Temasek Sec 2024 Prelims 5N POA P1 QP

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 7087/01 Paper 1 1 hour Question and Answer Booklet No Additional Materials are required. READ THESE INSTRUCTIONS FIRST Do not open the booklet until you are told to do so. You are required to submit this booklet at the end of the paper. Write your name, index number and class on all the work you hand in. Write in dark blue or black pen. You may use a HB pencil for any rough working. Do not use staples, paper clips, highlighters, glue or correction fluid. Answer all questions. You may use a calculator. Where layouts are to be completed, you may not need all the lines for your answer. The businesses mentioned in this question paper are fictitious. The number of marks is given in brackets [ ] at the end of each question or part question. This document consists of 9 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. 1 Amirul is a trader who gives 10% trade discount to all his customers. He has provided the following account for the month ended 31 July 2024: Zaiton’s account Date Particulars Debit $ Credit $ Balance $ 2024 July 1 Balance b/d 3 000 Dr 5 Sales revenue 3 960 6 960 Dr 14 Cash at bank 2 850 4 110 Dr 14 Discount allowed 150 3 960 Dr 17 Cash at bank 2 850 6 810 Dr 17 Discount allowed 150 6 960 Dr 25 Allowance for impairment of trade receivables 6 960 - REQUIRED (a) Compute the list price of the goods that were sold to Zaiton on 5 July 2024. Assets are resources that a [1] (b) Compute the percentage of discount given to Zaiton on 14 July 2024. to [1] (c) Interpret the entries in Zaiton’s account on: (i) 17 July 2024 Interest of $ $1 500 was incurred in the year ended 30 September 2020 paid in the year ended 30 September 2021. [1] [2]

3 No part of the paper is to be reproduced without the approval of the Principal of Temasek Secondary School. (d) Name and explain the accounting theory which was applied when the entry on 25 July 2024 was recorded in the books. Name: are resources that a business owns or controls that are expected to provide Explanation: [2] (e) State the effect on profit if the entry on 25 July 2024 had not been made. Assets are resources that a business owns or controls that [1] [Total: 8] (ii) 25 July 2024 Interest of $3 000 was paid with a cheque. [1] [1]

4 No part of the paper is to be reproduced without the approval of the Principal of Temasek Secondary School. 2 Bodie runs a trading business with