ACCOUNTING Paper 2 Structured Written Paper with Marking Scheme 0985/21
5 views 0 purchase
Course
ACCOUNTING 0985 Paper 2
Institution
ACCOUNTING 0985 Paper 2
Rahat is a trader.
The following transactions took place in March 2021.
March 3 Cash sales, $580, were paid directly into Rahat’s business bank account
6 Paid insurance, $360, by direct debit
9 Paid $196 to GH Limited by telephone transfer, having deducted 2% cash
discount from ...
ACCOUNTING Paper 2 Structured Written Paper with Marking Scheme 0985/21
May/June 2024
1 hour 45 minutes
You must answer on the question paper.
No additional materials are needed.
INSTRUCTIONS
● Answer all questions.
● Use a black or dark blue pen. You may use an HB pencil for any diagrams or graphs.
● Write your name, centre number and candidate number in the boxes at the top of the page.
● Write your answer to each question in the space provided.
● Do not use an erasable pen or correction fluid.
● Do not write on any bar codes.
● You may use a calculator.
● International accounting terms and formats should be used as appropriate.
● You should show your workings.
INFORMATION
● The total mark for this paper is 100.
● The number of marks for each question or part question is shown in brackets [ ].
● Where you are asked to complete a layout, you may not need all the lines for your answer.
This document has 24 pages. Any blank pages are indicated.
(b) Complete the following table by placing a tick (✓) in the correct column to indicate whether
each item would be used to update the cash book or would appear in the bank reconciliation
statement.
Update the Bank
cash book reconciliation
statement
Cheque from Burgess dishonoured
Cheque to Colin unpresented
Overdraft interest
Standing order paid for rates
[4]
Rahat is concerned about the level of her bank overdraft. She is considering applying for a bank
loan. This would enable her to pay off her bank overdraft and to purchase new office furniture.
REQUIRED
(c) Advise Rahat whether she should apply for the bank loan. Justify your answer by providing
two advantages and two disadvantages.
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller masigaderic. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.49. You're not tied to anything after your purchase.
