9706_w16_ms_32 - Cambridge International Examinations Cambridge International Advanced Level ACCOUNTING 9706\/32 Paper 3 Structured Questions

9706_w16_ms_32 - Cambridge International Examinations...

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® IGCSE is the registered trademark of Cambridge International Examinations. This document consists of 10 printed pages. © UCLES 2016 [Turn over Cambridge International Examinations Cambridge International Advanced Level ACCOUNTING 9706/32 Paper 3 Structured Questions October/November 2016 MARK SCHEME Maximum Mark: 150 Published 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 October/November 2016 series for most Cambridge IGCSE ® , Cambridge International A and AS Level components and some Cambridge O Level components.
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Page 2 Mark Scheme Syllabus Paper Cambridge International A Level – October/November 2016 9706 32 © UCLES 2016 1 (a) Responses could include: Donation Member subscription Voluntary Basis Member’s obligation From Members and non-members From members only Irregular payment Regular payment, i.e. monthly or annually Can be ear marked for specific purpose e.g. For daily running of the organisation e.g. Buy new equipment Paying for day to day expenses Can be capitalised Cannot be capitalised ( 1 mark ) × 3 differences [3] (b) Sunshine Social Club Shop Trading Account for year ended 31 December 2015 $ $ Gift shop takings 12 420 Inventory at 1 Jan 2015 2 400 Purchases W1 84 300 (2)* Inventory at 31 December 2015 18 600 Cost of sales 89 700 (1)OF Gross profit 34 500 (1)OF Shopkeeper wages W2 23 750 (2) Depreciation of shop equipment W3 11 800 (2) Insurance W4 2 300 (3) Water and electricity W5 5 640 (3) Loss (8 990) (1)OF [15] Workings W1 Gift shop purchases $74 500 + ($64 300 – $54 500) (1) = $84 300 (1)OF W2 Shopkeeper wages $30 400 – ($3450 + $3200) (1) = $23 750 (1)OF W3 Depreciation of shop equipment ($55 000 + $4000) (1) × 20% = $11 800 (1)OF W4 Insurance $9460 + ($1400 (1) – $1660 (1) = $9200 Allocated to gift shop $9200 × 25% = $2300 (1)OF W5 Water and electricity $14 800 - $2700 (1) + $2000 (1) = $14 100 Allocated to gift shop $14 100 x 40% = $5640 (1)OF (c) Responses could include: sell goods to non-members (1) to increase revenue (1) reduce (stop) discount to members (1) e.g. sell goods at market price (1) reduce expenses (1) e.g. reduce staff wages (1) or find cheaper suppliers (1) review the fairness of the allocation of expenses (1) and reduce the proportion of expenses allocated to gift shop (1) Accept any reasonable alternative. ( 1 mark for point + 1 mark for development) × 2 ways [4]
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Page 3 Mark Scheme Syllabus Paper Cambridge International A Level – October/November 2016 9706 32 © UCLES 2016 (d) ($48 000 + $36 000) (1) – $68 000 (1) × 50% = $8000 (1)OF [3] [Total: 25] 2 (a) (i) Alpha Limited Manufacturing Account for the year ended 30 April 2016 $ $ Raw materials at 1 May 2015 1 000 Purchases of raw materials 12 200 Carriage inwards 1 100 (1) 13 300 14 300 Purchases of raw materials 3 100 Cost of raw materials consumed 11
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