Embed Size (px)
Citation preview
Examiner’s use only
Team Leader’s use only
Surname Initial(s)
Signature
Centre No.
Turn over
Candidate No.
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 questions 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 100.This paper has 7 questions. 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.
Question Leave Number Blank
1
2
3
4
5
6
7
Total
Do not use pencil. Use blue or black ink. (GCSE ONLY)Some questions must be answered with a cross in a box ( ).If you change your mind about an answer, put a line through the box ( ) and then mark answer with a cross ( ).
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 a cross ( ).
Paper Reference(s)
6441/01Edexcel GCEFrenchAdvanced Subsidiary/AdvancedUnit 1: Listening and Writingxxday xx January 2007 – MorningTime: 1 hour
Materials required for examination Items included with question Nil Nil
Paper Reference(s)
6001/01London Examinations GCEAccounting (Modular Syllabus)Advanced Subsidiary/Advanced LevelUnit 1: The Accounting System and CostingWednesday 6 June 2007 – AfternoonTime: 3 hours
Materials required for examination Items included with question papersNil Source booklet
Paper Reference
6 0 0 1 0 1
This publication may be reproduced only in accordance with Edexcel Limited copyright policy. ©2007 Edexcel Limited.
Printer’s Log. No.
M25714AW850/6001/57570 5/5/5/5/
*M25714A0120*
Acc153759_M25714A_AS_GCE_Account1 1 12/12/2006 08:19:22
Leave blank
2
*M25714A0220*
SECTION A
Answer TWO questions from this section
If you answer question 1, put a cross in this box ( ).
Source material for use with question 1 can be found on pages 2 and 3 of the source booklet.
1. (a) Prepare the:
(i) book trading account for the year ended 30 April 2007 (below);
(ii) income and expenditure account for the year ended 30 April 2007 (on page 3);
(iii) balance sheet as at 30 April 2007 (on page 4).
Book Trading Account for the year ended 30 April 2007
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
Acc153759_M25714A_AS_GCE_Account2 2 16/10/2006 15:18:34
Leave blank
3
Turn over*M25714A0�20*
Income and Expenditure Account for the year ended 30 April 2007
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
Acc153759_M25714A_AS_GCE_Account3 3 16/10/2006 15:18:34
Leave blank
4
*M25714A0420*
Balance Sheet as at 30 April 2007
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................(16)
Acc153759_M25714A_AS_GCE_Account4 4 16/10/2006 15:18:34
Leave blank
5
Turn over*M25714A0520*
The policy of the Club is that all books held in stock for more than three months are valuedThe policy of the Club is that all books held in stock for more than three months are valued at the lower of cost or net realisable value.
(b) Explain the term net realisable value.
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................(2)
(c) Explain why the application of the accruals (matching) concept will be important in determining how the redecoration of the premises and the extension to the premises will be treated in the income and expenditure account.
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
....................................................................................................................................... (4)
(d) Evaluate the decision of the Club to offer ten year subscriptions at a reduced rate.
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................(4) Q1
(Total 26 marks)
Acc153759_M25714A_AS_GCE_Account5 5 16/10/2006 15:18:34
Leave blank
�
*M25714A0�20*
If you answer question 2, put a cross in this box ( ).
Source material for use with question 2 can be found on pages 4 and 5 of thesource booklet.
2. (a) Prepare for the year ended 30 April 2007, the:
(i) Manufacturing account, showing the production cost of the Regular and Premium;
(ii) Premium production line – machinery account; (iii) Premium production line – provision for depreciation account; (iv) Machinery disposal account.
Manufacturing Account for the year ended 30 April 2007
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
Acc153759_M25714A_AS_GCE_Account6 6 12/12/2006 08:19:40
Leave blank
7
Turn over*M25714A0720*
Machinery Account
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
Machinery – Provision for Depreciation Account
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
Disposal Account
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................(16)
Acc153759_M25714A_AS_GCE_Account7 7 16/10/2006 15:18:34
Leave blank
�
*M25714A0�20*
(b) Explain three characteristics of overhead expenses.
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................(6)
(c) Evaluate the benefits of using straight line depreciation for production machinery rather than using reducing balance.
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................(4) Q2
(Total 26 marks)
Acc153759_M25714A_AS_GCE_Account8 8 12/12/2006 08:20:02
Leave blank
�
Turn over*M25714A0�20*
If you answer question 3, put a cross in this box ( ).
Source material for use with question 3 can be found on pages 6 and 7 of the source booklet.
3. (a) Prepare the journal entries, recording the correction of errors (i) to (v). (Narratives are not required.)
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................(8)
Acc153759_M25714A_AS_GCE_Account9 9 12/12/2006 08:20:02
Leave blank
10
*M25714A01020*
(b) Prepare, incorporating any adjustments required from (a), and showing the balance at 30 April 2007, the:
(i) purchases ledger control account;
(ii) sales ledger control account.
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................(10)
Acc153759_M25714A_AS_GCE_Account10 10 16/10/2006 15:18:34
Leave blank
11
Turn over*M25714A01120*
(c) (i) Explain two limitations of the trial balance.
................................................................................................................................
................................................................................................................................
................................................................................................................................
................................................................................................................................(2)
(ii) Distinguish between errors of principle and errors of reversal.
................................................................................................................................
................................................................................................................................
................................................................................................................................
................................................................................................................................(2)
(d) Evaluate the contribution of control accounts in ensuring that the debtors and creditors accounts are always accurate.
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................(4)
TOTAL FOR SECTION A: 52 MARKS
Q3
(Total 26 marks)
Acc153759_M25714A_AS_GCE_Account11 11 12/12/2006 08:20:23
Leave blank
12
*M25714A01220*
SECTION B
Answer THREE questions from this section
If you answer question 4, put a cross in this box ( )� )�)�
Source material for use with question 4 can be found on pages 8 and 9 of the source booklet�
4� (a) Prepare for the dissolution of the partnership, the:
(i) realisation account;
(ii) capital accounts of Gill and Hameed;
(iii) bank account.
Realisation Account
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
Capital Accounts
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
Acc153759_M25714A_AS_GCE_Account12 12 12/12/2006 08:20:23
Leave blank
13
Turn over*M25714A01�20*
Bank Account
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................(8)
(b) Explain:
(i) the term goodwill;
(ii) why goodwill would be entered into the books when the partnership is being dissolved.
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
....................................................................................................................................... (6)
Acc153759_M25714A_AS_GCE_Account13 13 16/10/2006 15:18:35
Leave blank
14
*M25714A01420*
(c) Evaluate the need for a formal Partnership Agreement when trading as a partnership.
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
....................................................................................................................................... (2) Q4
(Total 16 marks)
Acc153759_M25714A_AS_GCE_Account14 14 16/10/2006 15:18:35
Leave blank
15
Turn over*M25714A01520*
If you answer question 5, put a cross in this box ( ).
Source material for use with question 5 can be found on pages 10 and 11 of the source booklet.
5. (a) Calculate for both Jameel and Kalid the:
(i) gross profit to sales percentage;
(ii) rate of stock turnover;
(iii) fixed assets to sales;
(iv) current ratio;
(v) liquid (acid test) ratio.
Gross Profit to Sales Percentage
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
Rate of Stock Turnover
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
Fixed Assets to Sales
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
Current Ratio
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
Liquid (Acid Test) Ratio
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................(8)
Acc153759_M25714A_AS_GCE_Account15 15 20/11/2006 08:13:05
Leave blank
16
*M25714A01620*
(b) Explain the term profitability.
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
....................................................................................................................................... (2)
(c) In each of (i) and (ii) below, identify two differences between the businesses of Jameel and Kalid from the point of view of:
(i) a customer visiting both retailers’ premises;
(ii) a creditor of both retailers.
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................(4)
(d) Evaluate the usefulness of accounting ratios in assessing the success of a business.
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
....................................................................................................................................... (2) Q5
(Total16marks)
Acc153759_M25714A_AS_GCE_Account16 16 20/11/2006 08:13:18
Leave blank
17
Turn over*M25714A01720*
If you answer question 6, put a cross in this box ( ).
Source material for use with question 6 can be found on pages 12 and 13 of the source booklet.
6. (a) Explain each of the following terms, using an example:
(i) fixed cost;
(ii) semi-fixed cost.
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................(4)
(b) Calculate for the year, the daily cost to:
(i) hire the mini digger on its own;
(ii) hire the mini digger together with Greg as the operator.
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
Acc153759_M25714A_AS_GCE_Account17 17 16/10/2006 15:18:35
Leave blank
18
*M25714A01820*
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................(6)
(c) (i) Comment on the two rates currently being charged by Greg.
(ii) Explain two ways in which Greg could change his pricing policy to improve income from his mini digger hire service.
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................(4)
(d) Evaluate whether Greg should employ an accountant to assist his business.
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................(2) Q6
(Total 16 marks)
Acc153759_M25714A_AS_GCE_Account18 18 20/11/2006 08:13:32
Leave blank
1�
*M25714A01�20*
If you answer question 7, put a cross in this box ( ).
Source material for use with question 7 can be found on pages 14 and 15 of the source booklet.
7. (a) Prepare the following ledger accounts for the year ended 31 March 2007. Each account should include the transfer to the profit and loss account for the year, and the balances to be carried down.
(i) Provision for doubtful debts account.
(ii) Rent receivable account.
(iii) Telephone account.
Provision for Doubtful Debts Account
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
Rent Receivable Account
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
Telephone Account
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................(10)
Turn over
Acc153759_M25714A_AS_GCE_Account19 19 16/10/2006 15:18:35
Leave blank
20
*M25714A02020*
(b) Explain why:
(i) a business might maintain a provision for doubtful debts account;
(ii) the accounting concepts of accruals and materiality may be in conflict when preparing the final accounts of a business.
................................................................................................................................
................................................................................................................................
................................................................................................................................
................................................................................................................................
................................................................................................................................
................................................................................................................................
................................................................................................................................
................................................................................................................................
................................................................................................................................
................................................................................................................................
................................................................................................................................(4)
(c) Evaluate the usefulness of accounting standards in the preparation of the final accounts of a business.
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................
.......................................................................................................................................(2)
TOTAL FOR SECTION B: 48 MARKSTOTAL FOR PAPER: 100 MARKS
END
Q7
(Total 16 marks)
Acc153759_M25714A_AS_GCE_Account20 20 12/12/2006 08:20:41
