Accnt Samp

download Accnt Samp

of 29

Transcript of Accnt Samp

  • 7/23/2019 Accnt Samp

    1/29

    VCE Accounting 20132016

    Written examination

    Examination specifcations

    Overall conditions

    The examination will be sat at a time and date to be set annually by the Victorian Curriculum and Assessment

    Authority. VCAA examination rules will apply. Details of these rules are published annually in the VCE and

    VCAL Administrative Handbook.

    There will be 15 minutes reading time and 2 hours writing time.

    The examination will be marked by a panel appointed by the VCAA.

    The examination will contribute 50 per cent to the Study Score.

    Content

    The VCE Accounting Study Design 20132016is the document for the development of the examination. The

    study design includes the Characteristics of the Study (pages 1216). Questions will be based on the key

    knowledge and key skills that underpin the outcomes in Units 3 and 4. Students will be required to apply the

    knowledge and skills of the accounting processes undertaken in Units 3 and 4.

    Students will not be required to use information and communications technology (ICT) in the examination.

    Students will not be required to undertake calculations relating to fnancial indicators in the examination;

    however, the underpinning knowledge, interpretation and analysis associated with these indicators are

    examinable.

    Students will not be required to prepare graphical representations in the examination; however, the

    explanation and interpretation of graphical representations are examinable.

    Format

    The examination will consist of a series of short answer and extended response questions. These may include

    a variety of item types, including scenarios, questions with multiple parts, short answer questions and

    extended response questions.

    All questions in the examination will be compulsory.

    The total marks for the examination will be 100.

    The examination will be in the form of a question book and an answer book.

    Approved materials and equipment

    normal stationery requirements (pens, pencils, highlighters, erasers, sharpeners and rulers)

    one scientifc calculator

    Advice

    During the 20132016 accreditation period for the VCE Accounting Study Design, examinations will be

    prepared according to the examination specifcations above. The examination will assess a representative

    sample of the key knowledge and key skills from Unit 3 and Unit 4.

    VICTORIAN CURRICULUM AND ASSESSMENT AUTHORITY 2012

    July 2012

  • 7/23/2019 Accnt Samp

    2/29

    VCE Acounting (Specifcations and sample) July 2012 2

    The following sample examination is intended to demonstrate the format and type of questions that teachers

    and students can expect on the end-of-year Accounting examination. Teachers and students should be

    aware of the Characteristics of the Study, including accounting principles and qualitative characteristics, as

    described on pages 1216 of the study design.

    The VCAA does not publish answers for sample examinations.

    The following documents should be referred to in relation to the VCE Accounting examination.

    VCE Accounting Study Design 20132016 VCE Accounting Assessment Handbook 20132016

    VCAA Bulletin VCE, VCAL and VET

    It is recommended that students write in pencil when answering questions that involve calculations.

  • 7/23/2019 Accnt Samp

    3/29

    SAM

    PLE

    ACCOUNTING

    Written examination

    Day Date

    Reading time: *.** ** to *.** ** (15 minutes)

    Writing time: *.** ** to *.** ** (2 hours)

    QUESTION BOOK

    Structure of book

    Number of

    questions

    Number of questions

    to be answered

    Number of

    marks

    11 11 100

    Students are permitted to bring into the examination room: pens, pencils, highlighters, erasers,

    sharpeners, rulers and one scientic calculator.

    Students are NOT permitted to bring into the examination room: blank sheets of paper and/or white

    out liquid/tape.

    Materials supplied Question book of 10 pages.

    Answer book of 17 pages.

    Instructions

    Write your student numberin the space provided on the front page of the answer book.

    Answer all questions in the answer book.

    All written responses must be in English.

    At the end of the examination

    You may keep this question book.

    Students are NOT permitted to bring mobile phones and/or any other unauthorised electronic

    devices into the examination room.

    VICTORIAN CURRICULUM AND ASSESSMENT AUTHORITY 2012

    July 2012

    Victorian Certicate of Education

    Year

  • 7/23/2019 Accnt Samp

    4/29

    ACCNT EXAM QB (SAMPLE) 2 July 2012

    Question 3 continued

    Question 1 (2 marks)

    Denethe termdouble entry accounting system.

    Question 2 (11 marks)

    Mark Brown owns and operates Marks Mega Movers. He has provided his accountant with the following

    graph displaying details of his Non-Current Assets. He purchased them all on 1 July 2009.

    Historical Cost

    Depreciation 200910

    Depreciation 201011

    Depreciation 201112

    Depreciation 201213

    Accumulated Depreciation

    30 June 2013

    Construction

    Equipment

    Computer

    Equipment

    Tools and

    Equipment

    Fixtures and

    Fittings

    45000

    40000

    35000

    30000

    25000

    20000

    15000

    10000

    5000

    0

    a. Using the graph, identify and justify the selection of the depreciation method used for the Construction Equipment

    Fixtures and Fittings.

    4 marks

    b. Given that the Construction Equipment was depreciated using a rate of 30% per annum, calculate and

    show how the Construction Equipment would be reported in the Balance Sheet as at 30 June 2013.

    3 marks

    c. Mark stated we can change methods of depreciation next year if we want to. Using an accounting

    principle and a qualitative characteristic, explain whether this would be advisable.

    4 marks

    Question 3 (15 marks)

    Courtney Hayles is the owner of Hayles Home Entertainment, a business that sells home entertainment

    products. At 1 June 2013 the business had the following debtors.

    $

    J Simon 880

    M Avis 2 200

    3 080

  • 7/23/2019 Accnt Samp

    5/29

    July 2012 3 ACCNT EXAM QB (SAMPLE)

    TURN OVER

    Extracts of the Cash Receipts Journal and Sales Journal for June 2013 are provided below.

    Cash Receipts Journal

    Date

    2013

    Details Rec.

    No.

    Bank Disc.

    Exp.

    Debtors

    Control

    Cost of

    Sales

    Sales Sundries GST

    1 June Sales 234 1 320 800 1 200 120

    3 June J Simon 235 792 88 880

    9 June GST Clearing 236 3 600 3 600

    14 June Sales 237 1 650 1 000 1 500 150

    16 June S Slater 238 594 66 660

    21 June M Avis 239 1 000 1 000

    28 June Sales 240 1 320 800 1 200 120

    Totals to date 10 276 154 2 540 2 600 3 900 3 600 390

    Sales Journal

    Date

    2013

    Debtor Invoice

    Number

    Cost of

    Sales

    Sales GST Debtors

    Control

    4 June S Slater 123 400 600 60 660

    10 June J Simon 124 600 900 90 990

    19 June S Slater 125 300 450 45 495

    22 June J Simon 126 200 300 30 330

    Totals to date 1 500 2 250 225 2 475

    Additional information

    On 30 June, Courtney transferred $10 000 from her personal bank account to the business bank

    account (as noted on the Bank Statement).

    On 30 June, the business was advised that the amount outstanding for Debtor M Avis, should be

    written off (Memo 5).

    On 30 June, J Simon returned the goods he had purchased on 22 June, because they were faulty

    (CN 538).

    a. Record the additional information in the appropriate journals. Total the journals where appropriate.

    Narrations are notrequired.

    5 marks

    b. Complete the Debtors Subsidiary Ledger for Debtor J Simon as it would appear after all journals have

    been posted for June 2013.

    You arerequired to balance the account.

    4 marks

    c. Many businesses use control accounts and subsidiary ledgers in their accounting systems.

    Discuss the benets and limitations of using control accounts and subsidiary ledgers.

    6 marks

  • 7/23/2019 Accnt Samp

    6/29

    ACCNT EXAM QB (SAMPLE) 4 July 2012

    Question 4 continued

    Question 4 (19 marks)

    Chris Laurence owns and operates Chrissos Fitness Warehouse, a small business selling a variety of tness

    equipment.

    Features of the businesss accounting system include the following.

    The business sells to customers on both a cash and credit basis. Credit is offered to reliable customers at

    credit terms of 5/14, n/30. The perpetual method of stock recording and the FIFO cost assignment method

    are used. Stock is marked up at a rate of 50%.

    The business prepares nancial reports at the end of each month.

    Chris has recorded all transactions into the relevant journals. A summary of these is provided.

    Cash Payments Journal (summary)

    Date

    2013

    Details Chq.

    No.

    Bank Disc.

    Rev.

    Creditors

    Control

    Stock

    Control

    Wages Sundries GST

    30 June Totals to date 34 200 1 300 27 000 4 000 3 000 1 000 500

    Sales Journal (summary)

    Date

    2013

    Debtor Invoice

    Number

    Cost of

    Sales

    Sales GST Debtors

    Control

    30 June Totals to date 30 000 45 000 4 500 49 500

    Purchases Journal (summary)

    Date

    2013

    Creditor Invoice

    Number

    Stock

    Control

    GST Creditors

    Control

    30 June Totals to date 29 000 2 900 31 900

    Cash Receipts Journal (summary)

    Date

    2013

    Details Rec.

    No.

    Bank Disc.

    Exp.

    Debtors

    Control

    Cost of

    Sales

    Sales Sundries GST

    30 June Totals to date 39 300 700 18 000 12 000 20 000 2 000

    At the end of the reporting period, Chris realised that the following documents had not been recorded.

    CFW

    Invoice CFW234 Date:19 June 2013

    Charge to:Robs Gym

    Sale: 2 ZX7 Treadmills

    Amount GST Invoice

    $4200 $420 $4620

    Terms: 5/14, n/30

    CFW

    Memo 9

    Date:27 June 2013

    Instruction:1 ZX7 Treadmill, at a cost of $1500,was used at a recent tness expo and will now

    be used solely for advertising purposes.

    CFW

    Receipt 105

    Date:28 June 2013

    Details:Received payment in full from Robs

    Gym for invoice CFW234.

  • 7/23/2019 Accnt Samp

    7/29

    July 2012 5 ACCNT EXAM QB (SAMPLE)

    TURN OVER

    a. Explain what is meant by the FIFO cost assignment method.

    2 marks

    b. Updateand total the relevant journals with the information contained in the above documents.

    Narrations are notrequired.

    5 marks

    c. Explain why the stock referred to in Memo 9 should be treated as an expense.2 marks

    Following a physical count of the Model ZX7 Treadmills at 30 June 2013, Chris prepared the following

    memo.

    CFW

    Memo 10

    Date:30 June 2013

    Details:A physical stocktake showed 1 ZX7Treadmill on hand.

    Chris provided the following Stock Card for the ZX7 Treadmill.

    Stock Item: ZX7 Treadmill Supplier: Treadies

    Location: E4 Cost Assignment Method: FIFO

    Date

    2013

    Details IN OUT BALANCE

    Qty Cost Total Qty Cost Total Qty Cost Total

    1 June Balance 8 1 300 10 400

    8 June Inv. CFW230 4 1 300 5 200 4 1 300 5 200

    12 June Rec. 103 3 1 300 3 900 1 1 300 1 300

    18 June Inv. ZX42 4 1 500 6 000 1

    4

    1 300

    1 500

    1 300

    6 000

    d. Complete the Stock Card for ZX7 Treadmills with all relevant transactions up to and including

    30 June 2013.

    3 marks

    e. Prepare the General Journal entry to record the necessary adjusting entry for stock at 30 June 2013.

    A narration isrequired.

    3 marks

    f. Calculatethe Adjusted Gross Prot on the sale of ZX7 Treadmills for the month of June 2013.

    4 marks

  • 7/23/2019 Accnt Samp

    8/29

    ACCNT EXAM QB (SAMPLE) 6 July 2012

    Question 5 (5 marks)

    a. Dene net realisable value (NRV).

    2 marks

    b. Explain the effects on the nancial reports if a business fails to recognise NRV when valuing its stock.

    3 marks

    Question 6 (18 marks)

    Tim owns and operates a tool shop, Tims Tools. He has provided you with the following budgeted

    information from the cash journals for the year 1 July 2013 to 30 June 2014.

    Cash Receipts Journal

    Bank 311 200

    Discount Expense 1 700

    Debtors Control 180 900

    Cost of Sales 60 000

    Sales 120 000

    GST 12 000

    Cash Payments Journal

    Bank 159 500

    Discount Revenue 1 500

    Creditors Control 45 000

    Stock Control 24 000

    Wages 53 000

    Sundries

    Drawings 6 000

    Expenses 15 000

    Fixtures and Fittings 3 000

    Customs Duties 2 000

    Prepaid Rent Expense 8 000

    Accrued Wages 2 000

    GST 3 000

    Additional information (expected for year)

    Bank balance at 1 July 2013 was $26 800

    Credit Sales 50% greater than Cash Sales

    Stock marked up by 100%

    Stock Loss to be 3% of total sales

    Sales Returns to be 5% of total sales

    Accrued interest of $200 relating to a term deposit

    Wages owing 30 June 2014 estimated to be $3100

    Balance in Prepaid Rent expense will be $1000 as at 30 June 2014

    a. Prepare a Budgeted Income Statement for the year ending 30 June 2014.

    9 marks

    b. Prepare a Budgeted Cash Flow Statement for the year ending 30 June 2014.

    6 marks

    Tim is pleased with the level of expected prot and cash indicated by the budgets; however, he is concerned

    that these results will not be achieved in 12 months time.

    c. Explain how Tim could use these budgets to monitor his progress.

    3 marks

  • 7/23/2019 Accnt Samp

    9/29

    July 2012 7 ACCNT EXAM QB (SAMPLE)

    TURN OVER

    Question 7 (4 marks)

    A business owner has stated, I am not sure I want to make a prot this year. Last year I made a loss but my

    bank balance increased by $8900 despite having no new loans or capital contributions.

    Explain, giving twoexamples, how this could occur.

    Question 8 (8 marks)On 1 October 2013, Gen Domestics traded in its old delivery van for a new delivery van from Club Motors.

    The old delivery van was purchased at the beginning of 2007 for $28 000 and had a carrying value at

    1 October 2013 of $3500. Details of the purchase and trade-in for the new delivery van are documented in

    the invoice below.

    Club Motors

    Date 1 October 2013

    Invoice no. 79

    Sold to Gen Domestics

    DESCRIPTION $

    Delivery Van 42 000

    plus GST 4 200

    46 200

    Less trade-in 2 000

    TOTAL PRICE 44 200

    Terms: Net 30 days

    a. Show how the following accounts will appear in the General Ledger after all entries have been posted.

    Delivery Van

    Accumulated Depreciation Delivery Van

    Disposal of Delivery Van

    You are notrequired to balance the accounts.

    6 marks

    b. Explain, using the information from Gen Domestics, why the prot or loss on disposal of the van

    occurred.

    2 marks

  • 7/23/2019 Accnt Samp

    10/29

    ACCNT EXAM QB (SAMPLE) 8 July 2012

    Question 9 (6 marks)

    A business owner is concerned that her businesss cash ow and liquidity are deteriorating, so her accountant

    has provided some information regarding the businesss short-term nancial position.

    Indicator 2010 2011 2012

    Working Capital Ratio 2.15:1 2.25:1 2.79:1

    Quick Asset Ratio 1.42:1 1.05:1 0.79:1

    Creditors Turnover 17 days 16 days 15 days

    Stock Turnover 58 days 79 days 98 days

    Debtors Turnover 47 days 44 days 42 days

    The businesss credit terms have been 2/14, n/30 since 2009.

    Suppliers credit terms are all n/30.

    a. Explain how it is possible that the Working Capital Ratio trend is favourable while the Quick Asset

    Ratio trend is unfavourable.

    2 marksb. Suggest twotypes of information, other than nancial indicators, that could be useful to the business

    owner in analysing the performance of her business.

    2 marks

    c. State twostrategies, excluding additional advertising, that the business owner could implement to improve

    the Stock Turnover (that is, reduce Stock Turnover days) without affecting the Gross Prot margin.

    2 marks

  • 7/23/2019 Accnt Samp

    11/29

    July 2012 9 ACCNT EXAM QB (SAMPLE)

    TURN OVER

    Question 10 (8 marks)

    Belinda Brown commenced business on 1 January 2013 under the name of Bubble Baths. Her accountant

    provided the following Pre-adjustment Trial Balance at 30 June 2013.

    Bubble Baths

    Pre-adjustment Trial Balance as at 30 June 2013

    Account Debit Credit

    Capital 26 800

    Cash at Bank 12 360

    Cost of Sales 76 000

    Creditors Control 63 000

    Debtors Control 34 000

    Discount Expense 480

    Discount Revenue 800

    Drawings 32 800

    Freight Inward 1 000

    GST Clearing 20

    Interest Expense 2 400

    Loan 42 000

    Prepaid Advertising Expense 1 800

    Prepaid Sales Revenue 1 000

    Sales 152 000

    Shop Fittings 2 000

    Stock Control 77 500

    Vehicle 46 000

    Wages Expense 24 000

    297 980 297 980

    The accountant noted the following.

    The Prepaid Advertising Expense relates to six advertisements (one per month for six months) in Beautiful

    Bathrooms magazine, commencing June 2013.

    Wages incurred for the six-month period are $25 000.

    Prepaid Sales Revenue represents a deposit on a custom-made bath, which was delivered to the customer

    on 30 June 2013.

    a. Prepare General Journal entries to record these adjustments at 30 June 2013.

    Narrations are notrequired.

    6 marks

    b. Explain the relationship between the Going Concern principle and the need for balance day adjustments.

    2 marks

  • 7/23/2019 Accnt Samp

    12/29

    ACCNT EXAM QB (SAMPLE) 10 July 2012

    Question 11 (4 marks)

    Buckles and Belts has provided the following information, which was extracted from the Cash Flow

    Statement Variance Report for the month ended 31 October 2013.

    Budgeted Actual Variance Fav/Unfav

    Cash Sale of Vehicle 6 000 7 500 1 500 F

    Receipts from Debtors 95 000 90 000 5 000 U

    Loan (9 000) (8 000) 1 000 F

    Interest 300 375 75 U

    a. Referring to the extract above, state whether the interest is a cash inow or cash outow.

    Explain your answer.

    2 marks

    b. Explain how Buckles and Belts could use the information contained in the extract from the Cash Flow

    Statement Variance Report.

    2 marks

    END OF QUESTION BOOK

  • 7/23/2019 Accnt Samp

    13/29

    Instructions

    A question book is provided with this answer book.

    Answer all questions in the spaces provided in this book.

    Write your student numberin the space provided above on this page.

    Refer to Instructionson the front cover of the question book.

    Students are NOT permitted to bring mobile phones and/or any other unauthorised electronic

    devices into the examination room.

    VICTORIAN CURRICULUM AND ASSESSMENT AUTHORITY 2012

    July 2012

    ACCOUNTING

    Written examination

    Day Date

    Reading time: *.** ** to *.** ** (15 minutes)Writing time: *.** ** to *.** ** (2 hours)

    ANSWER BOOK

    SUPERVISOR TO ATTACH PROCESSING LABEL HERE

    Figures

    Words

    STUDENT NUMBER Letter

    Victorian Certicate of Education

    Year

  • 7/23/2019 Accnt Samp

    14/29

    ACCNT EXAM AB (SAMPLE) 2 July 2012

    This page is blank

  • 7/23/2019 Accnt Samp

    15/29

    July 2012 3 ACCNT EXAM AB (SAMPLE)

    Question 2 continued

    TURN OVER

    Question 1 (2 marks)

    Denition

    Question 2 (11 marks)

    a. 4 marks

    Construction EquipmentMethod of depreciation

    Fixtures and Fittings

    Method of depreciation

    Justication

    b. 3 marks

    Calculation

    Marks Mega Movers

    Balance Sheet (extract) as at 30 June 2013

    Non-Current Assets $ $

  • 7/23/2019 Accnt Samp

    16/29

    ACCNT EXAM AB (SAMPLE) 4 July 2012

    Question 3 continued

    c. 4 marks

    Explanation

    Question 3 (15 marks)

    a. 5 marks

    Cash Receipts Journal

    Date

    2013

    Details Rec.

    No.

    Bank Disc.

    Exp.

    Debtors

    Control

    Cost of

    Sales

    Sales Sundries GST

    1 June Sales 234 1 320 800 1 200 120

    3 June J Simon 235 792 88 880

    9 June GST Clearing 236 3 600 3 600

    14 June Sales 237 1 650 1 000 1 500 150

    16 June S Slater 238 594 66 660

    21 June M Avis 239 1 000 1 000

    28 June Sales 240 1 320 800 1 200 120

    Totals to date 10 276 154 2 540 2 600 3 900 3 600 390

  • 7/23/2019 Accnt Samp

    17/29

    July 2012 5 ACCNT EXAM AB (SAMPLE)

    Question 3 continued

    TURN OVER

    Sales Journal

    Date

    2013

    Debtor Invoice

    Number

    Cost of

    Sales

    Sales GST Debtors

    Control

    4 June S Slater 123 400 600 60 660

    10 June J Simon 124 600 900 90 990

    19 June S Slater 125 300 450 45 495

    22 June J Simon 126 200 300 30 330

    Totals to date 1 500 2 250 225 2 475

    General Journal

    Date2013

    Details General Ledger Subsidiary LedgerDebit Credit Debit Credit

  • 7/23/2019 Accnt Samp

    18/29

    ACCNT EXAM AB (SAMPLE) 6 July 2012

    b. 4 marks

    Debtor J Simon

    Date

    2013

    Cross-reference Amount Date

    2013

    Cross-reference Amount

    c. 6 marks

    Discussion

  • 7/23/2019 Accnt Samp

    19/29

    July 2012 7 ACCNT EXAM AB (SAMPLE)

    Question 4 continued

    TURN OVER

    Question 4 (19 marks)

    a. 2 marks

    Explanation

    b. 5 marks

    Cash Payments Journal (summary)

    Date2013

    Details Chq.No.

    Bank Disc.Rev.

    CreditorsControl

    StockControl

    Wages Sundries GST

    30 June Totals to date 34 200 1 300 27 000 4 000 3 000 1 000 500

    Sales Journal (summary)

    Date

    2013

    Debtor Invoice

    Number

    Cost of

    Sales

    Sales GST Debtors

    Control30 June Totals to date 30 000 45 000 4 500 49 500

    Purchases Journal (summary)

    Date

    2013

    Creditor Invoice

    Number

    Stock

    Control

    GST Creditors

    Control

    30 June Totals to date 29 000 2 900 31 900

  • 7/23/2019 Accnt Samp

    20/29

    ACCNT EXAM AB (SAMPLE) 8 July 2012

    Question 4 continued

    Cash Receipts Journal (summary)

    Date

    2013

    Details Rec.

    No.

    Bank Disc.

    Exp.

    Debtors

    Control

    Cost of

    Sales

    Sales Sundries GST

    30 June Totals to date 39 300 700 18 000 12 000 20 000 2 000

    General Journal

    Date

    2013

    Details General Ledger Subsidiary Ledger

    Debit Credit Debit Credit

    c. 2 marks

    Explanation

  • 7/23/2019 Accnt Samp

    21/29

    July 2012 9 ACCNT EXAM AB (SAMPLE)

    TURN OVER

    d. 3 marks

    Stock Item: ZX7 Treadmill Supplier: Treadies

    Location: E4 Cost Assignment Method: FIFO

    Date

    2013

    Details IN OUT BALANCE

    Qty Cost Total Qty Cost Total Qty Cost Total

    1 June Balance 8 1 300 10 400

    8 June Inv. CFW230 4 1 300 5 200 4 1 300 5 200

    12 June Rec. 103 3 1 300 3 900 1 1 300 1 300

    18 June Inv. ZX42 4 1 500 6 000 1

    4

    1 300

    1 500

    1 300

    6 000

    e. 3 marks

    General Journal

    Date

    2013

    Details General Ledger Subsidiary Ledger

    Debit Credit Debit Credit

    f. 4 marks

    Calculation

    Adjusted Gross Prot $

  • 7/23/2019 Accnt Samp

    22/29

    ACCNT EXAM AB (SAMPLE) 10 July 2012

    Question 5 (5 marks)

    a. 2 marks

    Denition

    b. 3 marks

    Explanation

  • 7/23/2019 Accnt Samp

    23/29

    July 2012 11 ACCNT EXAM AB (SAMPLE)

    Question 6 continued

    TURN OVER

    Question 6 (18 marks)

    a. 9 marks

    Tims Tools

    Budgeted Income Statement for the year ending 30 June 2014

    $ $

  • 7/23/2019 Accnt Samp

    24/29

    ACCNT EXAM AB (SAMPLE) 12 July 2012

    b. 6 marks

    Tims Tools

    Budgeted Cash Flow Statement for the year ending 30 June 2014

    $ $

    Question 6 continued

  • 7/23/2019 Accnt Samp

    25/29

    July 2012 13 ACCNT EXAM AB (SAMPLE)

    TURN OVER

    c. 3 marks

    Explanation

    Question 7 (4 marks)

    Explanation

  • 7/23/2019 Accnt Samp

    26/29

    ACCNT EXAM AB (SAMPLE) 14 July 2012

    Question 8 (8 marks)

    a. 6 marks

    Delivery Van

    Date

    2013

    Cross-reference Amount Date

    2013

    Cross-reference Amount

    Accumulated Depreciation Delivery Van

    Date

    2013

    Cross-reference Amount Date

    2013

    Cross-reference Amount

    Disposal of Delivery Van

    Date

    2013

    Cross-reference Amount Date

    2013

    Cross-reference Amount

    b. 2 marks

    Explanation

  • 7/23/2019 Accnt Samp

    27/29

    July 2012 15 ACCNT EXAM AB (SAMPLE)

    TURN OVER

    Question 9 (6 marks)

    a. 2 marks

    Explanation

    b. 2 marks

    Other information 1

    Other information 2

    c. 2 marks

    Strategy 1

    Strategy 2

  • 7/23/2019 Accnt Samp

    28/29

    ACCNT EXAM AB (SAMPLE) 16 July 2012

    Question 10 (8 marks)

    a. 6 marks

    General Journal

    Date

    2013

    Particulars General Ledger Subsidiary Ledger

    Debit

    $

    Credit

    $

    Debit

    $

    Credit

    $

    b. 2 marks

    Explanation

  • 7/23/2019 Accnt Samp

    29/29

    July 2012 17 ACCNT EXAM AB (SAMPLE)

    Question 11 (4 marks)

    a. 2 marks

    Cash Inow or Cash Outow

    Explanation

    b. 2 marks

    Explanation