0452.2.1.05 — balance ledger accounts as required and make transfers to financial statements: past paper questions
Real questions on 0452.2.1.05 — balance ledger accounts as required and make transfers to financial statements
The newest 12 of 12 written questions. Open one to see it on the real paper.
- 0452/23 · October/November 2024 · Q2c[2]
State two disadvantages of operating as a partnership.
See it on the paper → - 0452/23 · October/November 2024 · Q2d[2]
Prepare the journal entry to record the payment of interest on the loan provided by Ali. A narrative is not required. Ali & Sai Journal Details Debit $ Credit $
See it on the paper → - 0452/11 · May/June 2024 · Q33[4]
What was his bank overdraft?
See it on the paper → - 0452/22 · February/March 2024 · Q3c[3]
Calculate the shop purchases for the year ended 31 December 2023.
See it on the paper → - 0452/22 · May/June 2023 · Q2b[6]
Complete the following table by entering the amount of each adjustment required to calculate Ramla’s adjusted profit. If an item has no effect on profit, enter zero (0) in the ‘no effect on profit’ box.
See it on the paper → - 0452/23 · October/November 2022 · Q3b[2]
Prepare the entries for insurance and commission receivable in RB’s statement of financial position at 31 March 2022. RB Extract from statement of financial position at 31 March 2022
See it on the paper → - 0452/22 · May/June 2022 · Q2b[2]
Calculate Stalla’s total drawings for the year ended 31 March 2022.
See it on the paper → - 0452/23 · October/November 2021 · Q1a[3]
Calculate the purchases for the year ended 31 August 2021.
See it on the paper → - 0452/23 · October/November 2019 · Q4a[5]
Calculate the amount paid to credit suppliers during the year ended 31 July 2019.
See it on the paper → - 0452/23 · October/November 2019 · Q4b[5]
Calculate the credit sales for the year ended 31 July 2019. Ishaq’s cash sales were equal to one quarter of his credit sales. He kept $3000 of the money received from cash sales for personal use and banked the remainder. REQUIRED
See it on the paper → - 0452/23 · October/November 2019 · Q4c[2]
Calculate the amount paid into the bank from cash sales. $ Amount of cash sales Less Cash kept for personal use Amount paid into bank for cash sales
See it on the paper → - 0452/23 · October/November 2019 · Q4d[8]
Prepare the bank account for the year ended 31 July 2019. Insert the missing figure which represents the amount Ishaq withdrew from the bank for personal use. Ishaq Bank account Date Details $ Date Details $ Ishaq knows that he must place a value on his inventory at the end of his financial year. REQUIRED
See it on the paper →
What examiners said
Errors one and two were often correctly identified whilst numbers three to five were frequently shown incorrectly as decreasing profit. The ability to determine the impact upon profit logically is often aided by a clear understanding of the bookkeeping required to rectify errors. Weaker answers were not totalled correctly, or the final adjusted profit figure did not agree with the total adjustment...
— Examiner report, May/June 2023, 0452/22 Q2(b) (Cambridge)
An extract from the statement of financial position was required showing insurance and commission receivable. This should have shown an extract from the current assets as both these items would be regarded as other receivables. Many candidates incorrectly believed that the commission receivable was a current liability.
— Examiner report, October/November 2022, 0452/23 Q3(b) (Cambridge)
Once cash drawings had been established the drawings for goods could be calculated. Mark up on cost of 25 per cent represents a 20 per cent profit on revenue. Therefore goods withdrawn for own use of $3375 at selling price represent 80 per cent at cost price ($3375 × 0.8 = $2700). Far too often 25 per cent was calculated on the selling price or $3375 was grossed up by ×4. Weaker responses, in addi...
— Examiner report, May/June 2022, 0452/22 Q2(b) (Cambridge)
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