2024 HGV 4E Prelim Paper 1

HILLGROVE SECONDARY SCHOOL PRELIMINARY EXAMINATION 2024 SECONDARY FOUR (EXPRESS) / FIVE (NORMAL ACADEMIC) CANDIDATE NAME ( ) CLASS - CENTRE NUMBER S INDEX NUMBER PRINCIPLES OF ACCOUNTS Paper 1 Candidates answer on the Question Paper. No Additional Materials are required. 7087/01 21 Aug 2024 1 hour 10.45 AM to 11.45 AM READ THESE INSTRUCTIONS FIRST Write in dark blue or black pen. You may use an HB pencil for any rough working. Do not use staples, paper clips, glue or correction fluid. Answer all questions. The number of marks is given in brackets [ ] at the end of each question or part question. For Examiner’s Use Marks 1 2 3 Parent’s/ Guardian’s Signature: ___________________ 4 Setter: Mdm Grace Ang TOTAL This document consists of 10 printed pages.

2 HGV PRELIMINARY EXAMINATION 2024 4E/5NA PRINCIPLES OF ACCOUNTS PAPER 1 1 Aydyn Trading implements the accounting cycle and the accounting information system. REQUIRED (a) Fill in the blanks. [2] (i) The accounting cycle (ii) The accounting information system Aydyn Trading realised that a credit customer had been undercharged. REQUIRED (b) State the source document that Aydyn Trading should send to the credit customer to correct the undercharge. [1] Aydyn Trading records transactions based on source documents. REQUIRED (c) State and explain the accounting theory that the Aydyn Trading has been applying. Accounting theory: XX Explanation of accounting theory: XX [2] Identify and record Adjust Source document Close Financial statements Trial balance Ledger

3 HGV PRELIMINARY EXAMINATION 2024 4E/5NA PRINCIPLES OF ACCOUNTS PAPER 1 (d) Explain the extent of liability of shareholders of a private limited company. [2] (e) State the role of accounting. [1] [Total: 8] 2 Ming Yu’s business prepares bank reconciliation at the end of each month as a form of internal control over its bank account. REQUIRED (a) State one purpose of internal control. [1] (b) State one other internal control that a business can have over its bank account. [1] (c) Explain the purpose of preparing bank reconciliation. [1]

4 HGV PRELIMINARY EXAMINATION 2024 4E/5NA PRINCIPLES OF ACCOUNTS PAPER 1 Ming Yu provided the cash at bank account in his books and the bank statement received for the month of June 2024. Ming Yu’s accountant recorded cheque number 3053 wrongly in the books of the business. REQUIRED (d) State one possible reason for the transaction recorded in the bank statement on 30 June 2024. [1] Cash at Bank accout Date Particulars Cheque No. Dr ($) Cr ($) Bal ($) 2024 Jun 1 Bal b/d 6 000 Dr 5 Sales revenue 3 400