Post on 02-Oct-2020
BUSINESS, ACCOUNTING
AND FINANCIAL STUDIES
EXAMINATION 2014
PAPER 2A
Questions 1, 2, 5 and 6
Paper 2A Question 1
Paper 2A Question 1- Marking Scheme
Paper 2A Question 1 – Sample 1E
Very good, all entries and amounts correct
Narration omitted in journal entry
Paper 2A Question 1 – Sample 2E
Wrong amount of the decrease in allowance for
doubtful debts and no workings provided
Fair
Omission
of one entry
Paper 2A Question 1 – Sample 3C
非常好,全對
能正確計算出呆帳準備減少的數額
借方及貸方調亂入帳
沒有分錄說明
Paper 2A Question 1 – Sample 4C
某些項目
錯誤記錄在統制帳內
調亂入帳
沒有依從題目要求作答
Paper 2A Question 2
Paper 2A Question 2
Paper 2A Question 2 – Sample 1E
very good, all correct
Misinterpreted the date
of receiving
insurance
compensation
Paper 2A Question 2 – Sample 2E
Correct depreciation expense in 2011
Wrong useful life in calculating depreciation
expense in 2012 and 2013
Paper 2A Question 2 – Sample 2E
Inappropriate heading for journal entries
Wrong cost of the machine sold
No entry for accumulated depreciation
Paper 2A Question 2 – Sample 3C
非常好,全對
採用機器淨值的剩餘年份計折舊
累計折舊及機器入帳正確
缺少了應收保險賠償的入帳
錯誤計算意外損失的金額
Paper 2A Question 2 – Sample 4C
正確計算2011年折舊
錯誤累計2012 及 2013 年折舊
Paper 2A Question 2 – Sample 4C
機器入帳正確
保險賠償錯誤記入銀行存款帳
錯誤以「試算表」入帳
Paper 2A Question 5
REQUIRED:
(a) Prepare a statement to calculate the
partnership’s adjusted net profit for the
year ended 31 December 2013. (2 marks)
REQUIRED:
(b) Prepare the partnership’s
appropriation account for the year
ended 31 December 2013. (4 marks)
(c) Update the partners’ current
accounts in column form as at
31 December 2013. (5 marks)
Paper 2A Question 5 – Marking Scheme
Paper 2A Question 5 – Marking Scheme
Paper 2A Question 5 – Sample 1E
Well answered with profit adjustments clearly
demonstrated
Paper 2A Question 5 – Sample 1E
Amounts correctly calculated and labelled
Paper 2A Question 5 – Sample 1E
Good preparation of current account
Paper 2A Question 5 – Sample 2E
Overlooked the adjustment for interest accrual
Confused gross profit margin with mark-up
Wrong profit adjustment for goods sent on sale-or-
return basis
Paper 2A Question 5 – Sample 2E
Ignored dates of drawings
Wrong calculation of interest on drawings
Failed to distinguish between unpaid salary
$40,000 and annual salary $60,000 in profit
appropriations
Paper 2A Question 5 – Sample 2E
Wrong side for balance brought down for Abby
Failed to realize that $20,000 of partner’s salary
had been paid to Abby
Paper 2A Question 5 – Sample 3E
Wrongly recorded profit appropriations as profit
adjustments
Paper 2A Question 5 – Sample 3E
Debit and credit entries completely reversed
Paper 2A Question 5 – Sample 3E
Partners’ drawings omitted in the current accounts
Paper 2A Question 5 – Sample 4C
Paper 2A Question 5 – Sample 4C
Very good, (a) to (c) all correct
Paper 2A Question 5 – Sample 5C
Overlooked the quarterly adjustment for interest accrual
Wrong profit adjustment for goods sent on sale-or-
return basis
Paper 2A Question 5 – Sample 5C
Wrong additions/deductions for interest on capital
and interest on drawings
Wrong interest on drawings for Bobby
Add?
Less?
Paper 2A Question 5 – Sample 5C
Inappropriate descriptions for balances brought
down
Failed to realize that $20,000 of partner’s salary
had been paid to Abby
Paper 2A Question 6a
Paper 2A Question 6a – Marking Scheme
Paper 2A Question 6a– Sample 1E
Well answered
Failed to include the inventory loss in the expense
Paper 2A Question 6a – Sample 2E
Failed to use the gross profit ratios to find out the
inventory loss
Inventory loss recorded as expense but not included
in cost of goods sold
Could calculate
sales and
purchases
Paper 2A Question 6a – Sample 3E
Unable to calculate sales, purchases, inventory loss
and gross profits figures using the given ratios
Inventory loss not shown at all in the income statement
Paper 2A Question 6a – Sample 4C
Could get all the unknown figures properly
Paper 2A Question 6a – Sample 5C
Could calculate purchases but not sales, wrongly using sales margin and cost of goods sold to get the sales figures
Wrongly put advertising expenses under cost of goods sold
Calculated inventory loss but not included it in cost
of goods sold
Paper 2A Question 6b – Marking Scheme
Paper 2A Question 6b – Sample 1E
Well answered
Clear points with correct spelling of all key words
Paper 2A Question 6b – Sample 2E
First point: argument unclear
Second point: failed to indicate that staff morale is
qualitative and cannot be revealed by ratios
Paper 2A Question 6b – Sample 3C
Well-answered
Clear points with correct use of key words
Paper 2A Question 6b - Sample 4C
Unclear arguments
BUSINESS, ACCOUNTING
AND FINANCIAL STUDIES
EXAMINATION 2014
PAPER 2A
Questions 3, 4 and 7
Paper 2A Question 3
Paper 2A Question 3
(a) semi-variable
cost 半變動成本 半变动成本
(b) sunk cost 沉沒成本 沉没成本
(c) opportunity
cost 機會成本 机会成本
(d) fixed cost 固定成本 固定成本
Answer ~
Paper 2A Question 3
Paper 2A Question 3
Paper 2A Question 4 (a)
Paper 2A Question 4 (a) ~ Sample 1
Incorrect:
Not considering the product ratio.
Paper 2A Question 4 (a) ~ Sample 2
Incorrect:
Not considering the product ratio.
Paper 2A Question 4 (a) ~ Sample 3
Paper 2A Question 4 (a) ~ Sample 4
Paper 2A Question 4 (b)
Paper 2A Question 4 (b) ~ Sample 1
Incorrect:
Did not understand the concept of Margin
of Safety ~
?? Projected total contribution less
new total fixed cost
Paper 2A Question 4 (b) ~ Sample 2
Incorrect:
Did not understand the concept of
Margin of Safety
? Unit selling
price?
Paper 2A Question 4 (b) ~ Sample 3
Paper 2A Question 4 (b) ~ Sample 4
Paper 2A Question 7 (a) & (b)
Paper 2A Question 7 (a) & (b) ~
Sample 1
Incorrect:
(a) Misconception or careless mistake ???
(b) Not able to tell the reason
Paper 2A Question 7 (a) & (b) ~
Sample 2
Incorrect:
(a) Careless mistake ???
(b) Not able to tell the reason
?
Paper 2A Question 7 (a) & (b) ~
Sample 3
Paper 2A Question 7 (a) & (b) ~
Sample 4
Paper 2A Question 7 (c)
Paper 2A Question 7 (d)
from (c)
above
Paper 2A Question 7 (c) & (d) ~
Sample 1
Incorrect:
(c) Did not understand the meaning of
overheads
(d) Wrong answer from incorrect rate from
(c)
Paper 2A Question 7 (c) & (d) ~
Sample 2
Incorrect:
(c) Did not understand the meaning of
overheads
(d) Wrong answer from incorrect rate from
(c)
+ depreciation + other indirect
expenses
Paper 2A Question 7 (c) & (d) ~
Sample 3
Paper 2A Question 7 (c) & (d) ~
Sample 4
Paper 2A Question 7 (c) & (d) ~
Sample 4
Paper 2A Question 7 (e)
Paper 2A Question 7 (e) ~ Sample 1
Many candidates did not attempt
part (e)
Paper 2A Question 7 (e) ~ Sample 2
NO explanation
NO calculations
Paper 2A Question 7 (e) ~ Sample 3
Paper 2A Question 7 (e) ~ Sample 3
Paper 2A Question 7 (e) ~ Sample 4
Paper 2A Question 7 (e) ~ Sample 4
BUSINESS, ACCOUNTING
AND FINANCIAL STUDIES
EXAMINATION 2014
PAPER 2A
Section C 79
Paper 2A Question 8
80
Paper 2A Question 8(a)
Average
• No mention of relevance to decision-
making
• Not specifically referring to insignificant
value 81
Paper 2A Question 8(a)
Weak
• Relevant accounting principle but wrong
conclusion 82
Paper 2A Question 8(a)
Good
• 答案清晰準確 83
Paper 2A Question 8(a)
Weak
• 正確指出相關概念,但闡釋不適切
84
Paper 2A Question 8 (b)
85
Paper 2A Question 8(b)
Very Good
• Good presentation with detailed workings
86
Paper 2A Question 8(b)
a
b 87
Paper 2A Question 8(b)
Average
a) Mistook the NRV as the closing inventory
b) Inappropriate presentation of retained
profits
c) Overlooked the note about the entry of
application monies
c
88
Paper 2A Question 8(b)
a
b
(276,000-182,000-60) c
a
89
Paper 2A Question 8(b)
c
b
a
d
e 90
Paper 2A Question 8(b)
Weak
a) Ignored return inwards of $38,000 and misunderstood
that returns outwards of $23,600 were wrongly included
in the closing inventory
b) Mistakenly adjusted the COGS using the original cost
rather than reduction in the value of the damaged
inventory
c) Wrongly classified rubbish bin as non-current asset
d) Ignored capital balance in trial balance
e) Wrong amount of retained profits brought forward from
income statement
91
Paper 2A Question 8(b)
Good
• 大部分答案正確
92
Paper 2A Question 8(b)
Average
• 考生嘗試將拆解銷貨成本,逐項列出
93
Paper 2A Question 8(b)
94
Paper 2A Question 8(b)
Weak
• 退回超額認購股款誤以股票溢價計算
95
Paper 2A Question 8 (c)
96
Paper 2A Question 8(c)
Good
• Correct and clear answer
97
Paper 2A Question 8(c)
Weak
• Impact of debenture issue was misunderstood
98
Paper 2A Question 8(c)
Good
• 答案大致清晰合理
• 應明確指出非流動負債對公司償債能力的影響
99
Paper 2A Question 8(c)
Weak
• 用詞及概念混亂,營運資金與投資額混為一談
100
Paper 2A Question 9
101
Paper 2A Question 9
102
Paper 2A Question 9
103
Paper 2A Question 9(a)
Good
• Most entries are correct arriving at a
correct amount of closing balance 104
Paper 2A Question 9(b)
Good
• Could work out the original balance per bank
statement 105
Paper 2A Question 9(c)
Good
• Journal entries correctly and clearly
presented
106
Paper 2A Question 9(a)
Average
• Confused about the treatment of
dishonoured cheque in the the cash book
107
Paper 2A Question 9(b)
Average
• Inappropriate treatment of the uncredited
deposit 108
Paper 2A Question 9(c)
Average
• Failed to find out the correct amount of
earned income 109
Paper 2A Question 9(a)
Weak
• Improper descriptions for entries in the
cash at bank account 110
Paper 2A Question 9(b)
Weak
• Did not realise that the credit transfer was the
bank’s error.
Credit transfer $3,500
111
Paper 2A Question 9(c)
Weak
a) Incorrect treatment of free samples
b) Incorrect amount of prepaid rental expenses
c) Incorrect amount of the unearned maintenance
revenue
b
c
a
112
Paper 2A Question 9(a)
良好
• 大致能正確更新銀行存款帳,但有一項交易未有正確寫出相關的帳戶名稱
113
Paper 2A Question 9(b)
良好 114
Paper 2A Question 9(c)
良好
115
Paper 2A Question 9(a)
尚可 a) 部分帳項不正確 b) 部分交易未有正確寫出相關的帳戶名稱
a
b
116
Paper 2A Question 9(b)
滿意
• 誤將拒付支票記錄在銀行往來調節表中 117
Paper 2A Question 9(c)
尚可 118
Paper 2A Question 9(a)
欠佳
• 未貸記存款應在銀行往來調節表中處理 119
Paper 2A Question 9(b)
欠佳
a) 未能認清有關貸項轉帳實為銀行的錯誤記錄 b) 誤將拒付支票及未到期支票記錄在銀行往來調節表中
a
b
120
Paper 2A Question 9(c)
欠佳
a) 在更正將樣本誤作賒銷時,誤將日記分錄倒轉 b) 未能計算預付租金的正確金額 c) 未能正確計算及記錄未賺取的保養服務收益
a
b
c
121
Paper 2A Question 9
122
Paper 2A Question 9(d)
Good
• Correct and clear explanation
123
Paper 2A Question 9(d)
Average
• Could state the right accounting principle with
appropriate explanation
• Failed to explain the application clearly
124
Paper 2A Question 9(d)
良好 125
Paper 2A Question 9(d)
欠佳
126
Paper 2A Question 9
127
Paper 2A Question 9(e)
Average
• Could only provide one correct answer
128
Paper 2A Question 9(e)
Weak
• Failed to describe relevant transactions 129
Paper 2A Question 9(e)
良好
130
Paper 2A Question 9(e)
欠佳
• 未能描述相關交易
131