Tampines Sec 4E Prelim 2023 Paper 2 (Questions _ Answers)

TAMPINES SECONDARY SCHOOL Secondary and ( ) NAME CLASS REGISTER NUMBER READ THESE INSTRUCTIONS FIRST An answer booklet will be provided with this question paper. You should follow the instructions on the front cover of the answer booklet. If you need additional answer paper ask the invigilator for a continuation booklet. Answer all questions. The use of an approved calculator is allowed. The businesses described in this question paper are entirely fictitious. The number of marks is given in brackets [ ] at the end of each question or part question. For Examiner’s use This document consists of 7 printed pages © TPSS/7086/02/2023/SEC4NA/PRELIM [Turn over

2 Answer all questions. 1 Samy Pte Ltd runs a cleaning services business. The following account balances were extracted from the books at the end of financial year on 31 March 2023. $ Service fee revenue 64 200 Wages and salaries 17 900 Rent expense 12 400 Utilities 5 000 Motor vehicles expenses 1 380 General expenses 4 350 Commission income 800 Cash at bank 4 100 Equipment 17 400 Motor vehicles 67 000 Accumulated depreciation: Equipment 1 800 Motor vehicles 12 000 Allowance for impairment of trade receivables 430 Trade receivables 9 500 Trade payables 7 200 8% bank loan (loan was taken on 1 April 2022) 25 000 Share capital, 20000 ordinary shares 20 000 Retained earnings 7 600 Additional information 1 Motor vehicles are depreciated at 20% per annum on net book value. 2 Equipment are depreciated at 15% at cost. 3 At 31 March 2023: i Wages and salaries, $2700, remains unpaid. ii Commission income, $150, was earned but has yet to be received. iii Interest on loan is charged at 8% per annum, payable on 1 April 2023. 4 The allowance for impairment of trade receivables is to be maintained at 4% of trade receivables. 5 A payment of $200 by cheque for general expenses was wrongly debited to the cash at bank account and credited to the general expenses account. 6 The company declared a dividend of $0.20 per share. The dividend will be paid on 31 July 2023.

3 REQUIRED (a) Prepare the statement of financial performance for the year ended 31 March 2023. [10] (b) Prepare the statement of financial position as at 31 March 2023. [10] [Total: 20]

4 2 The business of Dannie provided the cash at bank account for the month of July 2023 as follows: Cash at bank Date Particulars Cheque # Debit Credit Balance 2023 $ $ $ Jul 1 Balance b/d 570 Dr 4 Sales revenue 1 350 1 920 Dr 7 Sally 30013 230 1 690 Dr 12 Miller 2 470 4 160 Dr 28 Ethan 480 4 640 Dr 29 Farhan 30014 2 670 1 970 Dr 30 Cash in hand 200 1 770 Dr Aug 1 Balance b/d 1 770 Dr The following bank statement was received by Dannie on 2 August 2023. Bank Statement Date Particulars Withdrawal Deposit Balance 2023 $ $ $ Jul 1 Balance b/d 1 520 Cr 5 Cheque deposit 1 350 2 870 Cr 6 Cheque no 30012 950 1 920 Cr 10 Cheque no 3001