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ACCOUNTING 0452/12 Paper 1 with Merged Marking Scheme February/March 2025

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For each of the parts (a) to (j) there are four possible answers, A, B, C and D. Choose the one you consider correct and place a tick () in the box to indicate the correct answer. 1 (a) Faraz buys and sells new and used motor vehicles. He purchased a used motor vehicle from Tahir for $7000 which he paid for by cheque. How would Faraz record this transaction? [1] (b) Kala had the following assets and liabilities on 1 February 2019. Assets Non-current assets $ ...

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  • uploaded  24-10-2024
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ACCOUNTING 0985/02 Paper 2 Structured Written Paper WITH MARKING SCHEME For examination from 2024

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Shahid is a trader. He maintains a full set of accounting records including a three-column cash book. On 1 August 2017 Shahid had the following balances in his cash book. $ Cash 50 Bank overdraft 7150 Shahid's transactions for August 2017 included the following. August 9 A cheque received in July for $362 from EN Supplies was dishonoured by the bank 18 Paid $54 by cheque for fuel of private motor vehicle 24 Received a cheque from Mariam to settle her debt o...

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ACCOUNTING Paper 1 Multiple Choice with MARKING SCHEME 0985/01 For examination from 2024

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What is the purpose of book-keeping? 2 A to interpret the double entry records B to prepare financial statements at regular intervals C to record all the financial transactions of the business D to summarise the financial position of the business 2 What are assets? A items that are bought for long-term use by a business B items that are expected to be turned into cash in the near future C items that are owned by or owed by a business D items that are owned by or owed to a bus...

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  • uploaded  19-10-2024
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ACCOUNTING 0985/22 Paper 2 Structured Written Paper with MARKING SCHEME October/November 2024

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Ayesha is a trader who maintains a full set of accounting records and prepares control accounts at the end of each month. She provided the following information for the month of August 2021. On 1 August $ Sales ledger control account debit balance 9 800 Sales ledger control account credit balance 420 Purchases ledger control account credit balance 7 700 Totals for the month Credit sales 88 850 Credit purchases 55 400 Cash purchases 1 860 Receipts from custom...

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ACCOUNTING Paper 1 Multiple Choice with MARKING SCHEME You must answer on the multiple choice answer sheet. You will need: Multiple choice answer sheet Soft clean eraser Soft pencil (type B or HB is recommended) 0985/12 October/November 2024

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Which statement is correct? 2 A The accountant prepares the trial balance and the book-keeper prepares the financial statements. B The accountant writes up the journals and the book-keeper writes up the ledger accounts. C The book-keeper writes up the journals and the accountant prepares the trial balance. D The book-keeper writes up the ledger accounts and the accountant prepares the financial statements. 2 Which formulas may be used for the accounting equation? 1 assets = own...

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ACCOUNTING 0985/22 Paper 2 Structured Written Paper with MARKING SCHEME October/November 2024

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Dev owns a business selling furniture. The following transactions took place during August 2020. Transaction Date Details $ 1 August 9 Sold goods on credit to Petra 675 2 14 Petra returned damaged goods to Dev 120 3 23 Banked cash sales 412 4 29 Petra settled her outstanding balance at 1 August by credit transfer after taking a cash discount of 5% On 1 August 2020, the balance on credit customer Petra’s sales ledger account was $940 debit. REQUIRED (a) Comple...

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ACCOUNTING 0985/22 Paper 2 Structured Written Paper with MARKING SCHEME

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Peter is a trader. The following transactions took place in April 2022. April 2 Cash sales, $410, were paid directly into the bank account 3 Paid $798 to Rahat, by cheque, in full settlement of a debt of $840 8 Paid $42 cash for a motor vehicle repair 15 Purchased goods, list price $320, on credit subject to a trade discount of 10%, from Rahat 18 Cash sales, $460 20 Paid $392 to Samir by telephone transfer, having deducted 2% cash discount from the amount due ...

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