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9706_s10_qp_21

9706_s10_qp_21

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Published by: roukaiya_peerkhan on Aug 25, 2010
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08/26/2010

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DC (AT/MR) 17094/6 © UCLES 2010
[Turn over
UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONSGeneral Certificate of EducationAdvanced Subsidiary Level and Advanced Level
* 91 7 6 7 8 8 9 6 9*
ACCOUNTING
 
9706/21
Paper 2 Structured Questions
May/June 2010
 
1 hour 30 minutes
Candidates answer on the Question Paper.No Additional Materials are required.
READ THESE INSTRUCTIONS FIRST
Write your Centre number, candidate number and name on all the work you hand in.Write in dark blue or black pen.You may use a soft pencil for rough working.Do not use staples, paper clips, highlighters, glue or correction fluid.DO
NOT
WRITE IN ANY BARCODES.Answer
all
questions.All accounting statements are to be presented in good style.Workings must be shown.You may use a calculator.At the end of the examination, fasten all your work securely together.The number of marks is given in brackets [ ] at the end of each question or part question.
For Examiner’s Use123Total
 
2
9706/21/M/J/10 © UCLES 2010
For Examiner’s Use 
1
The following trial balance was extracted from the Mighty Wholesale Company’s books at30 April 2010.Dr$000Cr$000Revenue (Sales) 1600Ordinary goods purchased (Purchases) 946Property (Buildings) at cost 1490Warehouse fittings at cost 348Inventory (Stock) at 1 May 2009 124Capital 140012% loan repayable 2015 100Wages 160Provisions for depreciation at 1 May 2009:Property (Buildings) 320Warehouse fittings 197Trade receivables (Debtors) 360Trade payables (Creditors) 92Cash and cash equivalents (Bank) 48Distribution expenses 43Business rates 50Insurance 30Advertising 79Drawings 25Loan interest 63709 3709
 
Additional information:1 Inventory (stock) at 30 April 2010 cost $230 000. This includes inventory (stock) costing$20 000 which has a net realisable value of $9000.2 Warehouse fittings were sold during the year. The proceeds of $10 000 were debited tothe bank account and credited to the property (buildings) at cost account. No other entryhas been made regarding this transaction. The fittings sold had cost $52 000 and thetotal depreciation charged to them by 1 May 2009 amounted to $41 000. No depreciationis charged in the year of disposal.3 Depreciation is to be provided for as follows:Property (buildings) 2% on costWarehouse fittings 25% reducing (diminishing) balance4 Other payables (accruals) at 30 April 2010 are:Wages $12 000Distribution expenses $5 000Loan interest ? (The loan was taken out in 2005)5 Other receivable (prepayment) at 30 April 2010 is:Insurance $2000
 
3
9706/21/M/J/10 © UCLES 2010
[Turn over
For Examiner’s Use 
REQUIRED(a)
Prepare the income statement (trading and profit and loss account) for the year ended30 April 2010......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... [19]

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