Examiner’s use only

Team Leader’s use only

Surname Initial(s)

Signature

Centre No.

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Paper Reference(s)

6001/01London Examinations GCEAccounting (Modular Syllabus)Advanced Subsidiary/Advanced LevelUnit 1: The Accounting System and CostingTuesday 2 June 2009 – MorningTime: 3 hours

Materials required for examination Items included with question papers

Nil Source booklet

Instructions to CandidatesIn the boxes above, write your centre number, candidate number, your surname, initial(s) and signature.Answer FIVE questions, choosing TWO from Section A and THREE from Section B.Indicate which question you are answering by marking the box ( ).If you change your mind, put a line through the box ( ) and then indicate your new question with a cross ( ).All calculations must be shown.Write your answers in the spaces provided in this question paper.Do not return the insert with the question paper.

Information for CandidatesThe marks for individual questions and the parts of questions are shown in round brackets: e.g. (2).The total mark for this paper is 200. There are 40 pages in this question paper. Any blank pages are indicated.Calculators may be used.The source material for use with questions 1 to 7 is in the enclosed source booklet.

Advice to CandidatesWrite your answers neatly and in good English.

Paper Reference

6 0 0 1 0 1

This publication may be reproduced only in accordance with Edexcel Limited copyright policy. ©2009 Edexcel Limited.

Printer’s Log. No.

M33446AW850/6001/57570 4/5/4/

*M33446A0140*

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*M33446A0�40*

SECTION A

Answer TWO questions from this section.

If you answer question 1, put a cross in this box ( ).

Source material for question 1 is on pages 2 and 3 of the source booklet.

1. (a) Calculate for the year ended 30 April 2009, the:

(i) sales

(ii) purchases.

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M33446A_Paper_GCE_Accounting_Uni3 3 11/11/2008 12:19:29

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*M33446A0440*

(b) Prepare for Rania the:

(i) trading and profit and loss account for the year ended 30 April 2009

(ii) balance sheet as at 30 April 2009.

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M33446A_Paper_GCE_Accounting_Uni4 4 11/11/2008 12:19:30

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M33446A_Paper_GCE_Accounting_Uni5 5 11/11/2008 12:19:30

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*M33446A0640*

(c) Explain the terms:

(i) day-work

(ii) piecework.

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M33446A_Paper_GCE_Accounting_Uni6 6 11/11/2008 12:19:30

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(d) Evaluate the decision of Rania to change the remuneration payment to her employees from day-work to piecework.

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....................................................................................................................................... (8) Q1

(Total 52 marks)

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*M33446A0�40*

If you answer question 2, put a cross in this box ( ).

Source material for question 2 is on pages 4 and 5 of the source booklet.

2. (a) Prepare the trading and profit and loss account of Sayeda for the year ended 30 April 2009.

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(b) Calculate for Sayeda the:• ‘mark up’ on cost• stock turnover• return on capital employed• debtors collection period (in days)• creditors payment period (in days).

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M33446A_Paper_GCE_Accounting_Uni9 9 11/11/2008 12:19:30

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*M33446A01040*

(c) (i) Explain the term profitability.

(ii) Comment upon the profitability of the business of Sayeda.

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M33446A_Paper_GCE_Accounting_Uni10 10 11/11/2008 12:19:30

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Sayeda is considering how to improve profitability. She proposes both of the following:• reduce prices by 20% • purchase lower quality goods for resale.

(d) Evaluate the proposal for Sayeda.

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M33446A_Paper_GCE_Accounting_Uni11 11 11/11/2008 12:19:30

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*M33446A01�40*

(e) (i) Identify the accounting concept or convention which forms the basis of the accountant’s rejection of each proposal 1 to 4.

(ii) Explain the reasons for the rejection of each proposal.

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M33446A_Paper_GCE_Accounting_Uni12 12 11/11/2008 12:19:30

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(Total 52 marks)

M33446A_Paper_GCE_Accounting_Uni13 13 11/11/2008 12:19:30

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*M33446A01440*

If you answer question 3, put a cross in this box ( ).

Source material for question 3 is on pages 6 and 7 of the source booklet.

3. (a) (i) Distinguish between bad debts and a provision for doubtful debts.

(ii) Identify one accounting concept which is applied when a provision for doubtful debts is created.

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M33446A_Paper_GCE_Accounting_Uni14 14 11/11/2008 12:19:30

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(b) Prepare the journal to record the correction of the errors.(Narratives are not required.)

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M33446A_Paper_GCE_Accounting_Uni15 15 11/11/2008 12:19:30

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*M33446A01640*

(c) Prepare the following accounts for the year ended 30 April 2009 showing the transfer to the final accounts and the balance carried down.

(i) Provision for doubtful debts account

(ii) Electricity account

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M33446A_Paper_GCE_Accounting_Uni16 16 11/11/2008 12:19:30

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(d) Prepare the trading and profit and loss account of Tejal for the year ended 30 April 2009.

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M33446A_Paper_GCE_Accounting_Uni17 17 11/11/2008 12:19:30

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*M33446A01�40*

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Tejal has decided to change her basis of stock valuation for the next financial year from the First In First Out (F.I.F.O.) periodic to the Last In First Out (L.I.F.O.) perpetual.

(e) Evaluate the implications of Tejal’s decision.

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(Total 52 marks)TOTAL FOR SECTION A: 104 MARKS

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*M33446A0�040*

SECTION B

Answer THREE questions from this section.

If you answer question 4, put a cross in this box ( ).

Source material for question 4 is on pages 8 and 9 of the source booklet.

4. (a) Prepare for the year ended 31 December 2008, the:

• profit and loss appropriation account of Eleni and Gianna.

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• current accounts of Eleni and Gianna.

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M33446A_Paper_GCE_Accounting_Uni21 21 11/11/2008 12:19:31

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*M33446A0��40*

(b) Prepare as at 1 January 2009, the:

• Journal entries recording the entry of Michalis to the partnership.

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• Balance sheet of the new partnership.

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M33446A_Paper_GCE_Accounting_Uni23 23 11/11/2008 12:19:31

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*M33446A0�440*

(c) Evaluate the decision of Michalis to become a partner of the business. Your answer should consider one financial and one non-financial factor.

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.......................................................................................................................................(4) Q4

(Total 32 marks)

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BLANK PAGE

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*M33446A0�640*

If you answer question 5, put a cross in this box ( ).

Source material for question 5 is on pages 10 and 11 of the source booklet.

5. (a) Explain the terms fixed cost and variable cost, giving an example of each from(i) to (ix).

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(b) Calculate the:

• profit or loss of Hanif’s business for the year ended 30 April 2009

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M33446A_Paper_GCE_Accounting_Uni27 27 11/11/2008 12:19:31

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*M33446A0��40*

• cost of making one picnic table, including the time spent by Hanif in manufacture.

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(c) Calculate, for Hanif, the liquid (acid test) ratio at 30 April 2009.

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(d) Evaluate the decision of Hanif to commence self-employment making picnic tables.

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(Total 32 marks)

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*M33446A03040*

If you answer question 6, put a cross in this box ( ).

Source material for question 6 is on pages 12 and 13 of the source booklet.

6. (a) Distinguish between allocation and apportionment in overhead recovery.

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(b) (i) Apportion the unallocated costs between the departments using the basis of apportionment that is most appropriate from the information provided. Determine the total overhead cost for each department.

(ii) Re-allocate the costs of the service department (Administration) and calculate the absorption rates per hour for each of the production departments.

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*M33446A03�40*

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If the actual figures for the Assembly department in the year were:Actual assembly hours 14 800Actual assembly overhead £77 500

(c) Calculate for the Assembly department, the over or under recovery of overhead for the year.

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(d) Evaluate apportionment as a means of recovering overhead costs.

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If you answer question 7, put a cross in this box ( ).

Source material for question 7 is on page 14 of the source booklet.

7. (a) Prepare for Sadiq the purchases ledger control account for the year.

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(b) Advise Sadiq whether his employee has carried out a fraud.

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(c) Evaluate the extent to which control accounts will detect fraud in a business.

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(d) Prepare the trading account of Sadiq for the year ended 30 April 2009.

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(e) Calculate the value of the stock destroyed in the fire at the warehouse.

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(Total 32 marks)

TOTAL FOR SECTION B: 96 MARKSTOTAL FOR PAPER: 200 MARKS

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