9706_s12_qp_12
A paper of Accounting, 9706
Questions:
30
Year:
2012
Paper:
1
Variant:
2
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5
A sole trader owns a vehicle valued at $4000 for his own use and a vehicle valued at $2500 for business use. On 1 April 2012 he sold the business vehicle. On the same date he bought a new vehicle for $8000 for his own use and transferred his old vehicle to the business. What is the change in the value of vehicles in the business accounts?
3. Financial accounting (A Level)  →  3.1. Preparation of financial statements
1. Financial accounting (AS Level)  →  1.3. Accounting for non-current assets
3. Financial accounting (A Level)  →  3.3. Business acquisition and merger
Open
7
The table shows details relating to a company’s banking transactions at 31 December. $ balance at bank as per bank statement 22 650 uncleared lodgements 3 110 unpresented cheques 6 290 bank credit recorded twice by bank in error Which balance for cash at bank should appear in the statement of financial position at 31 December?
1. Financial accounting (AS Level)  →  1.4. Reconciliation and verification
1. Financial accounting (AS Level)  →  1.5. Preparation of financial statements
3. Financial accounting (A Level)  →  3.1. Preparation of financial statements
Open
9
A manufacturing company has the following information for the year ended 31 December. $ purchase of raw materials 58 000 wages of machine operators 97 000 depreciation on factory plant 15 000 opening inventory of raw materials 10 000 closing inventory of raw materials 8 000 wages of factory supervisor 18 000 factory light and heating costs 22 000 What is the prime cost for the year?
2. Cost and management accounting (AS Level)  →  2.1. Costs and cost behaviour
3. Financial accounting (A Level)  →  3.1. Preparation of financial statements
Open
11
X and Y are in partnership sharing the profits equally. No goodwill account is maintained in the accounts. Z joins the partnership and pays $30 000 cash for his share of the goodwill. Profits are to be shared equally between X, Y and Z. What are the increases in the capital accounts on the admission of Z into the partnership?
3. Financial accounting (A Level)  →  3.1. Preparation of financial statements
1. Financial accounting (AS Level)  →  1.5. Preparation of financial statements
Open
18
For some years a business has given 2 % cash discount to its customers and lost 3 % of its inventory to pilferage by staff. On 1 January, the business changed the rate of cash discount to 5 % and introduced a new inventory control system that stopped the pilferage. Which effect do these changes have on the gross profit to sales ratio?
3. Financial accounting (A Level)  →  3.1. Preparation of financial statements
1. Financial accounting (AS Level)  →  1.3. Accounting for non-current assets
1. Financial accounting (AS Level)  →  1.4. Reconciliation and verification
Open
19
The table gives information about a company. year 1 $ year 2 $ revenue 150 000 200 000 cost of sales 105 000 130 000 45 000 70 000 administration and distribution expenses 27 000 47 500 profit from operations 18 000 22 500 non-current assets 120 000 110 000 net current assets 30 000 40 000 non-current liabilities (50 000) (10 000) What happened to gross profit margin and return on capital employed in year 2?
1. Financial accounting (AS Level)  →  1.3. Accounting for non-current assets
1. Financial accounting (AS Level)  →  1.6. Analysis and communication of accounting information
Open