7110_s16_ms_22 - Cambridge International Examinations Cambridge Ordinary Level PRINCIPLES OF ACCOUNTS 7110\/22 May\/June 2016 Paper 2 MARK SCHEME Maximum

7110_s16_ms_22 - Cambridge International Examinations...

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® IGCSE is the registered trademark of Cambridge International Examinations. This document consists of 11 printed pages. © UCLES 2016 [Turn over Cambridge International Examinations Cambridge Ordinary Level PRINCIPLES OF ACCOUNTS 7110/22 Paper 2 May/June 2016 MARK SCHEME Maximum Mark: 120 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 May/June 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 O Level – May/June 2016 7110 22 © Cambridge International Examinations 2016 1 (a) Assets $ Liabilities $ Capital $ Inventory 2850 Other payable 200 Trade receivable 600 Bank 450 Motor vehicle 4500 5% Bank loan 5000 7 950 5650 2300 (1) [1] (b) Jaafar account Date Details $ Date Details $ 2015 2015 May 1 Balance b/d 600 May 5 Sales returns / returns in 102 (1) 4 Sales 1275 (1) 16 Bank 588 (1of) Discount allowed 12 (1of) 31 Balance c/d 1173 1875 1875 June 1 Balance b/d 1173 (1of) [5] (c) Bulk purchase by Jaafar Loyal customer (1) mark × 2 points [2]
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Page 3 Mark Scheme Syllabus Paper Cambridge O Level – May/June 2016 7110 22 © Cambridge International Examinations 2016 (d) Electricity account Date Details $ Date Details $ 2015 2015 May 17 Bank 440 (1) May 1 Balance b/d 200 31 Balance c/d 55 (1) 31 Income Statement (1) 295 (1of) 495 495 June 1 Balance b/d 55 (1of) [5] (e) Matching / Accrual concept [1] (f) Source document Book of prime entry Effect on
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