ACCOUNTING Paper 2 with Merged Marking Scheme 0452/22
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Course
ACCOUNTING Paper 2 0452
Institution
ACCOUNTING Paper 2 0452
1 Kamika is a clothing wholesaler who buys and sells on both cash and credit terms. She maintains
a full set of accounting records and prepares monthly control accounts.
REQUIRED
(a) State two advantages to Kamika of preparing a monthly sales ledger control account.
1 ................
Cambridge International Examinations
Cambridge International General Certificate of Secondary Education
ACCOUNTING Paper 2 with Merged Marking Scheme 0452/22
February/March 2018
1 hour 45 minutes
Candidates answer on the Question Paper.
No Additional Materials are required.
READ THESE INSTRUCTIONS FIRST
Write your Centre number, candidate number and name on all the work you hand in.
Write in dark blue or black pen.
You may use an HB pencil for any diagrams or graphs.
Do not use staples, paper clips, glue or correction fluid.
DO NOT WRITE IN ANY BARCODES.
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.
At the end of the examination, fasten all your work securely together.
The number of marks is given in brackets [ ] at the end of each question or part question.
This document consists of 21 printed pages and 3 blank pages.
1 Kamika is a clothing wholesaler who buys and sells on both cash and credit terms. She maintains
a full set of accounting records and prepares monthly control accounts.
REQUIRED
(a) State two advantages to Kamika of preparing a monthly sales ledger control account.
(c) Complete the following table. Place a tick (✓) to show where each item would appear in
Kamika’s purchases ledger control account. If the item would not appear, place a tick (✓)
in the no entry column.
debit credit no entry
opening balance owed to credit suppliers
credit purchases
cash purchases
cash discount received
trade discount received
cheques paid to credit suppliers
interest charged by credit suppliers
returns to credit suppliers
contra between sales and purchases ledgers
[9]
Kamika applies all the accounting principles when maintaining accounting records and preparing
financial statements.
REQUIRED
(d) Name the accounting principle applied in each of the following situations.
principle
Kamika uses the double entry system of book-keeping when
recording transactions in her ledgers.
Kamika adjusted the charge for insurance in the income statement
for an amount prepaid at the year-end.
Kamika adjusts her provision for doubtful debts at the end of each
year so it is always 3% of her trade receivables.
Kamika intends to trade for several years and values her premises
at net book value, not expected sales value, in her statement of
financial position.
Kamika did not make any entry in her accounting records when a
competitor reduced his prices even though it may affect her sales.
Kamika did not make any entry in her accounting records when
a customer asked for goods to be put aside for him to collect
sometime in the future.
[6]
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