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ACCOUNTING Paper 2 Structured Written Paper with Marking Scheme 0985/22

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  • ACCOUNTING 0985 Paper 2
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  • ACCOUNTING 0985 Paper 2

Leo maintains a petty cash book using the imprest system. The imprest amount, which is $200, is restored on the first day of each month. All payments of less than $100 are made from petty cash. All cash receipts of less than $100 are paid into petty cash. On 1 April 2021 Leo had $48 i...

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Cambridge IGCSE (9–1)




ACCOUNTING Paper 2 Structured Written Paper with Marking Scheme 0985/22
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 16 pages. Any blank pages are indicated.


DC (JP) 213548
© UCLES 2021 [Turn over

, 2

1 Leo maintains a petty cash book using the imprest system. The imprest amount, which is $200, is
restored on the first day of each month.

All payments of less than $100 are made from petty cash. All cash receipts of less than $100 are
paid into petty cash.

On 1 April 2021 Leo had $48 in his petty cash box. Leo provided the following information for April
2021.

April 1 Restored petty cash imprest from the business bank account

5 Paid for office cleaning, $21

7 Paid for train ticket, $13

13 Paid $72 to Hunter, a trade payable

18 Paid taxi fare, $14

25 Received cash, $11, from Conrad, a trade receivable

REQUIRED

(a) Prepare Leo’s petty cash book for the month of April 2021, on page 3.

Balance the petty cash book and bring down the balance on 1 May 2021.




© UCLES 2021 0985/22/M/J/21

,© UCLES 2021

Leo
Petty Cash Book
Total Date Details Total Travel Office Ledger
received paid expenses accounts
$ 2021 $ $ $ $


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0985/22/M/J/21




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3
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[10]
[Turn over

, 4

(b) (i) Name the ledger to which each of the following would be posted.

The total of the column for travel expenses ......................................................................

The payment to Hunter .....................................................................................................
[2]

(ii) Name the accounting principle which is being applied when figures from the petty cash
book are posted to the appropriate ledgers.

..................................................................................................................................... [1]

Leo received a statement of account from Hunter.

REQUIRED

(c) State two purposes of issuing this statement to Leo.

1 ................................................................................................................................................

...................................................................................................................................................

2 ................................................................................................................................................

...................................................................................................................................................
[2]

Leo is considering making all payments over $50 to trade payables by credit transfer.

REQUIRED

(d) Advise Leo whether he should go ahead with this change. Justify your answer by providing
two advantages and two disadvantages.

...................................................................................................................................................

...................................................................................................................................................

...................................................................................................................................................

...................................................................................................................................................

...................................................................................................................................................

...................................................................................................................................................

...................................................................................................................................................

...................................................................................................................................................

...................................................................................................................................................

............................................................................................................................................. [5]

[Total: 20]

© UCLES 2021 0985/22/M/J/21

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