3.5. Analysis and communication of accounting information
A subsection of Accounting, 9706, through 3. Financial accounting (A Level)
Listing 10 of 54 questions
For Examiner's Use Amah Retto's ledger accounts for the year ended 30 April 2008 showed the following balances: $ Premises at cost 250 000 Machinery at cost 52 000 Provision for depreciation on machinery at 1 May 2007 15 600 Provision for doubtful debts at 1 May 2007 Sales 243 000 Purchases 184 000 Sales returns 2 040 Purchases returns 1 980 Carriage inwards Carriage outwards Rent received 2 420 Discount allowed 1 800 Discount received 1 300 Electricity 2 100 General expenses 9 340 Stock at 1 May 2007 13 500 Debtors 9 000 Creditors 11 460 Bank (Credit) 8 260 Cash Drawings 18 600 Long-term loan at 11 % per annum 60 000 Capital ? Additional information at 30 April 2008 Stock was valued at $15 100. No interest had been paid or provided for on the loan, which had been taken out on 1 November 2007. Amah Retto's tenant had paid only eleven months' rent; one month's rent was due and unpaid. Electricity prepaid amounted to $40. General expenses accrued amounted to $50. Debts of $200 were to be written off. Depreciation was to be provided on machinery at 40 % using the reducing balance method. Doubtful debts provision was to be 3 % of debtors at the end of the year. For Examiner's Use REQUIRED Prepare Amah Retto's trading and profit and loss account for the year ended 30 April 2008. For Examiner's Use Prepare Amah Retto's balance sheet at 30 April 2008. For Examiner's Use Use the answers to and to calculate the following ratios to two decimal places. Current ratio; Liquid ratio; Rate of stock turnover; Gross profit as a percentage of sales; Net profit as a percentage of sales. For Examiner's Use State two reasons for calculating ratios. State four user groups who might be interested in or make use of accounting ratios.
9706_s08_qp_2
THEORY
2008
Paper 2, Variant 0
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The Klassik Music Society produced the following receipts and payments summary for the year ended 31 March 2013. Receipts $ Subscriptions 30 000 Sales of food and drink 50 000 Bank loan 30 000 Income from concerts 116 800 Sale of surplus equipment 30 000 Payments Balance, 1 April 2012 12 000 Purchase of new equipment 10 000 Hire of hall for concerts 27 000 Printing 14 000 Equipment maintenance and repairs 8 000 Purchases of food and drink 23 000 Salaries 45 000 Cost of concerts 83 500 Sundry expenses Sponsorship 1 000 Balance, 31 March 2013 ? Additional information: 31 March 2012 31 March 2013 $ $ Salaries in arrears 2 800 1 600 Subscriptions owing 1 600 2 600 Subscriptions prepaid 1 000 Printing accrued 2 600 2 800 Equipment (cost $200 000), at NBV 160 000 ? Food and drink inventory 15 400 13 200 The bank loan was received on 1 July 2012. Interest is charged at 12% per annum. No interest had been paid by the year end. The equipment sold was purchased on 1 June 2011 and had a NBV of $32 000. Depreciation is provided at 20% on cost for equipment in use at the year end. For Examiner's Use REQUIRED Prepare the trading section of the income statement for the year ended 31 March 2013. Calculate the gross profit percentage, to one decimal place, made on sales of food and drink. The prices of food and drink sold had been planned to obtain a gross margin of 70%. Compare this figure with the figure calculated in and state two reasons why these figures may differ. For Examiner's Use Prepare the income and expenditure account of the Klassik Music Society for the year ended 31 March 2013. For Examiner's Use Prepare the statement of financial position of the Klassik Music Society at 31 March 2013.
9706_s13_qp_21
THEORY
2013
Paper 2, Variant 1
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Questions Discovered
54