L @ o, © 0010921 2001, i _ SECTION ‘Answer all THREE questions inthis section, ‘Use joumal entries to record the following including appropriate narrations: o wo iy oy Tog atcha of omputer hardware frm Owen Johnson and Coon August 22, 1999 for $45 000. tg Tansfrof $2 700 om. Scott and Co. aceountin the Purchase Ledger {heir account inthe Sales Ledger inorder to set ofa purchase spnnstactercy August 23,1999, {mterest at 20% per year for one year on partner A's capital of $30 000 on December 31, 1999, ¢/ ‘The opening entries of John Chand who started business on August 31, 19992" ‘ Cash’ 3.000 1 Bank 13.000 4 Creditors 20000 oe Stock 8.000 Bank loan 20000 Motor vehicle 26000 (4marks) Show cometive jounalenies forthe eno listed below: (No naration ie neces) o w iy @) ‘Goods sold to P. Parkes was posted to the debit of G. Parkes $150, GO ON TO THE NEXT PAGE caiman enim2G) The Statement of Affairs for Gillian Enterprise atAprit 1, 2000 was given as follows: Statement of Affairs ‘as at April 1, 2000 $ s “Trade creditors 60.000 Cash 18 000 Expense creditors 6000 Bank 12000 Loans (longterm) 12.000 Debtors 54000 Capital 36 000 Stock 24.000 Fumiture & equipment 6000 114.000 114000 a ee ‘On March 31, 2001 Gillian Enterprise identified the folowing assets and Tiabilities: Assets s Furniture & equipment 5.400 Stock 18.000 Debtors 63.600 Bank 8400 Cash 9600 Liabilities “Trade editors 50000 Expense creditors 8 400 ‘Loans (long tern) 4.000 Drawings dufing the year amounted to $5 400, ee oe Prepare Gillian Enterprise Statement of Affairs as at March 31, 2001 and calculate the profit forthe year. (Show ALL workings inthe calculation of the profit) (0 marks) (©). 0. Bryan maintains incomplete records in his business and has provided the following ‘information: Debtors 31/12/2000 = $50 000 Debtors 1/1/2000 = $27 000 ‘Amount collected from debtors during the year = $127 000 ‘Cash sales forthe year $61 000 Bad debts written off during the year $14 000 Sales returns $16 000 Prepare a statement wo show net sales forthe year (Tmarks) (©) Givethree differences between Single Entry and Double Entry Accounting. (3 marks) GO ON TO THE NEXT PAGE ‘0010927F 2001,se @ © 0010927 2001, “4: “The folowing Purchases Book frm apart of he counting record of Keith Byno, sole trader, forthe month of July 1999. PURCHASES BOOK 1999 Dates | Particulars | Invoice# | ¥otio | Amount 5 July 2 | BeAbrahams 100 | -PL20 | 1700 july 6 | C Baker mor | PL 35. |-1800 July 8 | D.Cacke moz | PL36 | 3500 guly15_ | B-Dalvey mos | peat | 1000 July 20° | Baton mos | pLso | — 800 July22-— | G.Featon mos | piss | 4500 July28— |. Gordon 0s | Peo | 4000 July 30 | HL Gordon ‘mor | eco | — 300 guy 31 |B Dalvey. mos} phat | 1500 (Determine the amount tobe transfered tothe Purchases Account. (mark ) i) Show the Purchases Ledger and indicate the appropiate page numbers (7 marks) (ii) Show the appropriate General Ledger Account (marks) Gv) Give two other names forthe Purchases Book. marks) ‘The following Returns Inwards Book forms a part of the accounting records of Keith Byno. RETURNS INWARDS BOOK ‘Creait 99 Dates,| Particulars | NoteNo, | Folio | Amount L 8 tuly 6 | O.Prince 10 | sts | 168 July 9 | K Beton mmo | st4 | 251 uly 15 | Francis aa fe set 109 july 26 | 1 Steele om | sss B July 30 | D.Daley 773 }SL100_ | 102 Determine the amount o be transfered to the Returns Inwards Account (mark) Gi) Show the Sales Ledger (marks) (Gi) Show the appropriate General Ledger Account. (mark) (iv). Give two other names for the Returns Inwards Book. (mark) (9) State two reasons why accredit note may be issued to customers. (I mark ) GO ON TO THE NEXT PAGEi SECTION IL ir ‘Answer any TWO questions in this section. 4. The following records were taken frm the books of Ideal Fishing Cooperative forthe year ending 31/1299, > 3 Accumulated reserves 1/1/2000 38700 ‘Value of fish 1/1/2000 60.000 ‘Value of fish eaught for the year ending 31/12/2000 2700000 ‘Valoe of fish on hand asa 31122000" 100000 Fish sles forthe year - 5800000 (Other expenses ofthe Cooperative fr the year ‘Depreciation of fishing boats 18000 [Depreciation of fishing nets 70000 ‘Depreciation of co-operative office buildings 12000 Depreciation other fishing equipment 20000 ‘Vale of fish spoilage 30000 Cooperative wily bis paid ‘56000 ‘Owing 31/12/2000 3.000 “Wages and salaries forthe year 700 000 “The main assets were: s “ ‘Fishing boats at cot less depreciation upto 31/12/2000 1000 000 Fishing nets at cot less deprecation up to 31/12/2000 200 000 ‘Other fishing equipment st cost est depreciation upto 31/12/2000. 100.000 Cooperative office building at cost less deprecation up wo 31/12/2000 20000. (Cash in Bank 765 700 Amount owed by customers $37 000 E ‘While long term loan was $900 000 [And investment of members in shares (600000 shares at $3) f Profits were appropriated as follows: ‘Statutory reserve $500 000 aeation fund 250 000 Dividends to members $1 400 000 Prepare fr Weal Fishing Cooperative the follow (@) TWaling & Profit and Los Accounts forthe year ending December 31,2000. ‘GO marks) (©) The Cooperative's Appropriation Account. (Smarks) (©) Theblance sheet as at December 31,2000. (7 marks) fh GO ON TO THE NEXT PAGE ‘001092/F 2001 Me© (001092 2001 “Se 46. ‘The Taleo Enterprises bought a machine costing $60 000. ‘The estimated useful life of ‘the machine is eight years. ‘The method of depreciation used inthe first four years was the Straight Line method, after which the Reducing Balance method was applied atthe rate of 20% per annum. Determine the Depreciation Expense to be charged to Talco’s Profit and Loss account in each ofthe eight years of the machine's useful life and give the residual value of the machine after the eight years. (marks) ‘A manufacturing business had the following transactions with Motor Vans: January 1, 1997 Purchased motor van costing: 380.000 June 30,1997 Purchased motor van costing $860,000 January 6, 1998” Purchased motor van costing, $70 000 June 30, 1998 Purchased motor van costing. 5100 000 ‘There were no further purchases in 1999, ‘A full year's depreciation is taken om all motor vans on the books at December 31 each year. Depreciation is calculated at 10% on cost using the straight line method. Show the following: (Motor Van account showing balances at the end of each year. (Smarks) (i) Provision for depreciation for 3 years (credit entries only). (Smarks) Gii)__The entry for Motor Van on the balance sheet at December 31, 1999, (2 marks) GO ON TO THE NEXT PAGE6 The Abby Sports Club has 150 male and 200 female members. Both groups engage in seperate sports activities and maintain separate Receipts and Payments accounts. Males Receipts and Payments For the period ending June 20, 2000 8 8 ‘Bank balance bit 500. Printing @ stationery 1250 ‘Subscriptions received forthe Repairs to equipment 1120 ‘period 11/800 Upkeep of grounds 1400 [Rent received for use of Wages for security 3.000 equipment 1300) Bank balance 30/6/2000 6830 Be 3600 Females ‘Receipts and Payments For the period ending June 30, 2000 3 s Bank balance bif 1500 Paymentfor bar supplies 6 000 ‘Subscriptions received: ‘ Barman wages: 2000 In advance 1300 —_Barexpenses 1500 For arrears (1999) 1.600- Coach fees 8.000 For this period 15000 Repairs equipment 2000 Barsales, 11000 Printing & stationery 1800 Bank balance 30/6/2000 9100 30400 30400 (Other information obtained from the Books of Abby Sports Club were as follows: (Opening stock of bar supplies $700 Closing stock of bar supplies $800 ‘Barman wages owing June 30, 2000 $3200 ‘Bar expenses owing June 30, 2000, $150 Depreciation for the period on club house SI. 200 Subscription owing for the period: Males $600 Females $400 ‘There were no amounts owing for bar supplies at strt and end ofthe period, (a) © Prepare for Abby Sports Club the following: @ A-combined Receipts and Payments Account forthe period nding June 30, 2000. (marks) Gi) Abar Trading Account (marks) Gii)__Am Income and Expenditure Account (marks) (®) Which item on the bar Trading Account will appear as an asset on the club's Balance Sheet? (mark ) GO ON TO THE NEXT PAGE ‘oo10927F 20017. (a) "The accouintant at Wexford Company Limited has reported a net profit of $200 000 {for the period ending September 30, 2000. The company discovered however thatthe following information was ot taken into consideration to amie atthe reported net profit: s 1, Accrued interest on long tern loan 3780, 2. Amount for rent was no adjusted for pre-paid rent 0 3, Creation of new provision for bad debs 1200 4 Returns from company investments 15000, 5. Rent received for se of company’s facilities 780 16. Commissions received by the company 28000 7. Commissions paid to sales agents 17000 8. Bad debts recovered 1800 9. Costof gods sold understated by 3500 10. Dividend to shareholders treated as an expense 18000 11, Anovercharge of depreciation amounting to 3.500 12 Cariage outwards 8200 Di scat rte ty ca it Nr profit of $200 000 reported. Eg [Net Profit reported. $200 000 (©) Youare provided with the following information relating to QX Company Limited, for ‘the current year . ‘Capital reserve 25000, Gross profit 900 000 ‘Interim dividend paid 15000" Final dividend proposed 35000 ‘Directors’ remuneration ‘30000 ‘Wages and salaries 160000 Debenture interest 10.000 Depreciation 13000 Sundry expenses 225.000 Unapproprited profit brought forward ‘68 000 ‘Prepare forthe company a Profit and Loss account and an Appropriation account forthe ‘curent year. (11 marks) END OF TEST HOM : Sea1138 | | MySECTION 1 Answer all THREE questions in this section, ‘ Maurice Deleon operates an Electical Supplies business. He has a large number of debtors and creditors and maintains both Debtors and Creditors Control Accounts. The following ‘information was taken from his books in July 2001 and represent totals for the month ending July 31 2001. 3 Returns outwards 900 Discount received 2010 ‘Cheques paid to suppliers 52500 Purchases journal 47250 ‘Cheques fom customers dishonoured 2100 ‘Returns inwards 1500 Discounts allowed 750 Bad debts written off 1125 ‘Amounts received from customers 21300 Credit sales to customers 30150 July 1 2001 balances were: Purchases Ledger debit balance 275 Purchases Ledger credit balance 37-500 Sales Ledger debit balance 9150 ‘Sales Ledger credit balance 450 (a) Prepare Maurice Deleon’s Debtors Control Accounts and Creditors Control Accounts for July 2001 o¢aémarks) (&) Give TWO advantages of maintaining Control Accounts, (2marks) © ‘George Mota is «customer who owes $1 500. If, because of misfortune, he is only able to pay 60% of that amount to Maurice Deleon, what effect would this have on the Control Account (2imarks) GO ON TO THE NEXT PAGE (001092/F 2002© @) Bold and Grusome bought a iiotor vas for $45 000 and estimated its sorap value at '$3.000 and its useful life as 5 years. Depreciations charged on the straight line method. @ What was the deprecation rite per year? What amount of depreciation should be charged in year 32 (ii) What vas the net book vale atthe end of year 4? iv) What was accumulated deprecation athe end of year 3? (©) Name ONE other method of deprecation. (marta GO ON TO THE NEXT PAGE ‘001092 2002© © o 0100217 2002 as SECTION Answer any TWO questions in this section. Tegogat Farmers’ Co-operative has a membership of $0 farmers Each member has 12 500 shares and the price per share is $1. ‘The balances on the books of the (Co-operative on September 30 2001 were as follown: Patronage refund to members unpaid 32.500 Dividend to members unpaid 50.000 Debtors 22000 Provision forbad debts 2.000 Stock of materials supplies 67500 Investments in other co-operatives 37500 “Motor vehicles net of depreciation 04375 Schedule of equipment net of depreciation 135 000 Farm lands and buildings 542.500 ‘Long term toan 75.000 Cash 7-500 Bank 44.000 Creditors 33750 ‘Accumulated reserves 30/9/2001 93 500 ‘Amount owing: Loan interest 4750 eat 2000 ‘Telephone 1875 Fronats the Balance Sheet of the Co-operative as at September 30 2001 using the (17 marks) ‘What isthe working capital ofthe Co-operative? Cimark y Cpe ae Tie reenter oe year; What thera of inter eng charged onthe loan? CAmark ) PIAL te somes of adiona even forthe Co-operative based onthe inforton sven, (Cimark G0 ON TO THE NEXT PAGE“te ‘Betton and Harris are in partnership sharing profits and losses in proportion to their respective capitals. (On September 30 2000 the following information was taken from their books: Betton. Haris Capital Account $850 000 75.000 (Current Account 350 Dr 2875 Cr (On October 1 2000 Betion and Haris admited Dalbert who brought in $20 000 cash and fumiture valued at $5 000 a his capital. Te was agreed that the thee partners were to share ‘profits and losses in proportion to their capitals. Each partner isto receive 5% interest on apital. Betton is to receive a salary of 5% of net profits before any other appropriation. (Net profit must include interest on drawings). During the year ending September 30 2001 Betton withdrew $5 000; Harris withdrew $12 500; and Dalbert withdrew $ 2.500, Tater ~ charged on drawings forthe year were: Bewon $250 Harris 625 Dalbert $125 “The net profit forthe year ended September 30 2001 amounted to $75 000. ‘Prepare the following: (a) The Partnership's Appropriation of Profit Account for the year ending September 30 2001. (marks) (©) The Current Account for EACH partner complete with balances. marks) (©) Make the Journal Entry to record the admission of Dalbert nto the partnership. Gamarks) (@ Determine the rate of interest charged on drawings. GQmark ) GO ON TO THE NEXT PAGE 0010921" 20026 You are provided with the following information by the treasurer of Never Again Sports Club; ‘Never Again Sports Cub [Receipts and Payments Account For the month of August 2001 s 8 Balance b/d 175 Purchases for bar 550 ‘Subscriptions received 304 Rent us ‘Cash sales at bar 70 Office maintenance 150 Donations 200 Office chair 170 Concert ticket sales 520 Entertainment expense 100 Balance cfd 874, 1959 [Never Again Sports Clubs Income and Expenditure A/c For the month ending August 31 2001 7) 304 eu) 24 i 240 214 200 520 ia ii Opening stock of bar supplies at August 12001 $64 Closing stock of bar supplies at August 31 2001 $68 Fixed assets excluding office chair 1/8/2001 $480 (Office chair was NOT depreciated ‘Prepare the following: (@) The Club’s Bar Trading Account ( Amarks) (b) Statement of the Club's Accumulated Fund on August 1 2001 (Smarks) (©) The Club's Balance Sheet as at August 31 2001 (10 marks) (@) Whats the MAIN difference between the Receipt and Payments Account and the Income and Expenditure Account? CA mark ) GO ON TO THE NEXT PAGE ‘0010920 20027 “(@) Dane Brown is the accountant at Suzete's Corporation. He prepared the following Journal Entries: Journal Entries DR ok o ¥ Candice ae 2148 ‘To Suspense ale 2144 Amount omited from Cardice’s ale @ ‘Suspense ae 6.064 ‘To Discounts Received fe 6004 For reversal of entry in Discount Received afc ‘Suspense ale 108 ‘To Carol Suzann’s ae 108 ‘To comect amount mis-posted Bank ae ry ‘To Suspense Account ag ‘Toccorect amounts of overdraft oversiated in bank ale Motor vehicle afe 4000) ‘To Purchases ale 4000 ‘To conectly reord the purchase of machine © ‘A Supplier's we 1896 ‘To Suspense we 1896 ‘To ecord discount not posted to a Supplier's ale wo in 01092/F 2002 Prepare the Suspense Account fom the journal ents a Describe the err which was made and is comected a (5) above. ‘What was the difference in the Trial Balance of Suzette's Corporation BEFORE. the errors were corrected? (Smarks) GO ON TO THE NEXT PAGE(©) G Miller is a manufacturer of computer tables. For the month of August 2001 the following information was made available: s Wages of factory workers, 18340 Factory power 1.400 Factory rental 2200 Carriage on raw material 1200 Purchase of raw material 19200 Factory Manager's salary 6400 Stock at August 12001: ‘Raw material 3.000 Work in progress 800 Stock at August 31 2001: ‘Raw Material 2540 ‘Work in progress 2.600 Prepare the Manufacturing Account and state the production cost per computer table if '500 tables were completed during the month. (2 marks) END OF TEST 001092/F 2002@ secrion1 Answer ALL questions in this stetion, ‘The folowing Ti Balance including the hea hater Trial Balance for year ended December 30, 004 Dr cr s s Sales 69039 Purchases: 41175 Carriage 2572 Drawings. 3.900 Rent 3311 Salaries and wages 15375 Bad debts 438 Provision for bad debts 65 Debtors 6.060 Creditors 3.235 Stock (January 1, 2004) 5.963 Cash at bank 589, Provision for depreciation 9.500 Equipment at cost 29.000 Capital BI Ber ‘Redraft the Trial Balance correctly and include the capital amount. (©) Show the journal entries PeRORaTY (0 record the following items in the books of M. Ramject: (Suitable narrations must be used.) April 1 Fama We POUE y Ranjeet for 3.00 wasretuned tote supple Furniture & More, as it was the wrong order, April 5 Poot il of $75 for Ramjeet’s home was incomecty record in the books ofthe business. The eroris now being conceany Apsl10 L, Townsend, » debtor who owed Ramjoet ‘$300, has been declared bankrupt. The court ordered Townsend to pay $0.50 for every dollar owed. eet received a cheque for the amount, ‘April 13 Ramjeet removed stock valuing $450 from the business for his personal use, ‘AprI20 Motor vehicle valuing $100 000 bought on credit fom YS. Garage. 4 ‘heque fr $30 000 was made to YS. Garage as down poy (©) State whether the error made on April OS, and each ofthe ‘ransactions on April 10, 13 and 20 would increase, decrease or have no effect on 01239020/F 2005, GO ON To THE NEXT PAGE2" (@)__OtiverRentley maintains control accounts inhis generalledger. He preparedaSalesLedger Control Account for January 2004. with information derived from his subsidiary books. “The debit balance shown in the Sales Ledger Control Account at January 31,2004, doesnot ‘agree with thelistof debtors extracted from the sales ledger at that date, The value of debtors according to the sales ledger at January 31, 2004, was $14 872. ‘The following errs were subsequently discovered: 1. -K:Boodtijabad debtor whose account had been written offin 2003, sentacheque {for $198. The amount was entered inthe sales ledge. 2. In January a page of the sales returns day book had been overcast by $200. 3. Discounts received of $156 had been mistakenly entered in the discounts allowed column of the cash book in January 2008. ‘ 4. A debit balance of $824 on S. MeCalla's account inthe sales ledger had been set off against his account in the purchases edger. This entry had not been recorded neither control account. 5. A858 discount allowed to Ram Sookie had been correctly entered inthe eash book Dut had not been entered in Ram's account. © Calculate the total ofthe debtors’ balances at January 31,2003, after the errors have been corrected. (Show your workings.) (Amarks) Gi) Calculate the total debtors” balance in’Bentley"s Sales Ledger Control Account for the month of January 2004, before the errors had been ‘comrcted, (Smarks) ©() On April 1, 2004, a business purchased a machine costing $224 000. The machine has a life expectancy of approximately 40 months. Attheendofthattimethe machine isexpected. to havea trade-in value of $24 000. The financial year ofthe business ends on December 31 each Jom (Use the formula for caleulating aml depreciation on the ‘Straight-line Method” to etemine the annual depreciation onthe machine. (marks) Gi) Caleuate th deprecation charge atthe end ofthe first year. (1 mark) (ii) Show the depreciation account forthe rst wo yeas (Smacks) ‘Total 20 marks GO ON TO THE NEXT PAGE (012390200 2005- 3. Chris and Dorcas are in partnership. Their capital and current accounts as at January 1, 2004, are as follows: Capital Current Drawings Balances Balances s 8 8 Chris 40000 $000 (Credit) Chris 17,000 (on June 30) Dorcas 60000 3.000 (Credit) Chris 17 000 (on December 30) Doreas 12.000 (om April 30) Dorcas 12000 (on August 31) Doreas 12.000 (on December 31) “The partnership agreement provides forthe following: 1. Profits and losses are shared between Chris and Doreas in the same ratio as their capital 2. Chris isto be credited with a salary of $6 000 per annum, 3, Interest on capital a 8 per cent per annum is allowed. 4. Interest om drawings is charged at 10-per cent per annum, “The profit forthe year is $95 950. (a) Prepare the partnership profit and loss appropriation account for the year ended December 31,2004, (10 marks) (b) Prepare the partnership capital and current accounts as at December 31, 2004. (Smarks) (©) Explain the meaning of a debit balance on a partner's current account. (1 mark) ‘Total 20 marks GOON TO THE NEXT PAGE (012390207 2005SECTION II Answer any TWO questions inthis section. 4 ‘McNaughton Tools is a small manufacturing establishment. [Atthe end of the accounting year, February 28, 200, the following information was available ‘. s ‘Stocks, March 1, 2003 ‘Raw materials 27000 © Finished goods 35000 , ‘Work-in-progress “7500 -Foctory wages (direct) 150000 ‘Factory salaries 25700 Purchases of raw materials 36300 Renums outwards 300 Factory power and fuel 83200 Sales 532800 Inserance 4400 ‘Administrative expenses 120000 ‘Returns inwards 00 finished goods 3000 ‘Stocks, 28 February, 2004 ‘Raw materials 15 600 Finished goods 200000 ‘Work-in-progress 13 200 Machinery at cost 100.000 ‘You are given the following additional information: |. Machinery is be depreciated at the rate of 25 per cent per annum 2. Factory power and ful is in arrears of $720 3. Insurance, which is tobe divided inthe ratio 3:1 between the factory and the office, ‘prepaid in the amount of $200. (a) Prepareamanufacturing account for the year ended February 28,2004, showingelearly the following: @ The cost of raw materials consumed (used up) (i) The prime cost i) Factory overheads Gv) The total cost of production (14 marks) (b) Prepare a Trading and Profit and Loss Account for year ended February 28, 2004, (Amari) (©) @__ Calculate the gross profit to sales ratio. (Cari) Gi) Calculate the rate of turnover. (mark) ‘Total 20 marks GO ON-TO THE NEXT PAGE ‘012390200F 2005“6 5. Thebalances below remained in the books of Stanigar Lider the preparation ofthe Trading and Profit and Loss Account for year ended June 20,2004, Net profit 319400 Debtors 36 000 Creditors 38000 Inuermn dividend paid to ordinary shareholders 20000 Fined assets at cost, 48.00, ‘Accumulated depreciation 27 400 ‘Unappropriated profits bought forward 55.00 ‘Ordinary shares ($2 exch) 100 000, 'S per cent preference shares ($3 each) 40.000 Stocks une 30, 2004) 166.00 Bank overdraft 15.000 ‘repaid expenses 3.500 terest on loan outstanding 6 000 (Cash balance 2300 Directors fees outstanding 45.000 percent loan 30 000 “The directors of Stanigar Lad recommended the folowing: 1, That TWO reserves be setup, namely, (a general reserve of $15 000, and i) reserve of $7 000 for asset replacement 2. Ordinary shareholders be paid a final dividend of 20 cents per share. 2. Profreeeshafetoldersvidend pai i i G) Prepare, in vertea format, the Profitand Loss Appprto ASSount ud marks) (6) Prepare, in vertical formal, the Balance Sheet of Stanigar Lid. (12 marks) (©) Explain the meaning ofthe term “4 pet cent’ besie the word "Toan”. (Chmark) | i | GO ON TO THE NEXT PAGE i (012390207 20086. ‘The Bridge Town Cricket Clubs had the following assets and liabilities at January 1, 2004, ‘Sports equipment $20 000, stocks of refreshments $1 000, creditors for refreshment $5 500, bank balance $10 000, subscriptions owing $500. ‘During the year the following receipts and payments were made by the treasurer ofthe cricket lu, Receipts s ‘Suibseiptions - Year ended 2003 500 ‘Subseriptions » Year ended 2008 23.000 Subscriptions ~ Year ended 2005 «0 Sale of refteshments 25800 Sale ofraffe tickets “4200 Payments 5 Printing of raffle tickets 400 Payment to creditors 15200 Purchase of sports equipment 12600 Wages: Groundsman 4000 Sales gist 3.000, Ualiies 8 000 Rent 12.000 ‘Additional information at December 30, 2004, reveals that: “Subscriptions wing for year ended 2004 is $440, ‘Utity bills still oustanding $345, ‘Stocks of refreshment at December 30, 2004, was $6 250. ‘Sports equipment isto be depreciated at the'ate of 10 per cent per annum. Creditors for refreshment $2170. ‘Rent prepaid at December 30, 2004, was $300. ponepe (a) Prepares statement 0 show the opening capital (Accumulated Fund) ofthe Bridge ‘Town Cricket Club. (Smarks) (©) Prepare the following forthe Bridge Town Cricket Club (8) Subscriptions account (Smarks) (ii) Refreshment Trading account (Gmarks) (ii) income and Expenditare Account for the year ended December 31, 2004 (Tmarks) ‘Total 20 marks GO ON TO THE NEXT PAGE (012390201 20057% “(2)” James Sigler i garage mechanic who will Visit the customer at home to find the source of trouble and then, if ‘The following are two documenis recording his work forthe week ending” May 6, 3008. | ‘CAR DOCTOR ENTERPRISES. JoB#9 DEPARTMENT: Customer Care ‘TIME SHEET MECHANIC: James Sigler Clock #16 Date /time started / ended: May 2, 2005, 8.00 a.m. - 1 p.m. ‘Description of work required: 41. Travel to and from customer's premises - 45 mins 2. Check source of problem - 3 hours 3. Advise customer to send in for repairs - 15 mins SDale Foster Khan rev Leeson Signature: Operator Signature: Customer - Signature: Supervisor "Remarks: Hours to Be paid at customer Care Yale Of pay. CLOCK #16 ‘CAR DOCTOR ENTERPRISES NAME: JAMES SIGLER CARD WEEK ENDING MAY 6, 2005] in_[ our [IN| our {ww our MONDAY MAY 2 1.00_| 4.00 TUESDAY MAY 3_| 800] 12.00] 100} 4.00 WED MAY + ‘300 |"12.00_|~1.00-|-4.00 —| S00 700 THURS MAY 5__{~8.00_|712.00_| 1.00] 400 | ~s.00 3.00, FRIDAY MAY 6 [8.00] 12.00 | 1-00 | 400 | si 7.00. Additional Information: 1. “Customer Care” rate is $20 an hour. 2. Regular work hours (8:00 a.m, to 4:00 prm, are $12 an hour, and one-and- ‘one-half 1 ) the repular rate is paid for overtime work done 3. The firm deduets the following: PAYE 10 per cent; Health Security S per cent and a savings plan contribution of 5 percent of weekly wages. (Complete the table on the answer sheet provided to arrive a the numberof hours ‘Worked by James Sigler inthe week ended May 6, 2005, (9 marks) GO ON TO THE NEXT PAGE (012390201 2005Gi) Complete the pay slip for James Sigler forthe week ended May 6, 2005, on the answer sheet provided. (Tmarks) Give TWO possible reasons for charging higher rate for “customer care jobs. (marks) (© Write suitable terms forthe following definitions: © Along-term loan which companies sometimes offer asa means of raising cap Gi) An arrangement with the bank requiring it to pay out from your account, fixed amounts on specific dates. marks) “Total 20 marks (012300200 2005