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ACCOUNTING Paper 1 Multiple Choice with Merged 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

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1 Which are examples of book-keeping? 2 1 entering details of a cheque received from a customer in a cash book 2 entering details of goods purchased on credit in a purchases journal 3 producing an income statement to calculate the profit for the year 4 recording details of credit sales in the account of a credit customer A 1, 2 and 3 B 1, 2 and 4 C 1 and 2 only D 3 and 4 2 How does a trader use the information provided by financial statements? A to calculate the amount of cas...

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ACCOUNTING Paper 2 Structured Written Paper with Marking Scheme 0452/22

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1 Nazmeen started in business as a hairdresser on 1 January 2022. She purchases her hairdressing supplies on credit and uses the imprest system for her petty cash. Nazmeen’s assets and liabilities at 1 January 2022 were as follows: $ Motor vehicle 11 000 Balance at bank 2 300 Petty cash 200 Bank loan REQUIRED 2 500 (a) (i) Prepare the general journal entry to record the opening assets and liabilities at 1 January 2022. A narrative is required. Nazmeen Gene...

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ACCOUNTING Paper 1 Multiple Choice with Merged 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) 0452/12

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1 What is prepared by a book-keeper? 2 A appropriation account B cash book C income statement D statement of financial position 2 Which item is an asset? A an amount owing by credit customers B an amount owing to credit suppliers C interest accrued on bank loan D rent received in advance from tenant 3 Fatima required additional finance for her business and borrowed funds from Ali. This was deposited into the business bank account. How should Fatima record this? accoun...

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ACCOUNTING Paper 2 Structured Written Paper with Merged Marking Scheme 0452/22

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1 Shilpa is a trader. The following transactions took place in January 2021. January 2 Paid rent, $450, by direct debit 3 Bought goods on credit from Dilip, list price $120, subject to a trade discount of 25% 6 Sold goods on credit to Kabir, list price $200, subject to a trade discount of 20% 9 Sold surplus office fittings for $110 which was paid by credit transfer 10 Returned goods to Dilip, list price $20. These goods had been purchased on 3 January 11 Paid $50 to Dilip...

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ACCOUNTING Paper 1 Multiple Choice With Merged Marking Scheme 0452/12

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1 A business employs a book-keeper and an accountant. Which task would the accountant perform? A extracting balances from the ledger accounts to produce a trial balance B making entries in the general journal to adjust a provision for doubtful debts C preparing a monthly report that analyses the profitability of the company D recording sales and purchase invoices in the books of prime entry 2 What are assets? amounts owed to a business amounts owed by a business A no it...

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ACCOUNTING Paper 2 Structured Written Paper With Merged Marking Scheme 0452/22

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1 Amara maintains a petty cash book using the imprest system. The imprest amount of $200 is restored on the first day of each month. On 1 January 2020 Amara had a balance of $65 in her petty cash. All payments of less than $100 are made from petty cash. On 1 January 2020, Amara owed $85 to Razvan, a credit supplier. Amara provided the following information for January 2020. January 1 The petty cash imprest was restored from the business bank account. 3 Purchased stationery...

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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) 0452/12

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1 Which task would be carried out by a book-keeper but not an accountant? A comparing one year's results with those of previous years B interpreting the accounting records C preparing financial statements D recording transactions in the ledgers and cash book 2 A business provided the following information on 1 February 2019. non-current assets $ 75 000 current assets 40 000 current liabilities 25 000 The business made a profit of $10 000 for the year ended 31 January 2...

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ACCOUNTING Paper 2 With Marking Scheme 0452/22

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1 Narinder is a wholesaler who trades in handicrafts. He purchases all goods from local producers, paying by cheque at the time of purchase. Some goods are sold on credit terms to large retail stores and some goods are sold for cash to smaller stores. Narinder maintains a full set of accounting records. The following entries were made in Narinder’s cash book, sales journal and sales returns journal in January 2019. Narinder Cash Book Discount Cash Bank Cash Bank A...

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ACCOUNTING Paper 1 with Marking Scheme 0452/12

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There are 10 parts to Question 1. 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 20...

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