Professional Documents
Culture Documents
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Centre Number
Candidate Number
Candidate Signature
ACC1
9.00 am to 10.00 am
Instructions
z Use blue or black ink or ball-point pen.
z Fill in the boxes at the top of this page.
z Answer all questions.
z Answer the questions in the spaces provided.
z All workings must be shown and clearly labelled; otherwise marks for
method may be lost.
z Make and state any necessary assumptions.
z Do all rough work in this book. Cross through any work you do not
want to be marked.
z Page 13 is perforated. Tear it out at the start of the examination and
use it when answering Question 5.
Mark
Question
Mark
3
4
Total (Column 1)
Total (Column 2)
TOTAL
Examiners Initials
Information
The maximum mark for this paper is 80.
Four of these marks will be awarded for using good English,
organising information clearly and using specialist vocabulary where
appropriate.
z The marks for questions are shown in brackets.
z
G/M25601/Jan08/ACC1
6/6/6/6/6/
ACC1
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Bank overdraft
5 080
Capital
80 000
Carriage inwards
Carriage outwards
2 690
8 950
Discounts allowed
Discounts received
Drawings
3 730
2 420
24 560
Mortgage on premises
74 200
Premises
165 000
Property repairs
Purchases
12 040
73 550
Rent received
7 200
Returns inwards
1 690
Returns outwards
1 410
Sales
202 400
43 120
Suspense account
14 720
Trade creditors
Trade debtors
VAT (due from HM Revenue and Customs)
14 990
18 710
1 550
32 110
395 060
G/M25601/Jan08/ACC1
Cr
395 060
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REQUIRED
(a) Prepare a corrected trial balance.
Trial Balance at 31 December 2007
Dr
Cr
Bank overdraft
Capital
Carriage inwards
Carriage outwards
Discounts allowed
Discounts received
Drawings
Mortgage on premises
Premises
Property repairs
Purchases
Rent received
Returns inwards
Returns outwards
Sales
Stock at 1 January 2007
Suspense account
Trade creditors
Trade debtors
VAT (due from HM Revenue and Customs)
Wages and salaries
(10 marks)
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G/M25601/Jan08/ACC1
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Brian Gartside has been trading for many years and has employed the same
accounting staff since the business began. He is now considering the introduction of a
computerised accounting system for the business.
REQUIRED
(b) Explain two possible positive and two possible negative reactions of his staff to the
proposed introduction of a computerised accounting system.
Positive reactions
1 ..........................................................................................................................................
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2 ..........................................................................................................................................
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(4 marks)
Negative reactions
1 ..........................................................................................................................................
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2 ..........................................................................................................................................
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(4 marks)
G/M25601/Jan08/ACC1
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Subsidiary book
Account to be
debited
Account to be
credited
B Jones
Debtor account
Sales
Turn over 8
G/M25601/Jan08/ACC1
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Dr
Details
Cr
6 Dec Balance
Balance
613 Cr
250
863 Cr
500
363 Cr
112
251 Cr
100
151 Cr
G/M25601/Jan08/ACC1
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G/M25601/Jan08/ACC1
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G/M25601/Jan08/ACC1
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VAT Account
Details
Cr
Date
Details
May 1
Balance b/d
8 422
50
(8 marks)
(b) What does the closing balance on the VAT account mean?
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(1 mark)
(c) Where in the financial statements will the closing balance on the VAT account appear?
.............................................................................................................................................
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(1 mark)
Turn over 8
G/M25601/Jan08/ACC1
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10
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Tear page 13 out of this question paper and use it when answering Question 5. Page 13
gives information relating to a business owned by James Seddon.
REQUIRED
(a) Prepare a profit and loss account for the month ended 31 December 2007.
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(10 marks)
G/M25601/Jan08/ACC1
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END OF QUESTIONS
G/M25601/Jan08/ACC1
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12
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G/M25601/Jan08/ACC1
13
Tear along the perforations to remove this page and use it when answering Question 5.
7 844
37 864
493
2 200
622
19 320
815
1 860
Motor vehicle
12 400
1 240
42 650
Trade creditors
5 692
Trade debtors
4 310
G/M25601/Jan08/ACC1
600
526
5 190
14
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G/M25601/Jan08/ACC1
15
There are no questions printed on this page
G/M25601/Jan08/ACC1
16
There are no questions printed on this page