7110_w16_ms_22 - Cambridge International Examinations Cambridge Ordinary Level PRINCIPLES OF ACCOUNTS 7110\/22 Paper 2 Structured October\/November 2016

7110_w16_ms_22 - Cambridge International Examinations...

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® IGCSE is the registered trademark of Cambridge International Examinations. This document consists of 12 printed pages. © UCLES 2016 [Turn over Cambridge International Examinations Cambridge Ordinary Level PRINCIPLES OF ACCOUNTS 7110/22 Paper 2 Structured October/November 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 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 O Level – October/November 2016 7110 22 © UCLES 2016 1 (a) Fabio Trial Balance at 30 June 2016 Debit Credit $ $ Motor vehicle 9 500 Trade payables 8 500 Inventory 4 850 Revenue 22 000 Purchases 14 400 Bank loan 2 000 Bank overdraft 1 630 Trade receivables 7 250 Capital 3 000 Suspense (1) 1 130 (1)of 37 130 (1) 37 130 (1) NB:(of) can be Dr or Cr. [4] (b) General journal Debit Credit $ $ Suspense 270 (1) Revenue (Sales) 270 (1) Purchases 1 400 (1) Suspense 1 400 (1) NB: accept suspense account netted to 1130cr = (2) [4]
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Page 3 Mark Scheme Syllabus Paper Cambridge O Level – October/November 2016 7110 22 © UCLES 2016 (c) Transaction Book of prime entry Account to be debited Account to be credited Effect on capital $ Sold goods costing $900 on credit to Noah for the list price of $1500. Sales Journal Noah Revenue (Sales) +$600 Noah returned goods with a list price of $100 Sales returns/ returns in journal/day book (1) Sales returns/returns inwards (1) Noah (1) -$40 (1) Paid Sophie a cheque for $610. Cash book (1) Sophie (1) Bank (1) No effect (1) A debt, $230, owed by Zain was written off. General journal/ Journal/ Nominal journal (1) Bad debts/irrecoverable debts (1) Zain (1) -$230 (1) [12] [Total:20] 2 (a) Rent Receivable Account Date Details $ Date Details $ 2016 2015 Jan 31 Bank 700 (1) Oct 1 Balance b/d 2 500 Dec 31 Bank 6 700 (1) Sept 30 Income statement/ Profit and loss/ IS/ P&L 12 000 (1) 2016
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