2024 BPGHS S5 POA P2 (Insert)

Name of Candidate: …………………………………………… ( ) Class: …………… This paper consists of 3 printed pages and 1 blank page [Turn over BUKIT PANJANG GOVERNMENT HIGH SCHOOL PRELIMINARY EXAMINATION 2024 SECONDARY 5 GCE 'O' LEVEL SYLLABUS PRINCIPLES OF ACCOUNTS Paper 2 7087/02 21 August, 2024 2 hours 0750 h – 0950 h READ THESE INSTRUCTIONS FIRST This insert contains the data for Question 1. INSERT

2 © BPGHS Preliminary Examination 2024 7086/02 Data for Question 1 Le-Vince Pte Ltd is a company providing legal consultancy services. The following balances were extracted on 31 March 2024. $ Share capital, 100 000 ordinary shares 100 000 Retained earnings at 1 April 2023 29 230 Commission income 8 000 Legal fee revenue 40 400 Trade payables 21 000 Trade receivables 32 000 Allowance for impairment of trade receivables 780 Bank loan repayable 2028 60 000 Cash at bank 35 000 Equipment at cost 150 000 Fixtures and fittings at cost 55 000 Accumulated depreciation: Equipment 28 500 Fixtures and fittings 15 600 Office expenses 6 200 Wages and salaries 9 310 Rent expense 15 000 Interest on bank loan 1 000 Additional information on 31 March 2024 1 Fixtures and fittings are to be depreciated using the straight-line method over a useful life of ten years. The estimated scrap value is $3 000. 2 Equipment are to be depreciated at 10% per annum using the reducing - balance method. 3 Interest is charged on bank loan at the rate of 6% per annum. The loan was taken up on 1 November 2023. 4 The rent expense of $15 000 is paid for 15 months, up to 30 June 2024. 5 Wages and salaries, $2 310, were owing and office expenses, $1 230, was prepaid.

3 © BPGHS Preliminary Examination 2024 7086/02 [Turn over 6 Legal fee revenue amounting to $3 200 was received in advance from a client. 7 It was decided that 2% of the trade receivables were unlikely to be collectible. 8 25 000 shares at $1.00 each were issued and paid on 1 February 2024. This has not been recorded. 9 A dividend of $0.0 5 per share was declared on 1 March 2024, but had not been paid.

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