9706_w12_qp_11
A paper of Accounting, 9706
Questions:
30
Year:
2012
Paper:
1
Variant:
1
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8
Alfredo received his bank statement which showed a balance of $937 overdrawn. This did not agree with his cash book. On investigation he noted the following. • Bank charges of $76 had not been entered in the cash book. • There was an unpresented cheque of $214. • Alfredo had paid $35 cash into his bank account but this was not showing on the statement. At which value was the bank overdraft shown...
3. Financial accounting (A Level)  →  3.1. Preparation of financial statements
1. Financial accounting (AS Level)  →  1.4. Reconciliation and verification
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14
X and Y are in partnership. Their income statement and appropriation account shows the following. $ depreciation of non-current assets 5 000 interest on loan from Y interest on capital 2 400 interest charged on drawings partners’ salaries 5 000 residual profit 12 000 What is the profit for the year before any appropriations?
1. Financial accounting (AS Level)  →  1.5. Preparation of financial statements
3. Financial accounting (A Level)  →  3.1. Preparation of financial statements
Open
16
A company commences business on 1 April. It buys the following units of inventory. date quantity unit cost 1 April $250 1 September $200 1 December $300 During the year, it sells 500 units at $550 each. What is the gross profit for the year using the FIFO method of inventory valuation?
2. Cost and management accounting (AS Level)  →  2.1. Costs and cost behaviour
3. Financial accounting (A Level)  →  3.1. Preparation of financial statements
2. Cost and management accounting (AS Level)  →  2.2. Traditional costing methods
Open
18
A business buys a vehicle for $10 000 on 1 January Year 1 and sells it for $6500 on 1 January Year 3, having depreciated it at 10 % a year using the straight line method. The company provides a full year’s depreciation in the year of purchase and none in the year of disposal. Which amount for profit or loss will appear in the disposal account and on what side of the disposal account will it be shown...
1. Financial accounting (AS Level)  →  1.3. Accounting for non-current assets
3. Financial accounting (A Level)  →  3.1. Preparation of financial statements
Open
22
A company has the following year end information. $000 credit purchases credit sales total purchases total sales trade payables trade receivables How long does the company take to pay its trade suppliers?
3. Financial accounting (A Level)  →  3.5. Analysis and communication of accounting information
4. Cost and management accounting (A Level)  →  4.3. Budgeting and budgetary control
1. Financial accounting (AS Level)  →  1.6. Analysis and communication of accounting information
Open
23
The following information is extracted from a company's financial statements. income statement $000 profit from operations finance charges (20) taxation (70) profit for the year statement of financial position $000 net assets 1 000 non-current liabilities (100) share capital and reserves What is the return on total capital employed?
1. Financial accounting (AS Level)  →  1.3. Accounting for non-current assets
1. Financial accounting (AS Level)  →  1.5. Preparation of financial statements
Open
29
A hospital budgets for overheads totalling $11 500 000 for a financial year. It expects to treat 25 000 patients in the year. Each patient stays an average of 10 days and the hospital absorbs overheads on a patient /day basis. Its direct costs for the year are budgeted at $25 000 000. What is its overhead absorption rate per patient day?
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