9706_m16_ms_22 - CAMBRIDGE INTERNATIONAL EXAMINATIONS Cambridge International Advanced Subsidiary and Advanced Level MARK SCHEME for the March 2016

9706_m16_ms_22 - CAMBRIDGE INTERNATIONAL EXAMINATIONS...

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® IGCSE is the registered trademark of Cambridge International Examinations. CAMBRIDGE INTERNATIONAL EXAMINATIONS Cambridge International Advanced Subsidiary and Advanced Level MARK SCHEME for the March 2016 series 9706 ACCOUNTING9706/22 Paper 22 (AS Level Structured Questions), maximum raw mark 90 This mark scheme is published as an aid to teachers and candidates, to indicate the requirements of the examination. It shows the basis on which Examiners were instructed to award marks. It does not indicate the details of the discussions that took place at an Examiners’ meeting before marking began, which would have considered the acceptability of alternative answers. Mark schemes should be read in conjunction with the question paper and the Principal Examiner Report for Teachers. Cambridge will not enter into discussions about these mark schemes. Cambridge is publishing the mark schemes for the March 2016 series for most Cambridge IGCSE®and Cambridge International A and AS Level components.
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Page 2 Mark Scheme Syllabus Paper Cambridge International AS/A Level – March 20169706 22 © Cambridge International Examinations 2016 1(a)Seema Limited Income Statement for the year ended 30 June 2015 $$$Revenue 526 000Inventory at 1 July 201437 500Purchases342 000Inventory at 30 June 2015(29 400)350 100Gross Profit 175 900(1)Selling and distribution expenses37 510Depreciation on warehouse buildings12 000(1)Depreciation on motor vehicles17 500(1)67 010(1)OFAdministrative expenses36 130Depreciation on office equipment2 350(1)Bad debts200(1)Increase in provision for Doubtful debts116(1)38 796(1)OF105 806Profit from operations70 094Finance costs1 250(1)Profit for the year (Must be labeled)68 844(1)OF[10]Workings Depreciation office equipment 25 000 – 1500 × 10%
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Page 3 Mark Scheme Syllabus Paper Cambridge International AS/A Level – March 20169706 22 © Cambridge International Examinations 2016 (b)Seema Limited Statement of financial Position at 30 June 2015 $ $ $ Cost AccumulateddepreciationNet bookvalueNon-current assets Warehouse buildings 300 00024 000276 000Motor vehicles 70 00030 00040 000Office equipment 25 0003 85021 150395 00057 850337 150Current assets Inventory 29 400Trade and other receivables 4 579
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