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eel ret . Series 2 Examination 2009 CERTIFICATE IN BOOK-KEEPING AND ACCOUNTS Level 2 Friday 3 April Subject Code: 2007 Time ailowed: 3 hours INSTRUCTIONS FOR CANDIDATES * Answer any 4 questions. = Allquestions carry equal marks. * Study the "REQUIRED" section of each question carefully and extract the data required for your ‘answers from the information supplied. = Write your answers in blue or black ink/ballpoint. You diagrams, etc. only use pencil for graphs, charts, * Begin your answer to each question on a new page. + Allanswers must be correctly numbered but need not be in numerical order. * Workings must be shown, + You may use a calculator provided the calculator gives no printout, has no word display facilities, is silent and cordless, ‘The provision of batteries and their condition is your responsibilty. * Marks may be lost through lack of neatness and poor presentation. OO 2007/2/09 Page 1 of 7 ASE 2007 2091 QUESTION 1 ‘Sandra commenced business on 1 May 2008. At that date her capital consisted of £3,000 in the bank, shop fixtures £6,000 and stock £5,000. Sandra has not kept a full set of books. ‘Additional information for the year ended 30 April 2009: (Most sales have been for cash. Where sales have been on credit, these have been recorded and invoiced. (il) The payments below were made in cash, in each month, £ Sales assistants’ wages ‘500 per month Drawings 400 per month (iii) After deducting the cash expenditure in (ji) above, all cash takings had been paid into the bank. ‘The following analysis of the bank account is avallabie: Receipts £ Capital introduced 3,000 Cash sales 198,000 Credit sales 44,000 Payments £ Rent and rates 16,000 General expenses 8,000 Creditors 130,000 Electricity 7,200 Telephone 1,600 Computer equipment 4,000 (iv) During the year, Sandra received discount of £2,000 from suppliers for prompt payment. (¥)_ On 30 Aprit 2008: 1. Debtors owed Sandra £6,000. 2. Sandra owed £15,400 to creditors. 3. Stock was valued at £6,400. 4. Rent of £3,000 was prepaid. 5, Telephone of £170 was accrued. 6. Depreciation was charged on fixtures at 10% and computer equipment at 30% using the straight-line method, 7. Sendra had taken goods with a cost price of £5,500 for her personal use during the year. 8. Adebtor has informed Sandra that he may not be able to pay his debt of £700. A provision is to be created for this doubtful debt. REQUIRED (a) Prepare for Sandra: () Trading and Profit & Loss Account for the year ended 80 April 2009. (18 marks) () Balance Shest at 30 April 2008, (10 marks) (Total 25 marks) 2007/2/09 Page 20f7 QUESTION 2 ‘The Treasurer of the Hull Social Club prepares final accounts on 31 December each year. Receipts and Payments Account for year ended 31 December 2008 £ £ Balance bid 840 Purchases for dance 52,800 Subscriptions 18,960 Club wages 19,000 Raffle tioket sales 2,200 Rent and rates 10,000 Dance receints 84,000 Electricity 1,940 Interest - Deposit account 80 Music equipment 7,100 Rent received 1,00 Loan repayment {including interest) 3.800 Balance old 4,080 Repairs to club roof 12.400 Raffle prizes 11400 108.440 108.440 ‘The folicwing information is also available: 0 31 December 2007 34 December 2008 £ £ Dance creditors 700 14,800 Music eat 3,000 8,400 Fitures and fittings 7,000 6,300 5% Deposit account 3,200 3,200 6% Loan 30,000 27,900 Rates paid in advance 400 600 Electricity accrued 250 360 ‘Subscriptions - in advance 1,920 2,400 + in arrears 41200 1,440 Stock of dance refreshments 3,600 3,300 (ii) Dance refreshment stocks are marked up by % for resale, (ii) The new music equipment was purchased on 1 January 2008 for £8,600, The old music equipment was traded in part exchange at an agreed value of £2,500. (iv) The membership of the club was 80 members for the year 2008, with each member paying an annual subscription of £240, (¥) Subscriptions in arrears at 31 December 2007, which were not collected by 31 December 2008, are to be written off as bad debts. (vi) No loan interest is outstanding at 31 December 2008, REQUIRED (@) For the year ended 31 December 2008, prepare the: () Danee Trading Account (4 marks) (il) Subscriptions Account (3 marks) (iil) Income & Expenditure Account, (13 marks) 2007/2/08 Page 3 of 7

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