2022 CTSS 4N Prelim P1 ANS

CTSS 4N Prelim 2022 Paper 1 Suggested Mark Scheme Question 1 (a) Date Particulars Dr ($) Cr ($) Bal ($) 2022 May-31 Bal b/d 4135 DR 1 Salaries expense 2000 1 Interest expense 70 1 Trade receivable – Premium Outlet 1580 1 Jun-01 Bal b/d 3645 DR 1 5 (b) Bank reconciliation statement as at 31 May 2022 $ Credit balance as per bank statement 8 655 Add Deposits in transit Healthy feet 590 1 Less Cheques not yet presented Socks and Socks (5 600) 1 Adjusted balance as per cash at bank account 3 645 1 3 (c) It serves to ·       Safeguard assets of the business ·       Ensure business transactions are recorded objectively and on a timely basis ·       Ensure that the business complies with law and regulation Any 1 of the above 1 Total 9 Cash at Bank