MSHS 2024 POA P2 QP

[Turn over ClassIndex NumberName MARIS STELLA HIGH SCHOOLPRELIMINARY EXAMINATIONSSECONDARY FOURPRINCIPLES OF ACCOUNTS7087/02Paper 222 August 2024 Candidates answer on the Question Paper.Additional Materials: Insert2 hoursREAD THESE INSTRUCTIONS FIRSTWrite your class, index number and name in the spaces at the top of this page.Write in dark blue or black pen.Do not use staples, paper clips, glue, or correction fluid.The use of an approved calculator is allowed.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.The total number of marks for this paper is 60.For Examiner’s Use60This document consists of 16 printed pages and 1 insert.

2Answer all questions.1Refer to the Insert for data for Question 1.REQUIRED(a)Prepare the statement of financial performance for the year ended 31 May 2024. Happiness Pte LimitedStatement of Financial Performance for the year ended 31 May 2024………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…

3 [Turn over ………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…[10]

4(b)Prepare the statement of financial position as at 31 May 2024.Happiness Pte LtdStatement of Financial Position as at 31 May 2024………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…

5 [Turn over ………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…[10][Total: 20]

62Gabriel operates a trading business in lights and bulbs. He has provided the following information from the bank statement and cash at bank account for the month of April 2024. Bank statementDateParticularsPaymentsReceiptsBalance2024$$$Apr 1Balance b/d 4 000 Cr1Cheque 1122 600 3 400 Cr4Cheque deposit1 600 5 000 Cr5Credit transfer (Timothy)1 500 6 500 Cr6Cheque 1123 500 6 000 Cr7Bank interest 100 5 900 Cr9Direct payment (Rent)3 000 2 900 Cr12Cheque deposit2 000 4 900 Cr16Cheque 11241 300 3 600 Cr 17Rejected cheque (deposited on 12 April)2 000 1 600 Cr27Cheque 1125 1 000 600 Cr30Bank charges 300 300 CrCash at bankDateParticularsCheque no.DebitCreditBalance2024$$$Apr 1Balance b/d 3 400 Dr3Sales revenue1 600 5 000 Dr5Advertising expense1123 500 4 500 Dr10Matthew Light2 000 6 500 Dr11Inventory11243 100 3 400 Dr24Ayden Trading11251 000 2 400 Dr26Max Lights 580 2 980 Dr28Jair Enterprise1126 1 700 1 280 DrAdditional information(i)The business wrongly recorded Cheque no. 1124 in its books.(ii)It was later discovered that the bank interest charged on 7 April was an error by the bank.

7 [Turn over REQUIRED(a)Update the cash at bank account at 30 April 2024. Start with the $1 280 debit balance.………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..[5](b)Prepare the bank reconciliation statement as at 30 April 2024. ………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..…………………………………….………………………………………….…………………..………………………………