2022 DSS Prelims 4E P1

1 Name: Index No. Class: DUNEARN SECONDARY SCHOOL DUNEARN SECONDARY SCHOOL DUNEARN SECONDARY SCHOOL DUNEARN SECONDARY SCHOOL DUNEARN SECONDARY SCHOOL DUNEARN SECONDARY SCHOOL DUNEARN SECONDARY SCHOOL DUNEARN SECONDARY SCHOOL DUNEARN SECONDARY SCHOOL DUNEARN SECONDARY SCHOOL DUNEARN SECONDARY SCHOOL DUNEARN SECONDARY SCHOOL DUNEARN SECONDARY SCHOOL DUNEARN SECONDARY SCHOOL DUNEARN SECONDARY SCHOOL DUNEARN SECONDARY SCHOOL Dunearn Secondary School Preliminary Examination 2022 Principles of Accounts Secondary 4 Express Paper 1 7087/1 12 Sep 2022 1130 hr to 1230 hr 1 hour INSTRUCTIONS TO CANDIDATES Do not open this booklet until you are told to do so. Write your name, register number and class on the question paper. Write in dark blue or black pen. Do not use staples, paper clips, highlighters, glue or correction fluid. You may use a calculator. Please show all workings clearly. All calculations must be shown adjacent to the answer. The total number of marks is given in brackets [ ] at the end of each question. Setter: Ms Cindy Goh --------------------------------------------------------------------------------------------------------------------------- This paper consists of 9 printed pages, inclusive of the cover page. For Examiner’s use 1 (8) 2 (12) 3 (7) 4 (13) TOTAL (40) Parent's Signature _________________

2 1 The accountant of Ningxuan business discovered the following errors after preparing the trial balance as at 30 June 2021. 1. Cheque of $1 000 received from Le Le has been recorded in Lee Lee account. 2. The credit note of $300 issued to Lee Lee was not recorded. 3. Insurance premium of $6 800 paid was debited to cash at bank and credited to insurance account. 4. Bank interest income of $800 received was recorded as $80. The statement of financial performance for the year ended 30 June 2021 showed a profit of $5 858 before discovering the errors. REQUIRED (a) Prepare journal entries to correct the errors. _______________________________________________________________ ________________________________________________________________ ______________________________________________________________ ________________________________________________________________ ______________________________________________________________ ________________________________________________________________ ______________________________________________________________ ________________________________________________________________ ______________________________________________________________ ________________________________________________________________ ______________________________________________________________ _______________________________________________________________ [4]

3 (b) Prepare a statement to show adjusted profit for the year ended 30 June 2