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Pearson
LCCI Level 1 Certificate
in Bookkeeping (VRQ)
(ASE20091)
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Use black ink or ball-point pen
pencil can only be used for graphs, charts, diagrams, etc.
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Turn over
S48182A
2015 Pearson Education Ltd.
*S48182A0115*
1/1/1/1
Pearson LCCI Level 1 Certificate in Bookkeeping (VRQ) 1
Sample Assessment Materials Issue 2 September 2015 Pearson Education Limited 2015
Answer ALL questions. Write your answers in the spaces provided.
1 Bob Jones is an electrical wholesaler who sells goods on a credit basis to several local
retailers. His credit customers receive 25% trade discount.
On 1 June 2014, the following balances were due from his credit customers:
E Watts $150
Date Transaction
Bright Sparks returned goods, list price $52, which had been sold to them
7 June
on credit in May 2014
Received a cheque from E Watts in settlement of his account balance on
11 June
1 June 2014
28 June Received a cheque from Bright Sparks in full settlement of their account
(a) Complete the table for each transaction in Bob Jones books.
(4)
3 June
7 June
2
*S48182A0215*
2 Pearson LCCI Level 1 Certificate in Bookkeeping (VRQ)
Sample Assessment Materials Issue 2 September 2015 Pearson Education Limited 2015
Bob Jones is considering offering cash discounts to his credit customers.
(b) Explain one benefit that this may bring to his business.
(2)
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Sample Assessment Materials Issue 2 September 2015 Pearson Education Limited 2015
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Date Transaction
Bright Sparks returned goods, list price $52, which had been sold to them
7 June
on credit in May 2014
Received a cheque from E Watts in settlement of his account balance on
11 June
1 June 2014
28 June Received a cheque from Bright Sparks in full settlement of their account
(c) Prepare the following ledger accounts in Bob Jones books. Balance the accounts
on 30 June 2014 and bring the balances down on 1 July 2014.
(i) Roberts Electrical Account
(6)
4
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4 Pearson LCCI Level 1 Certificate in Bookkeeping (VRQ)
Sample Assessment Materials Issue 2 September 2015 Pearson Education Limited 2015
(iii) E Watts Account
(4)
5
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BLANK PAGE
6
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Sample Assessment Materials Issue 2 September 2015 Pearson Education Limited 2015
2 Mrs Williams uses a petty cash book as part of her accounting system. The imprest
amount is $300. On 1 March 2014 the balance in the petty cash book was $26.50.
During the first week in March she made the following petty cash transactions.
Petty Cash
Date Voucher Transaction
Number
Prepare the petty cash book for the period 1 March 2014 8 March 2014. Balance the
book on 7 March 2014 and bring the balance down on 8 March 2014.
7
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Sample Assessment Materials Issue 2 September 2015 Pearson Education Limited 2015
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Accounts
Ledger
$
Travel
$
Stationery
$
Postages
$
Petty Cash Book
Payments
$
Voucher
Number
Details
Date
Receipts
$
8
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8 Pearson LCCI Level 1 Certificate in Bookkeeping (VRQ)
Sample Assessment Materials Issue 2 September 2015 Pearson Education Limited 2015
3 A sole trader extracted the following information from the month of April 2014.
$
21 000 (Dr)
Trade receivables ledger balances on 1 April 2014
298 (Cr)
For the month of April 2014
(a) Prepare a trade receivables ledger control account for April 2014. Balance the
account and bring the balance down to 1 May 2014.
(11)
Trade Receivables Ledger Control Account
9
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(b) (i) Explain why a business would use a trade receivables ledger control account.
(2)
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(ii) Describe how a minority balance could occur in a trade receivables ledger
control account.
(2)
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Sample Assessment Materials Issue 2 September 2015 Pearson Education Limited 2015
4 Mrs Kalit provided the following information for the year ended 30 September 2014
after the preparation of her income statement.
Drawings 40 944
(a) Prepare the statement of financial position for Mrs Kalit at 30 September 2014.
(16)
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12 Pearson LCCI Level 1 Certificate in Bookkeeping (VRQ)
Sample Assessment Materials Issue 2 September 2015 Pearson Education Limited 2015
On 1 October 2014 Mrs Kalit purchased a new vehicle to help her with deliveries to
customers. She is unsure how to treat expenditure related to this in her books.
(b) Complete the table to indicate with a tick () if the item is capital expenditure or
revenue expenditure.
(6)
13
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5 (a) Describe each of the following payment methods:
(i) direct debit
(2)
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(b) On 30 June 2014 the cash book of Mr Singh showed a debit balance of $3 290 in
his bank account. On the same day, his bank statement showed a credit balance
of $2 806.
Following an investigation, the following differences were identified:
Several cheques issued in June 2014 had not been presented to the bank for
payment. These totalled $2 100.
A payment by standing order on 23 June 2014 for $600, for rent, had not been
recorded in his cash book.
A deposit of cash and cheques paid into the bank on 29 June 2014 totalling
$2 188. This had not been processed by the bank.
A payment of $150 for his monthly electricity bill was paid by direct debit on
28 June 2014. This had not been recorded in his cash book.
Bank charges recorded on the bank statement of $36 had not been entered in
the cash book.
A receipt of monies from a trade receivable (Ms Hussein) totalling $390 had
been paid directly into the bank on 12 June 2014. This had not been recorded
in the cash book.
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Sample Assessment Materials Issue 2 September 2015 Pearson Education Limited 2015
(i) Update the cash book at 30 June 2014, bringing the balance down on
1 July 2014.
(6)
Cash Book (Bank Column only)
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15
*S48182A01515*
Pearson LCCI Level 1 Certificate in Bookkeeping (VRQ) 15
Sample Assessment Materials Issue 2 September 2015 Pearson Education Limited 2015
16 Pearson LCCI Level 1 Certificate in Bookkeeping (VRQ)
Sample Assessment Materials Issue 2 September 2015 Pearson Education Limited 2015
Mark Scheme
All candidates must receive the same treatment. Examiners must mark the
first candidate in exactly the same way as they mark the last.
All the marks on the mark scheme are designed to be awarded. Examiners
should always award full marks if deserved, i.e. if the answer matches the
mark scheme. Examiners should also be prepared to award zero marks if
the candidates response is not worthy of credit according to the mark
scheme.
Crossed out work should be marked UNLESS the candidate has replaced it
with an alternative response.
Where marks are awarded for own figure answers, these marks can only
be awarded if evidence of how the candidate arrived at their values has
been provided (their workings).
For calculation questions full marks can be awarded where correct answer
is seen with no workings shown, unless question states that candidate
must provide workings.
(4)
3 Sales 90
June (2)/120
(1)
29 Sales 210
June (2)/280
(1)
480 480
1 Balance 480
July b/d (1 of for
both cr
and dr
being
the
same)
(6)
(7)
E Watts Account
300 300 (1 of
for both cr
and dr
being the
same)
(25)
54 140 54 140
(11)
(2)
Mrs Kalit
Statement of Financial Position at 30 September 2014
(1)
$ $ $
Non-current Assets Cost Total Carrying
Dep value
Fixtures and fittings 20 000 6 000 14 000 (1)
Motor vehicles 22 000 7 000 15 000 (1)
42 000 13 000 29 000
Current Assets
Inventory 21 399 (1)
Trade receivables 32 121 (1)
Petty cash 100 (1)
Total Current Assets 53 620
Total Assets (1) 82 620 (1)
EQUITY AND
LIABILITIES
Equity Opening 46 273 (1)
balance
Profit for the year 48 930 (1)
95 203
Drawings 40 944 (1)
Total Equity 54 259
NON-CURRENT
LIABILITIES
Bank loan 5 000 (1)
CURRENT
LIABILITIES
Trade Payables 21 167 (1)
Bank Overdraft 2 194 (1)
Total Current Liabilities 23 361
Total Equity and 82 620 (1)
Liabilities (1) (16)