Temasek Sec 2024 Prelims 5N POA P2 insert

No part of the paper is to be reproduced without the approval of the Principal of Temasek Secondary School. Name: Index Number: Class: _______ TEMASEK SECONDARY SCHOOL Preliminary Examination 2024 Secondary Five Normal Academic PRINCIPLES OF ACCOUNTS 7087/02 Paper 2 2 hours INSERT READ THESE INSTRUCTIONS FIRST This insert contains the data for Question 1. This document consists of 3 printed pages and 1 blank page.

2 No part of the paper is to be reproduced without the approval of the Principal of Temasek Secondary School. Data for Question 1 The following balances were extracted from the books of Zion Trading Pte Ltd on 31 July 2024: $ Office equipment at cost 324 000 Motor vehicles at cost 150 000 Accumulated depreciation: Office equipment 57 600 Motor vehicles 76 500 Sales revenue 585 504 Inventory 51 000 Cost of sales 319 080 Sales returns 25 560 Commission income 33 840 Interest income 2 640 Advertising expense 9 360 Wages and salaries 75 600 Repairs expense 540 Rent expense 12 900 Allowance for impairment of trade receivables 1 260 Trade receivables 38 000 Bank deposit (short-term) 18 000 3% bank loan repayable 2030 96 000 Trade payables 20 760 Cash at bank (debit balance) 14 280 Issued share capital, 50 000 ordinary shares 90 000 Retained earnings at 1 August 2023 74 216

3 No part of the paper is to be reproduced without the approval of the Principal of Temasek Secondary School. Additional information on 31 July 2024: 1 2 Office e quipment is to be depreciated at 10% per annum using the straight -line method assuming a scrap value of $24 000. Motor vehicle is to be depreciated at 2 5% per annum using the reducing -balance method. 3 4 5 6 Rent, $3 500, was owing and advertising expenses, $1 800 were prepaid. The bank loan was obtained on 1 August 2023. Interest on the bank loan for the year ended 30 July 2024 had not yet been paid. The allowance for impairment of trade receivables is to be maintained at 5% of trade receivables. The company declared a dividend of $0.1 0 per share. The dividend will be paid on 1 September 2024.

4 No part of the paper is to be reproduced without the approval of the Principal of Temasek Secondary School. BLANK PAGE