JWSS 2023 POA P2 QP

Class Index Number Name: Setter: Ms Shirley Neo Page 1 of 8 Jurong West Secondary School Preliminary Examinations 2023 60 Candidates answer on foolscap papers provided. READ THESE INSTRUCTIONS FIRST Write your name, class and index number in the spaces on all the work you hand in. Write in dark blue or black pen. You may use an HB pencil for any diagrams, graphs, tables or rough working. Do not use staples, paper clips, glue or correction fluid. The use of an approved calculator is allowed. You may lose marks if you do not show your working or if you do not use appropriate units. Answer all questions. 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. After checking of answer script Checked by Signature Date Student PRINCIPLES OF ACCOUNTS Paper 2 Secondary Four Normal Academic 7086/02 Thursday, 3 Aug 2023 0800 - 1000 2 hours NA JWSS Preliminary Examinations 2023 Principles of Accounts 7086/02 Secondary 4NA Page 2 of 8 There are a total of 8 printed pages (including the cover page) Answer all questions. 1 The following trial balance was extracted from the books of Jie Ge’s business at the end of the financial year on 30 June 2023. $ Sales revenue 87 000 Sales returns 600 Office equipment at cost 46 000 Accumulated depreciation of office equipment 9 200 Cost of sales 11 700 Allowance for impairment of trade receivables 2 400 Loan (repayable 30 June 2025) 16 800 Capital, 1 July 2022 34 020 Cash at bank 4 200 Commission income 5 600 Drawings 8 400 Inventory 10 800 Loan interest 620 Rent expense 8 200 Wages and salaries 48 300 Trade receivables 28 600 Trade payables 12 400

JWSS Preliminary Examinations 2023 Principles of Accounts 7086/02 Secondary 4NA Page 3 of 8 Additional information 1 On 30 June 2023 Rent $500, was paid in advance. Loan interest $1880 was still oustanding. Commission income of $1400 has not been received. 2 Jie Ge’s drawings of $790 were included in wages and salaries. 3 Uncollectible debt, $600, was to be written off. 4 Allowance for impairment of trade receivables is to be $2000. 5 Depreciation of office equipment is to be provided at 20% per annum using reducing balance method. REQUIRED (a) Prepare the statement of financial performance for the year ended 30 June 2023. [10] (b) Prepare the statement of financial position as at 30 June 2023. [10] [Total: 20] JWSS Preliminary Examinations 2023 Principles of Accounts 7086/02 Secondary 4NA Page 4 of 8 2 Eilzabeth opened an Ez-Cafe on 1 July 2021. The following information was available from her business. Date T