2022 CTSS 4N Prelim P1 QN

Name: _________________________________RegisterNumber: ______ Class: ______ Clementi TownSecondarySchoolPreliminaryExaminations2022Secondary4Normal (Academic) PRINCIPLESOFACCOUNTS 7086/01Paper 1 28July20221hour CandidatesanswerontheQuestionPaper.NoAdditionalMaterialsarerequired. CLEMENTITOWNSECONDARYSCHOOLCLEMENTITOWNSECONDARYSCHOOLCLEMENTITOWNSECONDARYSCHOOLCLEMENTITOWNSECONDARYSCHOOLCLEMENTITOWNSECONDARYSCHOOLCLEMENTITOWNSECONDARYSCHOOLCLEMENTITOWNSECONDARYSCHOOLCLEMENTITOWNSECONDARYSCHOOLCLEMENTITOWNSECONDARYSCHOOLCLEMENTITOWNSECONDARYSCHOOLCLEMENTITOWNSECONDARYSCHOOLCLEMENTITOWNSECONDARYSCHOOLCLEMENTITOWNSECONDARYSCHOOLCLEMENTITOWNSECONDARYSCHOOLCLEMENTITOWNSECONDARYSCHOOLCLEMENTITOWNSECONDARYSCHOOLCLEMENTITOWNSECONDARYSCHOOLCLEMENTITOWNSECONDARYSCHOOLCLEMENTITOWNSECONDARYSCHOOLCLEMENTITOWNSECONDARYSCHOOL READTHESEINSTRUCTIONSFIRST Writeyourname,registernumberandclassonall theworkyouhandin.Writeindarkblueorblackpen.YoumayuseanHBpencil foranyroughworking.Donotusestaples,paperclips,glueorcorrectionfluid.Theuseofapprovedcalculatorisallowed.DONOTWRITEONANYBARCODE. Answer allquestions. Thebusinessdescribedinthisquestionpaperareentirelyfictious. Thenumberofmarksisgiveninbrackets[ ]attheendofeachquestionorpartquestion.

2 _______________________________________________________________________________________ Thisquestionpaperconsistsof12printedpages,includingthiscoverpage.

3 Answerallquestions. 1 Jacky,ownerofJumpyJackets,providedthebusinesscashatbankaccountforMay2022. CashatbankaccountDate2022 Particulars ChequeNumber Debit$ Credit$ Balance$May 1 Balanceb/d 8110 Dr4 StyleWear 1122 2385 5725 Dr9 SocksnSocks 1123 5600 125 Dr16 NikyShoes 2820 2945 Dr22 Utilitiesexpense 1124 600 2345 Dr27 Dancewalker 1200 3545 Dr30 HealthyFeet 590 4135 Dr ThefollowingbankstatementforMay2022wasreceivedon5June2022.Thebalancesinthecashatbankaccountandthebankstatementdidnotagree. BankstatementDate Particulars Withdrawal Deposit Balance2022 $ $ $May 1 Balanceb/d 9495Cr1 Chequeno.1121 1385 8110Cr10 Chequeno.1122 2385 5725Cr18 Chequedeposit 2820 8545Cr20 Directpayment–Salaries 2000 6545Cr24 Directtransfer–PremiumOutlet 1580 8125Cr 25 Chequeno.1124 600 7525Cr28 Chequedeposit 1200 8725Cr30 Interest 70 8655Cr REQUIRED (a) PreparetheadjustedcashatbankaccountforMay2022. [5]

4 (b) Preparethebankreconciliationstatementasat31May2022. [3] (c) Explainonepurposeofinternal controlsinabusiness. [1] [Total: 9]

5 2 Smart Enterprise started business on 1 August 2020 and purchased an office equipmentcosting $50 000 on the same day. The business policy is to provide a full year’sdepreciationintheyearofpurchase.Itsfinancial yearendson31July.Thefollowingaccumulateddepreciationofofficeequipmentaccountwasprovided. AccumulateddepreciationofofficeequipmentaccountDR$ CR$ Balance$2021Jul 31 Depreciationofofficeequipment 5000 5000CrAug1 Balanceb/d 5000Cr2022Jul 31 Depreciationofofficeequipment 4500 9500CrAug1 Balanceb/d 9500Cr REQUIRED (a) StatethemethodusedbySmartEnterprisetodepreciatetheofficeequi