EVG 2024 POA Prelim 4G3 5G2 P2 Insert

This question paper consists of 2 printed pages. [Turn Over Candidate’s name: ( ) Class: Evergreen Secondary School Preliminary Examination 2024 Principles of Accounts Paper 2 Insert Secondary Four G3/Five READ THESE INSTRUCTIONS FIRST This insert contains the data for Question 1.

Evergreen Secondary School Preliminary Examination 2024 Secondary Four G3/Five Principles of Accounts Paper 2 2 Data for Question 1 Alan owns a book store. The following balances were extracted from the books of the business on 31 March 2024. $ Fixtures and fittings at cost 90 000 Motor vehicles at cost 40 000 Accumulated depreciation Fixtures and fittings 18 000 Motor vehicles 8 000 Capital 99 900 Drawings 900 Sales revenue 111 300 Sales returns 11 300 Cost of sales 102 000 Rent expense 16 800 Wages and salaries 33 000 Discount allowed 210 Interest expense 400 Commission income 3 000 Inventory 24 700 Cash at bank 8 300 3% bank loan repayable 2027 20 000 Trade payables 111 010 Trade receivables 44 400 Allowance for impairment of trade receivables 800 Additional information 1 Rent expense relates to a 14-month period ending on 31 May 2024. 2 A trade receivable who owed $400 was declared bankrupt during the year. The debt has not yet been written off. 3 The allowance for impairment of trade receivables is to be maintained at 5% of trade receivables. 4 One-quarter of the bank loan was due for repayment on 31 January 2025. 5 Interest on the bank loan for the year to 31 March 2024 had not been fully paid. 6 Fixtures and fittings is to be depreciated at 10% per annum using the straight-line method. 7 Motor vehicles are to be depreciated at 2 0% per annum using the reducing - balance method. 8 Commission income, $500, had not been received.

Evergreen Secondary School Preliminary Examination 2024 Secondary Four G3/Five Principles of Accounts Paper 2 3