9706_s10_qp_11
A paper of Accounting, 9706
Questions:
30
Year:
2010
Paper:
1
Variant:
1
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7
The table shows information from the books of a business at 30 April 2010. details $ credit sales invoiced during financial year 79 000 goods sent to customers on 28 April 2010 and invoiced 4 May 2010 6 100 goods sent to customers during April 2010 on sale or return basis but not sold by 30 April 2010 8 300 What is the amount of sales for the year ended 30 April 2010?
3. Financial accounting (A Level)  →  3.1. Preparation of financial statements
1. Financial accounting (AS Level)  →  1.6. Analysis and communication of accounting information
3. Financial accounting (A Level)  →  3.5. Analysis and communication of accounting information
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11
A trial balance at 31 December shows: debit $ credit $ trade receivables control account 48 500 2 900 trade payables control account 3 600 34 800 It is then found that an invoice, $900, issued to a debtor on 27 December, has not been entered in the accounting records. What is the correct figure for trade receivables in the balance sheet at 31 December?
1. Financial accounting (AS Level)  →  1.2. The accounting system
3. Financial accounting (A Level)  →  3.1. Preparation of financial statements
Open
12
During the year ended 31 December, a sports club received $10 860 for subscriptions. The following further information is available. year ended 31 December start of year $ end of year $ subscriptions owing subscriptions received in advance 1 640 1 220 What is the figure for subscriptions in the Income and Expenditure Account for the year ended 31 December?
3. Financial accounting (A Level)  →  3.1. Preparation of financial statements
1. Financial accounting (AS Level)  →  1.2. The accounting system
4. Cost and management accounting (A Level)  →  4.3. Budgeting and budgetary control
Open
14
A company calculates factory profit at a mark-up of 20 % on the cost of production. The following information is available. $ inventory of finished goods at cost at 31 December 2007 40 000 cost of goods produced for the year to 31 December 2008 240 000 closing inventory of finished goods at cost plus factory profit at 31 December 2008 54 000 How much will be shown...
3. Financial accounting (A Level)  →  3.1. Preparation of financial statements
4. Cost and management accounting (A Level)  →  4.3. Budgeting and budgetary control
Open
15
The table shows transactions relating to an inventory item during a period. number of units per unit bought cost $16 sold selling price $25 Of the remaining units, 20 are damaged and can only be sold for $10 each. What is the profit for the period?
3. Financial accounting (A Level)  →  3.1. Preparation of financial statements
2. Cost and management accounting (AS Level)  →  2.2. Traditional costing methods
2. Cost and management accounting (AS Level)  →  2.1. Costs and cost behaviour
Open
16
X, Y and Z are in partnership sharing profits and losses in the ratio 5 : 2 : 3. Y is entitled to a salary of $18 000 per annum. Partners receive interest at 6 % per annum on their capital account balances at the start of the year. At the beginning of the year, capital account balances were: X $30 000 Y $22 000 Z $20 000 The net profit before salary and interest for the year is $140 000. What is Y’s share of the total profits?
1. Financial accounting (AS Level)  →  1.5. Preparation of financial statements
3. Financial accounting (A Level)  →  3.1. Preparation of financial statements
Open
18
A company is set up with an authorised share capital of $3 million. It plans to purchase immediately a factory for $1 million. Preliminary expenses will be $100 000 and the immediate requirement for working capital will be $800 000. It will also require new equipment costing $600 000 in 12 months time. What is the minimum amount the company needs to raise now?
3. Financial accounting (A Level)  →  3.1. Preparation of financial statements
1. Financial accounting (AS Level)  →  1.5. Preparation of financial statements
Open
19
At 1 January 2009 the capital structure of a company was as follows. $ issued share capital 100 000 ordinary shares of $1 each 100 000 share premium account 30 000 On 1 April 2009 the company made a rights issue of 20 000 shares of $1 each for $36 000. On 1 June 2009 a bonus issue of one share for every six in issue was made. The share premium account was used for this purpose. What is the balance on the share premium account at 31 December 2009?
1. Financial accounting (AS Level)  →  1.5. Preparation of financial statements
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