# IGCSE Accounting 0452/22 Paper 2 - Exam-Mate

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Cambridge International ExaminationsCambridge International General Certificate of Secondary EducationOctober/November 2018Paper 21 hour 45 minutesCandidates answer on the Question Paper.No Additional Materials are required.READ THESE INSTRUCTIONS FIRSTWrite 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.mAt 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.w.exam-m[Turn overwDC (RCL (GO)) 156839/3 UCLES 2018ate.coThis document consists of 21 printed pages and 3 blank pages.w* 0 9 6 3 2 2 4 4 3 5 *0452/22ACCOUNTING

21Rajinder owns an engineering business. His financial year ends on 31 July.His cash book for July 2018 was as follows.RajinderCash BookDate2018July 1315DetailsBalance b/dW LimitedSale of oldmachinery22 Cash29 Sales* Dis. stands for discountDis.* Cash Bank Date 2018113July 11858227500450182208802227DetailsBalance b/dPetty cashAyesha (chequedishonoured)MachineryBankAM LimitedDis.* Cash Bank 40741938113314204501312REQUIRED(a) ii(i) State the significance of the balance shown on the credit side of the cash book on 1 July2018. [1]i(ii) State why the entry on 2 July was required. [1](iii) Calculate the percentage that the discount on 3 July represents. [1](iv) Suggest one possible reason why the cheque from Ayesha was dishonoured. [1]i(v) Explain the entries on 22 July.coe.at-m.m.ww.ex0452/22/O/N/18w UCLES 2018am. [2]

3(vi) State the meaning of the entry on 29 July. [1](b) Calculate the cash and bank balances at the end of July. Name the section of the statementof financial position in which each balance would appear.Cash balance Section of statement of financial position Bank balance Section of statement of financial position [4](c) Complete the following accounts in Rajinder’s ledger.Close the accounts on 31 July 2018 by balancing or by making a transfer to an appropriateaccount.Some entries have already been made in the accounts during the year.RajinderSales accountDateDetails Date2018June 30 Details Total to date13 500 Details AM Limited accountDateDetails Date2018July 1 14 /N/18w UCLES 2018[5][Turn over

4(d) Prepare the discount allowed account for the year ended 31 July 2018.The total discount allowed up to 30 June 2018 was 178.Close the account on 31 July 2018 by making a transfer to an appropriate account.RajinderDiscount allowed accountDateDetails DateDetails [3]ww.ex0452/22/O/N/18w UCLES 2018am-mate.com[Total: 19]

52Adil is a wholesaler. All his sales are made on credit terms. His financial year ends on 31 August.REQUIRED(a) State the meaning of each of the following terms.Bad debts.Bad debts recovered.Provision for doubtful debts. [3]On 31 August 2018 Adil received a cheque for 0.20 in a dollar from Mahinda, a credit customer.The balance of the account was irrecoverable.REQUIRED(b) Record this information in the following accounts in Adil’s ledger.Close the accounts on 31 August 2018 by balancing or by making a transfer to an appropriateaccount.Some entries have already been made in the accounts during the year.AdilMahinda accountDate2018Feb 1Sales Details 600Date2018Feb 10Sales returns Details w.ex[Turn overw0452/22/O/N/18w UCLES 2018am-mate.com30

6Bad debts accountDate2018Aug 30Total to date Details DateDetails 710 [4]Adil is proposing to stop selling on credit and to sell on cash terms only.REQUIRED(c) (i)State one possible advantage to Adil of going ahead with this proposal. [1](ii) State one possible disadvantage to Adil of going ahead with this proposal. [1](d) Suggest two ways (apart from stopping selling on credit) in which Adil could reduce the risk ofbad debts.1 .2 .ww.ex0452/22/O/N/18w UCLES 2018am-mate.com. [2]

7Adil has maintained a provision for doubtful debts for many years. He provided the followinginformation.Trade receivables on 31 August 2017Trade receivables on 31 August 2018 (after writing off Mahinda’s account) 44 20042 000On 31 August 2018 Adil decided to reduce the rate of the provision for doubtful debts from 3%to 2½%.REQUIRED(e) Prepare the provision for doubtful debts account for the year ended 31 August 2018. Balancethe account and bring down the balance on 1 September 2018.AdilProvision for doubtful debts accountDateDetails DateDetails [4](f)Explain how Adil is applying the accruals (matching) principle by maintaining a provision fordoubtful debts. [2](g) Name two other accounting principles which Adil is applying maintaining a provision fordoubtful debts.1 .w.ex[Turn overw0452/22/O/N/18w UCLES 2018am-mate.com2 . [2]

8On 20 September 2018 Adil received a cheque for 250 from Amaya whose account had beenwritten off in 2017.REQUIRED(h) State how this was recorded in Adil’s books of account.debitcredit[2](i)State how this transaction would affect the profit for the year ending 31 August 2019.[1]ww.ex0452/22/O/N/18w UCLES 2018am-mate.com[Total: 22]

9w.ex[Turn overw0452/22/O/N/18w UCLES 2018am-mate.comPLEASE TURN OVER

103Paul and Ann are in partnership. Their financial year ends on 30 September.When they started the business they drew up a partnership agreement which provided for:Interest on capital at 4% per annumInterest on drawings at 5%An annual salary of 7000 for PaulInterest on any loans from partners at 6% per annumSharing of profits and losses equallyOn 1 October 2017 the balances on the partners’ accounts were as follows:Capital accountCurrent accountLoan accountPaul 50 0001 150 credit10 000Ann 85 0003 125 debitThe interest on loan is credited to Paul’s current account at the end of each financial year.On 1 April 2018 Paul introduced a motor vehicle, 14 500, into the business. He also depositedan amount into the business bank account so that his total capital was 80 000.The partners agreed that Paul’s salary should be increased by 1000 per annum starting on1 April 2018.Drawings during the year ended 30 September 2018 were as follows:PaulAnn 9 00011 000On 30 September 2018 Ann transferred 5000 from her capital account to her currentaccount.ww.ex0452/22/O/N/18w UCLES 2018am-mate.comThe profit for the year ended 30 September 2018 after loan interest was 11 350.

11REQUIRED(a) Prepare journal entries to record the following:1The introduction of additional capital by Paul on 1 April 2018.2The transfer of 5000 from Ann’s capital account to her current account on 30 September2018.Narratives are not required.Paul and AnnJournalDateDetailsDebit Credit w.ex[Turn overw0452/22/O/N/18w UCLES 2018am-mate.com[5]

12(b) Prepare the profit and loss appropriation account for the year ended 30 September 2018.Paul and AnnProfit and Loss Appropriation Account for the year ended 30 September 2018

ACCOUNTING 0452/22 Paper 2 October/November 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 .

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