Question

Number
3
(a)

(b)

Part
Mark

Mark Scheme Details

(i)
(ii)
(iii)
(iv)
(v)
(vi)

$12000
Purchase returns (accept returns)
Closing stock (accept Stock at 31 March 2003)
$5000
received
15000

$30000 x 100 (1) =

200000

(1)
(1)
(1)
(1)
(1)
(1)

15% (1) C/F

University of Cambridge Local Examinations Syndicate 2003

(a) (i) 5000

[1]

(ii) 1 April 2006 (must include year) [1]

(iii) 80 000

[1]

(iv) Inwards/(accept in)

[1]

(v) 37 000

[1]

(vi) 5600

[1]

(vii) Net profit (must show net)

[1]

(viii) 27 800

[1]OF only if wrong gross profit

[8]

Question 1
Salem Ahmed
Trading and Profit and Loss Account for the year ended 31 July 2006
$
Sales
Less Sales returns
Less Cost of Sales
Opening stock
Purchases
Less goods for own use

65 700
1 260

(1)
(1)

Less Closing stock

Gross Profit
Discount received
Bad debts recovered
Carriage outwards
Discount allowed
Administration expenses
Increase in provision for
doubtful debts (180 130)
Depreciation
Equipment
Fixtures (7800 7250)
Net loss

$
89 500
1 100

(1)
(1)

10 260

(1)

64 440
74 700
8 400

(1)O/F

210
600
21 215

(1)
(1)
(1)

50

(1)

405
550

(1)
(1)

88 400

66 300
22 100
610
170
22 880

23 030
150

(1)O/F
(2)
(1)
(1)

(1)O/F

Horizontal presentation acceptable

[Total 18]

UCLES 2006