LCCIEB会计簿记考试真题SERIES3EXAMINATION2000

SERIES 3 EXAMINATION 2000
BOOK-KEEPING
FIRST LEVEL
(Code No: 1006)
MONDAY 19 JUNE
________
Instructions to Candidates
(a) The time allowed for this examination is 2 hours 30 minutes.
(b) Answer all 4 questions.
(c) All questions carry equal marks.
(d) Candidates are advised to study the “REQUIRED” section of each question carefully. They
should then extract from the information supplied the data required for their answers.
(e) All answers must be clearly and correctly numbered but need not be in numerical order.
(f) Your answers should be written in blue or black ink/ballpoint. Pencil may be used only for
graphs, charts, diagrams, etc.
(g) Presentation is important and marks may be lost through lack of neatness.
(h) Candidates may use calculators provided the calculators give no printout, have no word display
facilities, are silent and cordless. The provision of batteries and responsibility for their condition must rest with the candidate.
(i) Workings must be shown.
_______
James Maligne is a sole trader and he has prepared the following Trial Balance at the end of his financial year:
James Maligne
Trial Balance at 31 December Year 7
Dr Cr
££
Motor Vehicles at cost 15,500
Provision for depreciation of
Motor Vehicles (1 January Year 7) 3,750
Discounts 840 320
Stock (1 January Year 7) 4,150
Rent and Rates 1,930
Insurances 1,550
Debtors and Creditors 12,500 5,210
Provision for doubtful debts 585
Wages and salaries 13,470
Office Equipment at cost 17,950
Provision for depreciation of
office equipment(1 January Year 7) 6,870
Cash at bank 5,185
Vehicle running expenses 2,780
Purchases and Sales 28,760 73,140
Capital (1 January Year 7) 24,000
Drawings 9,260
113,875113,875
Following the preparation of the Trial Balance, James discovered the following errors:
(1) A purchase of office equipment for £2,000 had been charged to the Purchases Account.
(2) A payment of £500 for motor vehicles repairs had been charged to the Motor Vehicles Account. REQUIRED
(a) Prepare the journal entries, without narrations, to correct the two errors.
(4 marks) Before preparing the final accounts, you are advised of the following:
(i) Stock on hand at 31 December Year 7 was valued at cost at £5,320.
(ii) Accrued wages at 31 December Year 7 amounted to £240.
(iii) Prepaid insurance at 31 December Year 7 amounted to £110.
(iv) Depreciation is to be provided for the fixed assets as follows:
Motor Vehicles – 25% per annum on cost.
Office Equipment – 10% per annum on cost.
(v) The provision for doubtful debts at 31 December Year 7 is to be set at 6% of the debtor’s figure at that date.
REQUIRED
Prepare the following for James Maligne’s business:
(b) The Trading and Profit & Loss Account for the year ended 31 December Year 7.
(13 marks)
(c) The Balance Sheet at 31 December Year 7.
(8 marks)
(Total 25 marks)
Jill Baxter is a sole trader and has received her bank statement for the period ended 30 June Year 3. The bank statement showed that her balance in the bank was a positive balance of £7,631. The bank balance in her cash book at that date showed a debit balance of £6,228. She compared the bank statement and the cash book and discovered the following:
(i) The following cheques drawn by Jill Baxter had not been presented to the bank:
Cheque Number Payee Amount (£)
12057 New Auto Ltd. 2,300
12060 John Caldow 156
12062 Alex Glass 173
(ii) Bank charges of £154 had not been entered in the cash book.
(iii) The bank had not credited Jill Baxter’s account with sales receipts of £3,510 that had been paid into the bank on 30 June Year 3.
(iv) A standing order payment for rent of £500 made on 1 June Year 3 had not been entered in the cash book.
(v) A cheque payment to a creditor, Ben Young, for £352 had been entered in the cash book as £532.
(vi) Jill Baxter had not entered sales receipts of £2,758 into her cash book that were shown on the bank statement on 8 June Year 3.
REQUIRED
(a) Complete Jill Baxter’s cash book at 30 June Year 3.
(11 marks)
(b) Prepare a Bank Reconciliation Statement at 30 June Year 3. Begin the statement with the
balance on the bank statement at that date.
(12 marks)
(c) State the cash at bank figure that will appear on Jill Baxter’s Balance Sheet at 30 June Year 3.
(2 marks)
(Total 25 marks)
The Treasurer of the Vintage Vehicles Club has prepared the following summarised Receipts and Payments Account for the year ended 31 December Year 4:
££
Bank balance (1 January Year 4) 935 Vehicle hire 980 Cash balance (1 January Year 4) 72 Room hire for meetings 1,530 Subscriptions: Refreshments 268 Year 3 65 Postage 120
Year 4 3,428 Vehicle running expenses 645
Year 5 85 Advertising 163 Bank interest 148 Cash balance (31 December Year 4) 264
Bank balance (31 December Year 4) 763
4,733 4,733 Additional information:
At 31 December Year 3 Year 4
££
Subscriptions:
In arrears
Year 3 120 55
Year 4 190
In advance
Year 4 75
Year 5 85
Room hire owing 35 38
REQUIRED
Prepare for the Vintage Vehicles Club:
(a) A calculation of the Accumulated Fund at 1 January Year 4.
(7 marks)
(b) The Income and Expenditure Account for the year ended 31 December Year 4
(18 marks)
(Total 25 marks)
Chris Hill, a sole trader, extracted a Trial Balance from her books at 30 September Year 5. This did not agree and the following errors have been found:
(1) Discounts received of £340 had been posted to the debit side of the Discount Allowed account as
£430.
(2) The Purchases Day Book for September Year 5 had been undercast by £700.
(3) Chris Hill had taken goods from the business for her personal use. The cost value of the goods
was £350 and no entries had been made to record the use of these goods.
(4) A purchase of a machine, on credit, from Gray Supply Ltd for £1,500 had not been entered in the
books.
(5) The cash sales for September Year 5 totalled £4,320 and had been correctly posted to the cash
book. However, the double entry had not been completed.
(6) A cheque payment of £954 to James Watson, a creditor, had been correctly shown in the cash
book. Yet the corresponding entry in James Watson’s pers onal account showed an entry of £945.
(7) Chris Hill had an extension to her business premises built by some of her employees. The
wages cost incurred amounted to £5,320 and remained in the Wages account.
(8) Materials for the extension to the business premises had cost £7,300 and had been paid for.
The cost of these materials had been debited to the Purchases account.
(9) A receipt of £1,450 from a customer, William Park, had been credited to the personal account of
William Peak.
(10) Rent receivable of £800 for September Year 5 had been correctly posted in the cash book, but
the credit entry had been posted to the Rent Payable account.
REQUIRED
Prepare the necessary Journal entries, without narrations, to correct the above errors.
(25 marks)。