INTI COLLEGE MALAYSIA CAMBRIDGE A - LEVEL PROGRAMME ACC111 : ACCOUNTING 1 SEMESTER EXAMINATION : APRIL 2003 SESSION
|
|
- Angel Alicia Anderson
- 5 years ago
- Views:
Transcription
1 111 / 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. 1. The accounting process involves all of the following except identifying economic transactions that are relevant to the business. communicating financial information to users by preparing financial reports. recording nonquantifiable economic events. analyzing and interpreting financial reports. 2. Owner s capital at the end of the period is equal to liabilities. drawings. owner s capital at the beginning of the period plus net income minus owner s capital at the beginning of the period plus net income minus net income. assets plus liabilities. 3. n account is a part of the financial information system and is described by all except which one of the following? n account has a debit and a credit side. n account is a source document. n account may be part of a manual or a computerized accounting system. n account has a title. 4. trial balance is a listing of transaction in a journal. the chart of accounts. general ledger accounts and balances. the totals from the journal pages.
2 111 / Page 2 of The periodicity assumption states that a transaction can only affect one period of time. estimates should not be made if a transaction affects more than one time period. adjustments to the enterprise s accounts can only be made in the time period when the business terminates its operations. the economic life of a business can be divided into artificial time periods. 6. The Valet Laundry ompany purchased $4,500 worth of laundry supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the laundry supplies indicated only $2,000 on hand. The adjusting entry that should be made by the company on June 30 is ebit Laundry Supplies Expense, $2,000; redit Laundry Supplies, $2,000. ebit Laundry Supplies Expense, $2,500; redit Laundry Supplies, $2,000. ebit Laundry Supplies, $2,500; redit Laundry Supplies Expense, $2,000. ebit Laundry Supplies Expense, $2,500; redit Laundry Supplies, $2, Working apital is a term meaning The amount of capital invested by the proprietor The excess of the current assets over the current liabilities The capital less drawings The total of Fixed ssets urrent ssets 8. Which of the statements below is not true? n adjusted trial balance should show ledger account balances. n adjusted trial balance can be used to prepare financial statements. n adjusted trial balance proves the mathematical equality of debits and credits in the ledger. n adjusted trial balance is prepared before all transactions have been journalized. 9. The information for preparing a trial balance on a work sheet is obtained from financial statements. general ledger accounts. general journal entries. business documents.
3 111 / Page 3 of Which of the following steps in the accounting cycle would not generally be performed daily? Journalize transactions. Post to ledger accounts. Prepare adjusting entries. nalyze business transactions. 11. Sales revenue less cost of goods sold is called gross profit. net profit. net income. marginal income. 12. Sales Returns and llowances account is not debited if a customer returns defective merchandise. receives a credit for merchandise of inferior quality. utilizes a prompt payment incentive. returns goods that are not in accordance with specifications. 13. cash discount is best described as a reduction in the sum to be paid If payment is made within a previously agreed period If payment is made by cash, not cheque If payment is made either by cash or cheque If purchases are made for cash, not on credit 14. Freight costs paid by a seller on the merchandise sold to customers will cause an increase in the selling expense of the buyer. in the operating expenses for the seller. to the cost of goods sold of the seller. to a contra-revenue account of the seller. 15. Which one of the following is not an objective of a system of internal controls? Safeguard company assets. Overstate liabilities in order to be conservative. Enhance the accuracy and reliability of accounting records.
4 111 / Page 4 of 12 Reduce the risks of errors. 16. The size of the petty cash fund is dependent on the wishes of the custodian of the fund. anticipated disbursements for the year. anticipated disbursements for a three to four-week period. the size of the regular cash account. 17. eposits in transit have been recorded on the company s books but not yet by the bank. have been recorded by the bank but not yet by the company. have not been recorded by the bank or the company. are checks from customers which have not yet been received by the company. 18. When the final accounts are prepared, the bad debts account is closed by a transfer to the alance sheet Profit and Loss ccount Trading ccount Provison for oubtful ebts ccount 19. provison for oubtful ebts is created When debtors become bankrupt When debtors cease to be in business To provide for possible bad debts To write off bad debts 20. Is it true that the trial balance totals should agree? No, there are sometimes good reasons why they differ Yes, except where the trial balance is extracted at the year end Yes, always No, because it is not a balance sheet 21. Which of the following is correct? Profit does not alter capital Profit reduces capital apital can only come from profit Profit increases capital
5 111 / Page 5 of company purchased land for $85,000 cash. Real estate brokers commission was $6,000 and $9,000 was spent for demolishing an old building on the land before construction of a new building could start. Under the cost principle, the cost of land would be recorded at $94,000. $85,000. $91,000. $100, Equipment was purchased for $12,000. Freight charges amounted to $500 and there was a cost of $1,500 for building a foundation and installing of the equipment. It is estimated that the equipment will have a $2,500 salvage value at the end of its 5-year useful life. epreciation expense each year using the straight-line method will be: $2,800. $2,300. $2,000. $1, plant asset cost $21,000 and is estimated to have a $3,000 salvage value at the end of its 8-year useful life. The annual depreciation expense recorded for the fourth year using the sum-of-the-years -digits method would be: $4,000. $2,500. $3,000. $2, The cost of an improvement that does not increase the useful life of a plant asset should be debited to an Expense account. debited to the sset account. debited to the ccumulated epreciation account. credited to the ccumulated epreciation account. 26. The book value of an asset is the difference between the replacement cost of the asset and its historical cost. cost of the asset and the amount of depreciation expense for the year. cost of the asset and the accumulated depreciation to date. proceeds received from the sale of the asset and its original cost.
6 111 / Page 6 of Intangible assets should be reported under the heading Property, Plant, and Equipment. are not reported on the balance sheet because they lack physical substance. should be reported as urrent ssets on the balance sheet. should be reported as a separate classification on the balance sheet. 28. partnership has only one owner. pays taxes on partnership income. must file an information tax return. is not an accounting entity for financial reporting purposes. 29. credit balance brought down on a Rent ccount means we owe that rent at that date we have paid that rent in advance at that date we have paid too much rent we have paid too little in rent 30. If we take goods for own use we should ebit rawings ccount: redit Purchases ccount ebit Purchases ccount: redit rawings ccount ebit rawings ccount: redit Stock ccount ebit Sales ccount: redit Stock ccount
7 111 / Page 7 of 11 Section : nswer LL questions from this section Question 1 The following is the trial balance of ivas Holding as at 31 ecember 19X4 ebit redit $ $ ank 1,100 apital 7,600 ash in hand 500 rawings 4,590 Electricity 468 Insurance 220 Returns iscounts arriage 440 Motor Vehicle 15,500 ccumulated depreciation - M.V. 2,500 Motor vehicle expense 180 Postage and stationery 97 Provision for doubtful debts 654 Purchases 16,000 Rates 360 Rent expense 500 Rental income 50 Sales 32,000 Stock 900 Sundry Expenses 256 reditor 2,200 ebtors 2,000 Wages 2,225 46,040 46,040 dditional information 1. The owner has used stamps worth $20, which were purchased by the firm and included in postage and stationery. 2. The rent is $50 per month, last rent was paid to the end of October. 3. Salaries of $45 were due to be paid to an employee. 4. Last rate payment was for six months ended 31 March 19X5 and amounted to $ ll insurance premiums are paid for a year in advance on 30 June and the last payment was $80 6. ivas Holding rent out retail space to a local trader, as at 31 ecember the trader owed the firm $ The closing stock $1, ½ of the carriage expenses is incurred in bringing goods purchased to ivas Holding warehouse.
8 111 / Page 8 of The depreciation on motor vehicles are charged at 25% cost. 10. The provision for doubtful debt should be $ bill in the amount of $150 for motor vehicle repair has been received but has not been recorded Required (a) Prepare the Trading and Profit and Loss Statement for the year ended 31 ecember 19X4. (10 marks) (b) Prepare the alance Sheet as at 31 ecember 19X4. (10 marks) Question 2 Part On 15 May 19X8, Mr.Lake received her monthly bank statement for the month ended 30 pril 19X8. The bank statement contained the following details: ate Particulars Payments Receipts alance $ $ $ 1 pr alance pr pr ank Giro credit pr pr harges pr pr pr pr Standing order pr Sundry credit pr pr pr ank Giro redit pr Sundry redit pr
9 111 / Page 9 of 12 For the corresponding period, Mr.Lake s own records contained the following bank account: ate etails $ ate etails heque $ No. 1 pr alance pr Purchases pr Sales pr Electricity pr Sales pr Purchases pr Sales pr Rent pr Sales pr Purchases pr Purchases pr Wages pr alance Required (a) (b) Prepare a statement reconciling the balance at 30 pril as given by the bank statement to the balance at 30 pril as stated in the bank account. (9 marks) Explain briefly which items in your bank reconciliation statement would require further investigation. (3 marks) Part (a) The following information has been extracted from the books of a trader at 1 July 19X6. $ mount owing by debtors 40,000 mount owing by creditors 31,200 The transactions during the year ended 30 June 19X7 were as follows: Returns inwards 15,750 Returns outwards 8,660 iscount received 3,187 iscount allowed 5,443 Sales 386,829 Purchases 222,954 ad debts written off 3,400 heques received from customers 230,040 heques paid to suppliers 108,999 Your are required to write up the sales ledger control account and the purchase ledger control account for the year ended 30 June 19X7. (4 marks) (b) Give 2 advantages of maintaining control accounts. (4 marks)
10 111 / Page 10 of 12 Question 3 Part G ook, a trader, keeps his fixed assets account at cost with separate provision for depreciation accounts. On 31 ecember Year 4, he bought: 1) motor lorry (Lorry No. 1), 10,000 2) motor car (ar No. 1), 8,000 3) Furniture, 6,000 On 6 February Year 5, ook bought furniture costing 2,000 for cash. On 31 ecember Year 5, the end of his financial year, he decided to provide annual depreciation as follows: (i) Motor lorries and motor cars at the rate of 20% per annum on cost by the straight line method. (ii) Furniture at the rate of 20% on book value by the reducing balance method. Note: There is no provision for depreciation for the year in which an assets is bought or sold. On 30 June Year 7, he bought a new motor car (ar No. 2) for 12,000, on credit from the Royal Motor ompany and was allowed 2,000 in part exchange for the firm s car (ar No. 1). On 31 October Year 7, he bought a new lorry (Lorry No. 2) for 22,000, on credit, from the New Transport ompany. On 1 September Year 8, he sold the original motor lorry (Lorry No. 1) for 5,000 cash. Required: (a) Motor lorries account (2 marks) (b) Motor cars account (2 marks) (c) Furniture account (1 mark) (d) Provision for depreciation of motor lorries account (3 marks) (e) Provision for depreciation of motor car account (3 marks) (f) Provision for depreciation of furniture account (5 marks) (g) sset disposal account (4 marks)
11 111 / Page 11 of 11 Part (a) (b) (c) Explain the difference between capital and revenue expenditure. Explain the nature of depreciation. escribe the data needed in order to compute depreciation. (4 marks) (3 marks) (3 marks) The End cc111apr03 / thiru / reformat
Paper 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 informationNATIONAL CERTIFICATE (VOCATIONAL) APPLIED ACCOUNTING (First Paper) NQF LEVEL 4 SUPPLEMENTARY 2010 ( ) 26 February (X-Paper) 09:00 12:00
NTIONL ERTIFITE (VOTIONL) PPLIE OUNTING (First Paper) NQF LEVEL 4 SUPPLEMENTRY 2010 (3011004) 26 February (X-Paper) 09:00 12:00 Non-programmable calculators may be used. This question paper consists of
More informationCAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Advanced Subsidiary Level and Advanced Level ACCOUNTING
MRIGE INTERNTIONL EXMINTIONS General ertificate of Education dvanced Subsidiary Level and dvanced Level OUNTING 9706/01 Paper 1 Multiple hoice May/June 2003 dditional Materials: Multiple hoice nswer Sheet
More information1 FAFN. You are allowed three hours to answer this question paper. All questions are compulsory.
Examination Question and Answer ook Write your full examination number, your contact I and your name on a double-sided card, which must be attached to this booklet here. Foundation Level Financial 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 May/June 2006 dditional Materials: Multiple
More informationPaper 1.1(INT) Preparing Financial Statements. (International Stream) PART 1 THURSDAY 4 DECEMBER 2003 QUESTION PAPER. Time allowed 3 hours
Preparing Financial Statements (International Stream) PRT 1 THURSY 4 EEMER 2003 QUESTION PPER Time allowed 3 hours This paper is divided into two sections Section Section LL 25 questions are compulsory
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 informationSection A ALL 35 questions are compulsory and MUST be answered. Section B BOTH questions are compulsory and MUST be answered.
REVISION MOK Financial ccounting June 2014 Time allowed 2 hours This paper is divided into two sections: Section LL 35 questions are compulsory and MUST be answered. Section OTH questions are compulsory
More informationMinistry of Manpower Directorate General of Technological Education NIZWA COLLEGE OF TECHNOLOGY DEPARTMENT OF BUSINESS STUDIES
Ministry of Manpower irectorate General of Technological Education NIZW OLLEGE OF TEHNOLOGY EPRTMENT OF USINESS STUIES STUENT NME STUENT I NO. SETION FINL EXMINTION Y 2015 2016, SEMESTER 1 OURSE OE: 2202
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 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 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 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 informationThis paper consists of TWENTY FIVE questions ONE long question (40 marks) and TWENTY FOUR objective test questions (60 marks).
ERTIFITE LEVEL EXMINTION SMPLE PPER 2 (90 MINUTES) OUNTING This paper consists of TWENTY FIVE questions ONE long question (40 marks) and TWENTY FOUR objective test questions (60 marks). This paper will
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 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 informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Ordinary Level
*2026916422* UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education Ordinary Level PRINIPLES OF OUNTS 7110/11 Paper 1 Multiple hoice May/June 2012 dditional Materials: Multiple hoice
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 informationPaper T3 (INT) Maintaining Financial Records (International Stream) Wednesday 9 December 2009
ertifi ed ccounting Technician Examination Intermediate Level Maintaining Financial Records (International Stream) Wednesday 9 ecember 2009 Time allowed: 2 hours This paper is divided into two sections:
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 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 informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Advanced Subsidiary Level and Advanced Level
*5023155209* UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education dvanced Subsidiary Level and dvanced Level OUNTING 9706/13 Paper 1 Multiple hoice October/November 2013 1 hour dditional
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Advanced Subsidiary Level and Advanced Level
*4604939511* UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education dvanced Subsidiary Level and dvanced Level OUNTING 9706/01 Paper 1 Multiple hoice October/November 2008 1 hour dditional
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Advanced Subsidiary Level and Advanced Level
*0858808304* UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education dvanced Subsidiary Level and dvanced Level OUNTING 9706/11 Paper 1 Multiple hoice October/November 2012 1 hour dditional
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 informationSoft clean eraser Soft pencil (type B or HB is recommended)
*3965380194* ambridge International Examinations ambridge Ordinary Level PRINIPLES OF OUNTS 7110/12 Paper 1 Multiple hoice May/June 2015 dditional Materials: Multiple hoice nswer Sheet Soft clean eraser
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 informationModule Title: Financial Accounting 2
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
More informationACCOUNTING. From the following information provided by the proprietor of the business, Jeremy, you are required to prepare:
Question 1 From the following information provided by the proprietor of the business, Jeremy, you are required to prepare: a. Trading and Profit and Loss Account for the year ended 31 December 20x1 (13
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Advanced Subsidiary Level and Advanced Level
UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education dvanced Subsidiary Level and dvanced Level OUNTING 9706/01 Paper 1 Multiple hoice May/June 2008 1 hour *1421697722* dditional
More informationPaper FA1. Recording Financial Transactions FOUNDATIONS IN ACCOUNTANCY. Pilot Paper. The Association of Chartered Certified Accountants
FOUNTIONS IN OUNTNY Recording Financial Transactions Pilot Paper Time allowed: 2 hours LL 50 questions are compulsory and MUST be attempted. Paper F1 o NOT open this paper until instructed by the supervisor.
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 informationBSc (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 informationSCHOOL OF ACCOUNTING AND BUSINESS BSc. (APPLIED ACCOUNTING) GENERAL / SPECIAL DEGREE PROGRAMME
All Rights Reserved Index No No. of Pages - 12 No of Questions - 08 SCHOOL OF ACCOUNTING AND BUSINESS BSc. (APPLIED ACCOUNTING) GENERAL / SPECIAL DEGREE PROGRAMME YEAR I SEMESTER I (INTAKE VI GROUP A)
More informationCambridge International Examinations Cambridge International Advanced Subsidiary and Advanced Level
*5449374996* ambridge International Examinations ambridge International dvanced Subsidiary and dvanced Level OUNTING 9706/12 Paper 1 Multiple hoice October/November 2015 1 hour dditional Materials: Multiple
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 informationObjective test questions are awarded 2 marks each. Explanations follow for answers to objective test questions involving calculations.
Objective test questions are awarded marks each. Explanations follow for answers to objective test questions involving calculations. Question. t 30 June 000, an electricity ledger account had an accrual
More informationRevision Exercise 7 EPSCAN A
Revision Exercise 7 EPSAN A 18. Which of the following statements about accounting are correct? (1) There are other financial statements apart from balance sheet and income statement. (2) Accounting is
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 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 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 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 informationLOYOLA COLLEGE (AUTONOMOUS), CHENNAI
LOYOLA COLLEGE (AUTONOMOUS), CHENNAI 600 034 B.Com. DEGREE EXAMINATION COMMERCE FIRST SEMESTER APRIL 2016 CO 1500 FINANCIAL ACCOUNTING Date: 02-05-2016 Dept. No. Max. : 100 Marks Time: 01:00-04:00 Answer
More informationNATIONAL CERTIFICATE (VOCATIONAL) APPLIED ACCOUNTING (Second Paper) NQF LEVEL 4 SUPPLEMENTARY EXAMINATION 2010
NTIONL ERTIFITE (VOTIONL) PPLIE OUNTING (Second Paper) NQF LEVEL 4 SUPPLEMENTRY EXMINTION 2010 (3011004) 3 March (X-Paper) 09:00 12:00 This question paper consists of 24 pages, a 3-page answer sheet and
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Advanced Subsidiary Level and Advanced Level
*2583619885* UNIVERSITY OF CMRIGE INTERNTIONL EXMINTIONS General Certificate of Education dvanced Subsidiary Level and dvanced Level CCOUNTING 9706/11 Paper 1 Multiple Choice October/November 2011 1 hour
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education
UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS International General ertificate of Secondary Education *3393387713* OUNTING 0452/01 Paper 1 Multiple hoice May/June 2008 dditional Materials: RE THESE INSTRUTIONS
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 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 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 informationACCOUNTANCY. Roll No. Please check that this question paper contains 24 questions and 7 printed pages. CLASS-XI
Roll No. Code : 112014-055- Please check that this question paper contains 24 questions and 7 printed pages. CLSS-XI CCOUNTNCY Time llowed: 3 hrs. Maximum Marks : 90 General Instructions : 1. Question
More informationSoft clean eraser Soft pencil (type B or HB is recommended)
*7990156511* ambridge International Examinations ambridge Ordinary Level PRINIPLES OF OUNTS 7110/12 Paper 1 Multiple hoice May/June 2018 dditional Materials: Multiple hoice nswer Sheet Soft clean eraser
More information(AA11) FINANCIAL ACCOUNTING BASICS
All Rights Reserved ASSOCIATION OF ACCOUNTING TECHNICIANS OF SRI LANKA AA1 EXAMINATION - JANUARY 2017 (AA11) FINANCIAL ACCOUNTING BASICS Instructions to candidates (Please Read Carefully): (1) Time allowed:
More informationFinancial Accounting
Drawings Assets expenses Capital Income Liabilities - Drawings - Capital - Assets - Income - Expenses - Liabilities Dt (Increases) Cr (Increases) Cr (decreases) Dt (decreases) Financial Accounting Financial
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Ordinary Level
*9032842789* UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education Ordinary Level PRINIPLES OF OUNTS 7110/12 Paper 1 Multiple hoice October/November 2013 dditional Materials: Multiple
More information: 1 : Time allowed : 3 hours Maximum marks : 100. Total number of questions : 8 Total number of printed pages : 8
Roll No : 1 : 153 Time allowed : 3 hours Maximum marks : 100 Total number of questions : 8 Total number of printed pages : 8 NOTE : Answer SIX questions including Question No.1 which is compulsory. All
More information*6363003894* ambridge International Examinations ambridge Ordinary Level PRINIPLES OF OUNTS 7110/12 Paper 1 Multiple hoice May/June 2014 dditional Materials: Multiple hoice nswer Sheet Soft clean eraser
More informationFINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING Roll No : 1 : 153 Time allowed : 3 hours Maximum marks : 100 Total number of questions : 8 Total number of printed pages : 8 NOTE : Answer SIX questions including Question No.1 which
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 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 informationEND-TERM EXAMINATION
(Please Write your Exam Roll No. immediately) Exam. Roll No... END-TERM EXAMINATION DECEMBER 2006 Exam Series code: 100415DEC06200459 Paper Code : MCA-109 Subject: Financial Accounting Time: 3 Hours Maximum
More information(AA11) FINANCIAL ACCOUNTING BASICS
All Rights Reserved ASSOCIATION OF ACCOUNTING TECHNICIANS OF SRI LANKA AA1 EXAMINATION - JANUARY 2019 (AA11) FINANCIAL ACCOUNTING BASICS Instructions to candidates (Please Read Carefully): (1) Time allowed:
More informationPaper Reference(s) 7011/01 London Examinations GCE. Friday 15 May 2009 Afternoon. Source booklet for use with Questions 1 to 6.
Paper Reference(s) 7011/01 London Examinations GCE Accounting Ordinary Level Friday 15 May 2009 Afternoon Source booklet for use with Questions 1 to 6. Do not return the insert with the question paper.
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Ordinary Level
*9934310559* UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education Ordinary Level PRINIPLES OF OUNTS 7110/11 Paper 1 Multiple hoice October/November 2013 dditional Materials: Multiple
More informationCambridge International Examinations Cambridge International Advanced Subsidiary and Advanced Level
*8386255606* ambridge International Examinations ambridge International dvanced Subsidiary and dvanced Level OUNTING 9706/13 Paper 1 Multiple hoice May/June 2015 dditional Materials: Multiple hoice nswer
More informationHIGHER SECONDARY I ST YEAR ACCOUNTANCY. TIME : 2 ½ Hours MARKS : 90 MODEL QUESTION PAPER PART - I
HIGHER SECONDARY I ST YEAR ACCOUNTANCY TIME : 2 ½ Hours MARKS : 90 MODEL QUESTION PAPER PART - I Answer all the questions. Choose the correct answer. 20 X 1 = 20 1. The Debts owing to others by business
More informationUnit 10 : YEAR-END ADJUSTMENTS
Unit 10 : YEAR-END ADJUSTMENTS Slide 1.2 INTRODUCTION The most important point, which must be understood at the outset, is that all these adjustments have an impact on both the income statement/profit
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 information[Time: Hours] 2. The cash book is used for recording the credit transaction of the business
Q.1) A) N.B: [Time: 2 1 2 Hours] Please check whether you have got the right question paper. 1. All Questions are compulsory carrying 15 marks each. 2. Working notes should form part of your answers wherever
More informationLOYOLA COLLEGE (AUTONOMOUS), CHENNAI
LOYOLA COLLEGE (AUTONOMOUS), CHENNAI 600 034 B.Sc. DEGREE EXAMINATION STATISTICS SECOND SEMESTER APRIL 2016 CO 2101 - FINANCIAL ACCOUNTING & FIN. STATE. ANALYSIS (05 th Batch) Date: 26-04-2016 Dept. No.
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 2013 (50) BASIC ACCOUNTING (1) This paper consists
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 informationUNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education Ordinary Level *2953491393* PRINIPLES OF OUNTS 7110/11 Paper 1 Multiple hoice May/June 2010 dditional Materials: RE THESE INSTRUTIONS
More informationCBA Model Question Paper CO2. The difference between an income statement and an income and expenditure account is that
CBA Model Question Paper CO2 Question 1 The difference between an income statement and an income and expenditure account is that A an income and expenditure account is an international term for a Income
More informationQuestion No: 17 ( Marks: 1 ) - Please choose one Which financial statement show what a business owes at a particular point in time?
Paper No:1 Solved by Chanda Rehman& Kamran Haider 2010 Final Paper Question No: 7 ( Marks: 1 ) - Please choose one Which of the following business publishes the Financial Statements? Sole-Proprietorship
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Advanced Subsidiary Level and Advanced Level
*9326809883* UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education dvanced Subsidiary Level and dvanced Level OUNTING 9706/12 Paper 1 Multiple hoice May/June 2012 1 hour dditional
More informationFINAL ACCOUNTS vis-à-vis Financial Statements. Samir K Mahajan
FINAL ACCOUNTS vis-à-vis Financial Statements Samir K Mahajan CLASSIFICATION OF FINAL ACCOUNT Trial balance proves the arithmetical accuracy of the business transactions, but it is not the end. The businessman
More informationPaper T6 (INT) Drafting Financial Statements (International Stream) Monday 6 June Certified Accounting Technician Examination Advanced Level
ertified ccounting Technician Examination dvanced Level rafting Financial Statements (International Stream) Monday 6 June 2011 Time allowed Reading and planning: Writing: 15 minutes 3 hours This paper
More informationCambridge International Examinations Cambridge International Advanced Subsidiary and Advanced Level
ambridge International Examinations ambridge International dvanced Subsidiary and dvanced Level www.xtremepapers.com OUNTING 9706/12 Paper 1 Multiple hoice October/November 2014 1 hour *4917415577* dditional
More informationCambridge International Examinations Cambridge International Advanced Subsidiary and Advanced Level
ambridge International Examinations ambridge International dvanced Subsidiary and dvanced Level OUNTING 9706/11 Paper 1 Multiple hoice October/November 2016 1 hour *1983058399* dditional Materials: RE
More informationIn chapter 9, you learnt about the preparation of
372 Accountancy Financial Statements - II 10 LEARNING OBJECTIVES After studying this chapter, you will be able to : describe the need for adjustments while preparing the financial statements; explain the
More informationClass-XI CBSE. Time : 3 hrs. Financial Accounting MM-90
Class-XI CBSE Time : 3 hrs. Financial Accounting MM-90 General Instructions (i) This question paper contains two parts A and B (ii) All question in both the parts are compulsory (iii) All parts of the
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Advanced Subsidiary Level and Advanced Level
*6400958462* UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education dvanced Subsidiary Level and dvanced Level OUNTING 9706/11 Paper 1 Multiple hoice May/June 2010 1 hour dditional
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 informationACCOUNTING STATE COMPETENCY TEST REVIEW
ACCOUNTING STATE COMPETENCY TEST REVIEW Source Documents Documents that are analyzed to determine what happened in a transaction Memorandum a note written by the company when there is no other source document
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 informationMGT101 FINANCIAL ACCOUNTING SOLVED QUIZZES 3 LESSON 1 30
MGT101 FINANCIAL ACCOUNTING SOLVED QUIZZES 3 LESSON 1 30 Wages paid to laborers working in the manufacturing department is treated as an expense of: Cost of goods sold Administrative expense Selling expense
More informationMTP_ Intermediate _Syllabus 2012_Dec2016_Set 1 Paper 5- Financial Accounting
Paper 5- Financial Accounting Academics Department, 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:
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 informationMGT101 All Solved Past Papers of Mid Term Exam in one file By
MGT101 All Solved Past Papers of Mid Term Exam in one file By http://vustudents.ning.com MIDTERM EXAMINATION 7 th Dec 2009 MGT101- Financial Accounting Question No: 1 Income of the business includes: Cash
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 informationCh.7 Accounting for a Merchandising Business: Purchases and Cash Payments
Ch.7 Accounting for a Merchandising Business: Purchases and Cash Payments 1 Procedures and forms used in purchasing merchandise Record credit purchases in a general journal and a purchases journal, and
More informationPrepared and solved by Cyberian www,vuaskari.com
Franchise rights, goodwill and patents are the examples of: Liquid assets Tangible assets Intangible assets Current assets Any expense that gives benefit for a period of less than twelve months is called.
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 informationWay to Success Model Question Paper
A Way to Success Model Question Paper (Based on new Question pattern 2019) AOUNTANY Time Allowed: 2.30 Hours] [ Maximum Marks: 90 Part I 20 x 1 = 20 hoose the most suitable answer from the given four alternatives
More information11.3 Ascertainment of Profit and Loss Preparing Trading and Profit and Loss Account and the Balance Sheet 444
CONTENTS FOREWORD iii Chapter 9 Financial Statements - I 331 9.1 Stakeholders and Their Information Requirements 331 9.2 Distinction between Capital and Revenue 333 9.3 Financial Statements 335 9.4 Trading
More informationFinal Accounts. PANCHAKSHARI S PROFESSIONAL ACADEMY PVT LTD (Your Lifelong Knowledge Partner ) c) A current liability d) Capital
Final Accounts 100 Questions 100 Marks 120 Minutes Select the best choice to answer the following questions: 1. Current assets include: a) Stock, debtors, prepayments b) Stock, debtors, accruals c) Stock,
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 informationCambridge International Examinations Cambridge International Advanced Subsidiary and Advanced Level
*3484335703* ambridge International Examinations ambridge International dvanced Subsidiary and dvanced Level OUNTING 9706/13 Paper 1 Multiple hoice October/November 2017 1 hour dditional Materials: Multiple
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 informationBOOKS OF ORIGINAL ENTRIES
BOOKS OF ORIGINAL ENTRIES These are the books of first entry. The transactions are first recorded in these books before being entered in the ledger books. These books are also called as books of Prime
More information