,000. (2) Office and Administration Expenses payable - 2,000. (3) Selling and Advertising Expenses receivable - 3,000. (4) Provide for depreciation for the year as follows: (i) Fittings l0% of the reduced balance; (ii) Vehicles 20% on cost. Company Accounts Page 16
17 (5) The Provision for Doubtful Debts at 30 April Year 3 is to be adjusted to 5% of Trade Receivables. (6) Provide for Corporation Tax at 25% of Profit for the Year. (7) Premises have been revalued at 150,000 and the surplus is to be transferred directly to the Equity Reserve. You are required to prepare, from the Trial Balance and Notes: Income Statement (including appropriation of the available profits) for the year ended 30 April Year 3, and a Statement of Financial Position as at that date. (50) Company Accounts Page 17
Manufacturing Accounts
All questions copyright of Cambridge International Examinations 1 Manufacturing Accounts All questions copyright of Cambridge International Examinations 2 2 1 The following balances were extracted from
More informationSole Trader Final Accounts
All questions copyright of Cambridge International Examinations 1 Sole Trader Final Accounts All questions copyright of Cambridge International Examinations 2 2 1 Amah Retto's ledger accounts for the year
More informationTHURSDAY, 9 MAY 1.00 PM 3.30 PM
X209/12/01 NATIONAL QUALIFICATIONS 2013 THURSDAY, 9 MAY 1.00 PM 3.30 PM ACCOUNTING HIGHER Candidates should attempt six questions in total, as follows. Section A Question 1 and Question 2 or 3 and Question
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 informationSuggested layouts for financial statements in National 5 and Higher Accounting courses
Suggested layouts for financial statements in National 5 and Higher Accounting courses The following suggested layouts may be used when presenting financial statements in the Accounting courses for National
More informationMONDAY, 18 MAY 9.00 AM AM
X209/12/01 NATIONAL QUALIFICATIONS 2015 MONDAY, 18 MAY 9.00 AM 11.30 AM ACCOUNTING HIGHER Candidates should attempt six questions in total, as follows. Section A Question 1 and Question 2 or 3 and Question
More informationCambridge International Examinations Cambridge Ordinary Level
Cambridge International Examinations Cambridge Ordinary Level * 5 6 1 5 6 3 3 0 4 0 * PRINCIPLES OF ACCOUNTS 7110/22 Paper 2 October/November 2016 2 hours Candidates answer on the Question Paper. No Additional
More informationCambridge International Examinations Cambridge Ordinary Level
Cambridge International Examinations Cambridge Ordinary Level *5985068607* PRINCIPLES OF ACCOUNTS 7110/21 Paper 2 May/June 2015 2 hours Candidates answer on the Question Paper. No Additional Materials
More informationwww.onlineexamhelp.com Cambridge International Examinations Cambridge Ordinary Level *9118591134* PRINCIPLES OF ACCOUNTS 7110/21 Paper 2 October/November 2014 2 hours Candidates answer on the Question
More information2016 EXAMINATIONS KNOWLEDGE LEVEL PAPER 1: ACCOUNTING FRAMEWORK
EXAMINATION NO 2016 EXAMINATIONS NOWLEDGE LEVEL PAPER 1: ACCOUNTING FRAMEWOR TUESDAY 7 JUNE 2016 TIME ALLOWED : 3 HOURS 9.00AM - 12.00 NOON INSTRUCTIONS: 1. You are allowed 15 minutes reading time before
More informationPRINCIPLES OF ACCOUNTS 7110/22 Paper 2 Structured October/November 2016 MARK SCHEME Maximum Mark: 120. Published
Cambridge International Examinations Cambridge Ordinary Level PRINCIPLES OF ACCOUNTS 7110/22 Paper 2 Structured October/November 2016 MARK SCHEME Maximum Mark: 120 Published This mark scheme is published
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Ordinary Level *7904947134* PRINCIPLES OF ACCOUNTS 7110/21 Paper 2 May/June 2011 2 hours Candidates answer on the Question
More informationCambridge International General Certificate of Secondary Education 0452 Accounting June 2014 Principal Examiner Report for Teachers
ACCOUNTING Cambridge International General Certificate of Secondary Education Paper 0452/11 Paper 11 Key Messages Question 1 consisted of ten multiple choice items covering topics across the whole syllabus.
More informationFINANCIAL ACCOUNTING II. Berjaya Engineering Sdn Bhd produces the following balances from its books at 31 December 20x1:
Question 1 Berjaya Engineering Sdn Bhd produces the following balances from its books at 31 December 20x1: Stocks at 1 January 20x1 Raw materials Work-in-progress (factory cost) Finished goods (transfer
More informationFINANCIAL STATEMENTS OF TRADING COMPANIES
FINANCIAL STATEMENTS OF TRADING COMPANIES QUESTION ONE The trial balance of Beta Limited as at 31 st December, 2016 is as follows: Dr Cr GH GH Sales and Purchases 20,000 50,000 Inventory 8,000 Distribution
More informationCambridge International Examinations Cambridge Ordinary Level
Cambridge International Examinations Cambridge Ordinary Level *2999138183* PRINCIPLES OF ACCOUNTS 7110/21 Paper 2 October/November 2017 2 hours Candidates answer on the Question Paper. No Additional Materials
More informationCopyright Reserved Serial No. Institute of Certified Management Accountants of Sri Lanka. Operational Level May 2015 Examination
Copyright Reserved Serial No Operational Level May 2015 Examination Examination Date : 16 th May 2015 Number of Pages : 09 Examination Time: 9.30 a:m. 12.30 p:m. Number of Questions: 07 Instructions to
More informationCertificate in Book-keeping and Accounts
Certificate in Book-keeping and Accounts ASE2007 Level 2 Monday 8 April 2013 Time allowed: 3 hours Information There are 5 questions in this question paper. All questions carry equal marks. Instructions
More informationSCHOOL OF ACCOUNTING AND BUSINESS BSc. (APPLIED ACCOUNTING) GENERAL / SPECIAL DEGREE PROGRAMME
All Rights Reserved No. of Pages - 17 No of Questions - 06 SCHOOL OF ACCOUNTING AND BUSINESS BSc. (APPLIED ACCOUNTING) GENERAL / SPECIAL DEGREE PROGRAMME YEAR I SEMESTER II (INTAKE V GROUP B) END SEMESTER
More informationCambridge International Examinations Cambridge Ordinary Level
Cambridge International Examinations Cambridge Ordinary Level *1125131151* PRINCIPLES OF ACCOUNTS 7110/22 Paper 2 May/June 2017 2 hours Candidates answer on the Question Paper. No Additional Materials
More information0452 ACCOUNTING. 0452/12 Paper 1, maximum raw mark 120
CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education MARK SCHEME for the May/June 2014 series 0452 ACCOUNTING 0452/12 Paper 1, maximum raw mark 120 This mark scheme
More informationAccounting Leaving Certificate Higher Level. Past Exam Questions on: Published Accounts
Accounting Leaving Certificate Higher Level Past Exam Questions on: Published Accounts Page 1 of 12 OVER Q6 2013 Q9 2011 Q6 2009 Q4 Published Accounts Lemont PLC has an Authorised share capital of 700,000
More informationCambridge International Examinations Cambridge International Advanced Subsidiary and Advanced Level
*1440226124* Cambridge International Examinations Cambridge International Advanced Subsidiary and Advanced Level ACCOUNTING 9706/22 Paper 2 Structured Questions October/November 2014 1 hour 30 minutes
More informationFINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING FORMATION 2 EXAMINATION - AUGUST 2010 NOTES: You are required to answer Question 1. You are also required to answer any three out of Questions 2 to 5. (If you provide answers to all
More informationPaper Reference(s) 6001/01 London Examinations GCE. Accounting (Modular Syllabus) Advanced Subsidiary/Advanced Level. Monday 18 January 2010 Morning
Paper Reference(s) 6001/01 London Examinations GCE Accounting (Modular Syllabus) Advanced Subsidiary/Advanced Level Unit 1 The Accounting System and Costing Monday 18 January 2010 Morning Source booklet
More information2018 Accounting. Higher. Finalised Marking Instructions
National Qualifications 2018 2018 Accounting Higher Finalised Marking Instructions Scottish Qualifications Authority 2018 The information in this publication may be reproduced to support SQA qualifications
More informationNational Quali cations 2015
H National Quali cations 015 X700/76/11 Accounting MONDAY, 18 MAY 9:00 AM 11:00 AM Total marks 100 SECTION 1 40 marks Attempt THIS question. SECTION 60 marks Attempt ALL questions. You may use a calculator.
More informationAnnual Qualification Review
LCCI International Qualifications Level 2 Certificate in Book-Keeping and Accounts Annual Qualification Review 2008 For further information contact us: Tel. +44 (0) 8707 202909 Email. enquiries@ediplc.com
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 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 informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education
*2076080738* UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education ACCOUNTING 0452/21 Paper 2 October/November 2012 Candidates answer on the Question
More informationFinal Accounts. A) Trading A/c Dr. Trading A/c Cr. Particulars Amt. Particulars Amt.
Chapter 13 Final Accounts * Cost of Goods sold = Op. stock + Purchases Cl. Stock * Gross Profit = Sales Cost of Goods sold * Gross Profit = Sales G.P.% * Gross profit can be a percentage on Cost or it
More informationAdvanced Financial Accounting. Sample Paper 1 Questions & Suggested Solutions
Advanced Financial Accounting Sample Paper 1 Questions & Suggested Solutions INSTRUCTIONS TO CANDIDATES PLEASE READ CAREFULLY Candidates must indicate clearly whether they are answering the paper in accordance
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 informationFINANCIAL ACCOUNTING II. Alex and Ben have been in partnership for many years, sharing profits and losses equally.
Question 1 Alex and Ben have been in partnership for many years, sharing profits and losses equally. At 30 June 2010, their summarised Balance Sheet was as follows: Fixed Assets Goodwill Premises (at cost)
More informationCoimisiún na Scrúduithe Stáit State Examinations Commission
2014. M55 Coimisiún na Scrúduithe Stáit State Examinations Commission LEAVING CERTIFICATE EXAMINATION 2014 A C C O U N T I N G - H I G H E R L E V E L (400 marks) This paper is divided into 3 Sections:
More informationQuestion No: 1 ( Marks: 1 ) - Please choose one Wages outstanding given in the trial balance will be treated as a (an):
Question No: 1 ( Marks: 1 ) - Please choose one Wages outstanding given in the trial balance will be treated as a (an): Asset Liability Revenue Deferred expense Question No: 2 ( Marks: 1 ) - Please choose
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 informationCHARTERED TAX INSTITUTE OF MALAYSIA ( T) (Institut Percukaian Malaysia) PROFESSIONAL EXAMINATIONS FINANCIAL ACCOUNTING. Date
CHARTERED TAX INSTITUTE OF MALAYSIA (225750 T) (Institut Percukaian Malaysia) PROFESSIONAL EXAMINATIONS INTEEDIATE LEVEL FINANCIAL ACCOUNTING JUNE 2018 Student Registration No. Desk No. Date Examination
More informationCambridge IGCSE Accounting (0452)
www.xtremepapers.com Cambridge IGCSE Accounting (0452) International Accounting Standards (IAS) Guidance for Teachers Contents Introduction... 2 Use of this document... 2 Users of financial statements...
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 informationMINISTRY OF EDUCATION
REPUBLIC OF NAMIBIA MINISTRY OF EDUCATION NAMIBIA SENIOR SECONDARY CERTIFICATE ACCOUNTING SPECIMEN PAPERS 1 2 AND MARK SCHEMES HIGHER LEVEL GRADES 11 12 THESE PAPERS AND MARK SCHEMES SERVE TO EXEMPLIFY
More informationDO NOT TURN OVER UNTIL TOLD TO BEGIN
THIS PAPER IS NOT TO BE REMOVED FROM THE EXAMINATION HALLS University of London BSc Examination 2011 for External Students BBA0020 Business Administration Accounting for Management DATE DO NOT TURN OVER
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 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 informationC O V E N A N T U N I V E RS I T Y P R O G R A M M E : A C C O U N T I N G A L P H A S E M E S T E R T U T O R I A L K I T L E V E L
C O V E N A N T U N I V E RS I T Y T U T O R I A L K I T P R O G R A M M E : A C C O U N T I N G A L P H A S E M E S T E R 2 0 0 L E V E L DISCLAIMER The contents of this document are intended for practice
More informationCoimisiún na Scrúduithe Stáit State Examinations Commission
2018. M55 Coimisiún na Scrúduithe Stáit State Examinations Commission LEAVING CERTIFICATE EXAMINATION 2018 ACCOUNTING - HIGHER LEVEL (400 marks) MONDAY 18 JUNE AFTERNOON 2.00 5.00 This paper is divided
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 informationCS101 Introduction of computing
FINAL TERM EXAMINATION MGT101- Financial Accounting (PAPER 1). Question No: 1 (Marks: 1 ) basic accounting principle/concept according to which Business is independent from its owner(s) is known as: Separate
More informationABSA 203: Intermediate Financial Accounting I
ABSA 203: Intermediate Financial Accounting I Tutorial Exercises Christos Minas PhD (Cand.), FAIA, MSc, BA SUBJECT OUTLINE Objectives of the subject The aim of the subject is to build on the knowledge
More informationegyptigstudentroom.com
UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education *0018636067* ACCOUNTING 0452/13 Paper 1 October/November 2013 Candidates answer on the Question
More informationDO NOT TURN OVER UNTIL TOLD TO BEGIN
THIS PAPER IS NOT TO BE REMOVED FROM THE EXAMINATION HALLS University of London BSc Examination 2012 BA1020 (BBA0020) Business Administration Accounting for Management Day, May 2012: Time DO NOT TURN OVER
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 informationTHE CATHOLIC UNIVERSITY OF EASTERN AFRICA A. M. E. C. E. A
THE CATHOLIC UNIVERSITY OF EASTERN AFRICA A. M. E. C. E. A CITY CAMPUS MAIN EXAMINATION P.O. Box 62157 00200 Nairobi - KENYA Telephone: 891601-6 Fax: 254-20-891084 E-mail:academics@cuea.edu JANUARY APRIL
More information(AA31) FINANCIAL ACCOUNTING AND REPORTING
All Rights Reserved ASSOCIATION OF ACCOUNTING TECHNICIANS OF SRI LANKA AA3 EXAMINATION - JANUARY 2018 (AA31) FINANCIAL ACCOUNTING AND REPORTING Instructions to candidates (Please Read Carefully): (1) Time
More informationPOLYTECHNIC OF NAMIBIA
POLYTECHNIC OF NAMIBIA SCHOOL OF MANAGEMENT SCIENCES DEPARTMENT: ACCOUNTING, ECONOMICS & FINANCE BACHELOR OF ACCOUNTING FINANCIAL ACCOUNTING 102 (FAC 512S) SECOND OPPORTUNITY EXAMINATION QUESTION PAPER
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 informationCambridge International Examinations Cambridge Ordinary Level
Cambridge International Examinations Cambridge Ordinary Level * 4 9 4 7 9 2 9 8 8 6 * PRINCIPLES OF ACCOUNTS 7110/22 Paper 2 October/November 2015 2 hours Candidates answer on the Question Paper. No Additional
More informationComposed & Solved Hafiz Salman Majeed
FINALTERM EXAMINATION Fall 2008 MGT101- Financial Accounting (Session - 4) Question No: 1 ( Marks: 1 ) - Please choose one Wages outstanding given in the trial balance will be treated as a (an): Asset
More informationTax Index of Financial Data
Tax Index of Financial Data Please input: Year of Assessment Reference number: Company Name:. of Trading Activities: Balance Sheet Income Statement Validations All mandatory fields present and correct?
More informationACCOUNTING - HIGHER LEVEL (400 marks)
M.55 ªM.55/ PRE-LEAVING CERTIFICATE EXAMINATION, 2009 ACCOUNTING - HIGHER LEVEL (400 marks) TIME : 3 HOURS This paper is divided into 3 Sections: Section 1: Financial Accounting (120 marks). This section
More informationPaper No:34 Solved by Chanda Rehman & ABr
Paper No:34 Solved by Chanda Rehman & ABr FINALTERM EXAMINATION Fall 2009 MGT101- Financial Accounting (Session - 2) Time: 120 min Marks: 87 Question No: 1 ( Marks: 1 ) - Please choose one We can say that
More informationExamination Period 3: 2016/17
Examination Period 3: 2016/17 Module title Level Time Allowed Financial Accounting Four Three hours, plus reading time of 15 minutes. Students should not begin answering the questions until the reading
More informationFINANCIAL STATEMENTS OF LIMITED COMPANIES (Continued)
Lesson # 39 Question # 1: FINANCIAL STATEMENTS OF LIMITED COMPANIES (Continued) KKB (Private) Limited is a manufacturing company. Following list of balances has been extracted from its books as on June
More information2014 EXAMINATIONS KNOWLEDGE LEVEL PAPER 1: ACCOUNTING FRAMEWORK
EXAMINATION NO. 2014 EXAMINATIONS NOWLEDGE LEVEL PAPER 1: ACCOUNTING FRAMEWOR WEDNESDAY 3 DECEMBER 2014 TIME ALLOWED : 3 HOURS 9.00AM - 12.00 NOON INSTRUCTIONS: 1. You are allowed 15 minutes reading time
More informationAccounting (Modular Syllabus)
Pearson Edexcel International Advanced Level Accounting (Modular Syllabus) Unit 1: The Accounting System and Costing Tuesday 12 May 2015 Morning Source Booklet Paper Reference WAC01/01 Do not return the
More informationManufacturing Account (With answers)
Manufacturing Account (With answers) A) Modified Trading and Profit and Loss Account A company imported transistor radios from Britain, however, the radios must be modified to meet Hong Kong specifications
More informationBaru Ltd., publishing and printing company, extracted the following trial balance as at 31 October 2005:
NUMBER ONE QUESTIONS Baru Ltd., publishing and printing company, extracted the following trial balance as at 31 October 2005: Sh. 000 Sh. 000 Property, plant and equipment: Cost 907,722 Accumulated 108,000
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 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 informationCambridge International Examinations Cambridge International Advanced Subsidiary and Advanced Level
*5783442697* Cambridge International Examinations Cambridge International Advanced Subsidiary and Advanced Level ACCOUNTING 9706/11 Paper 1 Multiple Choice May/June 2017 Additional Materials: Multiple
More informationCERTIFICATE IN BOOK-KEEPING
Practice Paper CERTIFICATE IN BOOK-KEEPING Level 2 Subject Code: ASE20050 Time allowed: 2 hours 30 minutes INSTRUCTIONS FOR CANDIDATES Answer all 4 questions. All questions carry equal marks. Study the
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Ordinary Level. Paper 2 October/November hours
www.xtremepapers.com UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Ordinary Level *2447945096* PRINCIPLES OF ACCOUNTS 7110/02 Paper 2 October/November 2010 2 hours
More informationTUESDAY, 29 APRIL 1.00 PM 3.30 PM
X209/12/01 NATIONAL QUALIFICATIONS 2014 TUESDAY, 29 APRIL 1.00 PM 3.30 PM ACCOUNTING HIGHER Candidates should attempt six questions in total, as follows. Section A Question 1 and Question 2 or 3 and Question
More informationACCN3 Additional Specimen Questions
TEACHER RESOURCE BANK GCE Accounting Additional Sample Questions and Mark Schemes New/Modified Topics: ACCN3 First issue 2010 The Assessment and Qualifications Alliance (AQA) is a company limited by guarantee
More informationMARK SCHEME for the May/June 2011 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 2011 question paper for the guidance of teachers 0452 ACCOUNTING
More informationPlease be aware that the following amendments to the Passport to Success Level 3 Accounting student book are required:
Errata Passport to Success: Level 3 Accounting Please be aware that the following amendments to the Passport to Success Level 3 Accounting student book are required: Page 5 In Note (8) replace General
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 informationPaper N0:15. Solved by Chanda Rehman, Nomi chakwal ABr FINALTERM EXAMINATION. Fall MGT101- Financial Accounting (Session - 4)
Paper N0:15 Solved by Chanda Rehman, Nomi chakwal ABr FINALTERM EXAMINATION Fall 2009 MGT101- Financial Accounting (Session - 4) Time: 120 min Marks: 87 Question No: 1 ( Marks: 1 ) - Please choose one
More informationCambridge International Examinations Cambridge International General Certificate of Secondary Education
*7657911134* Cambridge International Examinations Cambridge International General Certificate of Secondary Education ACCOUNTING 0452/22 Paper 2 October/November 2014 Candidates answer on the Question Paper.
More informationSCHOOL OF ACCOUNTING AND BUSINESS BSc. (APPLIED ACCOUNTING) GENERAL / SPECIAL DEGREE PROGRAMME
All Rights Reserved No. of Pages - 10 No of Questions - 06 SCHOOL OF ACCOUNTING AND BUSINESS BSc. (APPLIED ACCOUNTING) GENERAL / SPECIAL DEGREE PROGRAMME YEAR I SEMESTER II INTAKE VII (GROUP B) END SEMESTER
More information5. Consolidated Financial Statements (1) Consolidated Balance Sheets
5. Consolidated Financial Statements (1) Consolidated Balance Sheets March 31, 2008 Assets Current assets Cash and deposits 84,224 89,218 Notes and accounts receivable-trade 230,156 234,862 Lease receivables
More informationCambridge International Examinations Cambridge International General Certificate of Secondary Education
Cambridge International Examinations Cambridge International General Certificate of Secondary Education *3963040331* ACCOUNTING 0452/12 Paper 1 October/November 2017 1 hour 45 minutes Candidates answer
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 informationCOMPOSED BY SADIA ALI SADI (MBA)
Mega File MGT101 Fall 2011 Question No: 7 ( Marks: 1 ) - Please choose one Which of the following business publishes the Financial Statements? Sole-Proprietorship Partnership Trust Public Limited Company
More informationConsolidated Balance Sheets
Consolidated Balance Sheets (As of March 31, 2017) ASSETS LIABILITIES Current Assets 1,044,322 Current liabilities 849,143 Cash and deposits 155,763 Notes and accounts payable 414,090 Notes and accounts
More informationConsolidated Balance Sheets
Consolidated Balance Sheets (As of March 31, 2018) ASSETS LIABILITIES Current Assets 1,046,288 Current liabilities 901,018 Cash and deposits 165,526 Notes and accounts payable 457,126 Notes and accounts
More informationCambridge International Examinations Cambridge International Advanced Subsidiary and Advanced Level
*9318495000* Cambridge International Examinations Cambridge International Advanced Subsidiary and Advanced Level ACCOUNTING 9706/41 Paper 4 Problem Solving (Supplementary Topics) October/November 2015
More informationNC 824. First Year B. C. A. Examination. April / May Financial Accounting & Management. Time : 3 Hours] [Total Marks : 50
NC 824 First Year B. C. A. Examination April / May 2003 Financial Accounting & Management Seat No. Time : 3 Hours] [Total Marks : 50 Instructions : (1) Figures to the right indicate marks. (2) Show calculations
More informationUnappropriated retained earnings (accumulated deficit) Total unappropriated retained earnings (accumulated deficit) 676, ,797 Total retained ear
Financial Statement Balance Sheet Accounting Title 2014/12/31 2013/12/31 Balance Sheet Assets Current assets Cash and cash equivalents Total cash and cash equivalents 1,183,185 1,177,682 Current bond investment
More informationLEAVING CERTIFICATE 2009 MARKING SCHEME ACCOUNTING ORDINARY LEVEL
Coimisiún na Scrúduithe Stáit State Examinations Commission LEAVING CERTIFICATE 2009 MARKING SCHEME ACCOUNTING ORDINARY LEVEL LEAVING CERTIFICATE ACCOUNTING - 2009 Ordinary Level Marking Scheme INTRODUCTION
More informationMARK SCHEME for the October/November 2013 series 0452 ACCOUNTING. 0452/13 Paper 1, maximum raw mark 120
CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education MARK SCHEME for the October/November 2013 series 0452 ACCOUNTING 0452/13 Paper 1, maximum raw mark 120 This
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 TRAINING PLACE OF EXCELLENCE Accounts Preparation Practice Assessment: Questions
THE TRAINING PLACE OF EXCELLENCE Accounts Preparation Practice Assessment: Questions Task 1: Non-Current Assets Register The following is a purchase invoice received by NFS Ltd: Invoice 60754 To: NFS Ltd
More informationMARK SCHEME for the October/November 2011 question paper for the guidance of teachers 9706 ACCOUNTING
UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS GCE Advanced Subsidiary Level and GCE Advanced Level MARK SCHEME for the October/November 2011 question paper for the guidance of teachers 9706 ACCOUNTING
More informationConsolidated Financial Statements (1) Consolidated Balance Sheet (Unit: Million yen) Previous Consolidated Fiscal Year (Ended March 31, 2011)
Consolidated Financial Statements (1) Consolidated Balance Sheet (Ended (Ended Assets Current assets Cash and deposits 27,057 34,440 Notes and accounts receivable-trade 4,538 3,595 Securities 3,654 11,967
More informationCambridge International Examinations Cambridge International Advanced Subsidiary and Advanced Level
Cambridge International Examinations Cambridge International Advanced Subsidiary and Advanced Level ACCOUNTING 9706/12 Paper 1 Multiple Choice October/November 2017 1 hour *5624311206* Additional Materials:
More informationACCOUNTING - HIGHER LEVEL (400 marks)
L.55 PRE-LEAVING CERTIFICATE EXAMINATION 2013 ACCOUNTING - HIGHER LEVEL (400 marks) TIME : 3 HOURS This paper is divided into 3 Sections: Section 1: Financial Accounting (120 marks). This section has four
More informationG.C.E. (A/L) Support Seminar Accounting - Paper I Marking Scheme
G.C.E. (A/L) Support Seminar 2015 Accounting Paper I Marking Scheme Question No. Answer No. Question No. Answer No. 1 2 16 4 2 3 17 3 3 5 18 4 4 4 19 4 5 1 20 4 6 5 21 2 7 4 22 1 8 1 23 1 9 3 24 4 10 1
More informationPLEASE READ THE FOLLOWING INSTRUCTIONS CAREFULLY
Time: 2 hours ACCOUNTING GRADE 12 Paper 1 200 marks PLEASE READ THE FOLLOWING INSTRUCTIONS CAREFULLY 1. This paper consists of 9 pages. Please check that your question paper is complete. 2. Read the questions
More information