9706_w16_qp_13
A paper of Accounting, 9706
Questions:
30
Year:
2016
Paper:
1
Variant:
3
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6
A company received the bank statement dated 30 June 2016 showing a credit balance of $6890. The cash book on this date had a debit balance of $7234. The following was discovered. Bank charges of $54 have not been entered in the cash book. Suppliers have not banked cheques of $200. Deposits of $490 made to the bank on 30 June 2016 have not been shown...
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
7
A trial balance includes a suspense account. The following errors are found. A payment for the telephone bill for $75 has been entered correctly in the bank account but as $750 in the telephone account. A payment from a customer for $175 has been entered correctly in the bank account but omitted from the sales ledger control account (SLCA) which forms part of the double entry system. Which journal entry corrects these errors?
1. Financial accounting (AS Level)  →  1.4. Reconciliation and verification
1. Financial accounting (AS Level)  →  1.2. The accounting system
Open
15
X and Y are in partnership sharing profits and losses in the ratio 3 : 2 respectively. Z was introduced as a partner. Goodwill was valued at $75 000 but is not to be retained in the books of account. Non-current assets were revalued from $300 000 to $250 000. The new profit sharing ratio will be 5 : 3 : 2 respectively. What was the net adjustment in Y’s capital account?
3. Financial accounting (A Level)  →  3.1. Preparation of financial statements
1. Financial accounting (AS Level)  →  1.5. Preparation of financial statements
1. Financial accounting (AS Level)  →  1.3. Accounting for non-current assets
Open
22
A business provided the following information. budgeted overheads $20 000 budgeted direct labour hours direct labour rate $20 per hour A job used materials costing $45 and 6 hours of direct labour. Overheads are charged on the basis of direct labour hours used. What was the cost of the job before adding any profit?
2. Cost and management accounting (AS Level)  →  2.1. Costs and cost behaviour
4. Cost and management accounting (A Level)  →  4.2. Standard costing
2. Cost and management accounting (AS Level)  →  2.2. Traditional costing methods
Open
27
A manufacturing business has two production departments: assembly and painting. The following information is available. assembly painting machinery at net book value ($) 150 000 100 000 machinery repair costs ($) 14 000 6 000 machine operating hours 60 000 15 000 number of machines The total machinery insurance cost for the year was $5000. How much insurance should be apportioned to the assembly department?
3. Financial accounting (A Level)  →  3.1. Preparation of financial statements
2. Cost and management accounting (AS Level)  →  2.2. Traditional costing methods
Open