2024 CTSS Prelim 4E5N P1 Qn

Name : _________________________ Index Number : ___________ Class: _________ Clementi Town Secondary SchoolPreliminary Examination 2024Secondary 4 & 5PRINCIPLES OF ACCOUNTS7087/01Paper 1 11 September 20241 hourCandidates answer on the Question Paper.No Additional Materials are required.CLEMENTI TOWN SECONDARY SCHOOL CLEMENTI TOWN SECONDARY SCHOOL CLEMENTI TOWN SECONDARY SCHOOL CLEMENTI TOWN SECONDARY SCHOOLCLEMENTI TOWN SECONDARY SCHOOL CLEMENTI TOWN SECONDARY SCHOOL CLEMENTI TOWN SECONDARY SCHOOL CLEMENTI TOWN SECONDARY SCHOOLCLEMENTI TOWN SECONDARY SCHOOL CLEMENTI TOWN SECONDARY SCHOOL CLEMENTI TOWN SECONDARY SCHOOL CLEMENTI TOWN SECONDARY SCHOOLCLEMENTI TOWN SECONDARY SCHOOL CLEMENTI TOWN SECONDARY SCHOOL CLEMENTI TOWN SECONDARY SCHOOL CLEMENTI TOWN SECONDARY SCHOOLCLEMENTI TOWN SECONDARY SCHOOL CLEMENTI TOWN SECONDARY SCHOOL CLEMENTI TOWN SECONDARY SCHOOL CLEMENTI TOWN SECONDARY SCHOOLREAD THESE INSTRUCTIONS FIRSTDo not open the booklet until you are told to do so. Write your name, index number and class on all the work you hand in.Write in dark blue or black pen. The use of an approved calculator is allowed. Do not use staples, paper clips, glue, or correction fluid. 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 40. ______________________________________________________________________________________This question paper consists of 11 printed pages including this cover page, and 5 blank pages.For Examiner’s Use 40 O

2 Principles of Accounts / Paper 1Secondary 4 & 5Preliminary Examination 2024 1Rachel started a new business selling electronic products.She purchased supplies on credit from Harly Norman Wholesale Electrical.The following transactions took place during the month of June 2024. 6 JuneRachel purchased electrical goods, list price $3 000 and received a trade discount of 10%.9 JuneRachel returned some damaged electrical goods, list price $600 bought on 6 June, to Harly Norman Wholesale Electrical.15 JuneRachel paid $1 836 by cheque, as full settlement for the amount owing.REQUIRED(a)State the type of business Rachel had started.………………..……………………………………………………………………………………………………………………………………………………………………………........ [1](b)Complete the following table to name the source document that Rachel would use to record each of the transactions on the following dates.Source document6 June9 June15 June[3](c)State the purpose of a trade discount.………………..……………………………………………………………………………………………………………………………………………………………………………........ [1](d)Calculate the percentage of the cash discount on 15 June 2024.………………..…………………………………………………………………………………………………..…………………………………………………………………………………………………..……………………………………………………………………………………………………………………………………………………………………………........ [2]

5 CTSS 20227087/Prelim/01/4E5N/22 [Turn Over On 20 June 2024, Rachel received a call fro