0452_s12_qp_23.pdf - UNIVERSITY OF CAMBRIDGE INTERNATIONAL...

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This document consists of 20 printed pages. IB12 06_0452_23/RP © UCLES 2012 [Turn over *7620480409 * For Examiner's Use 1 2 3 4 5 Total UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education ACCOUNTING 0452/23 Paper 2 May/June 2012 1 hour 45 minutes Candidates answer on the Question Paper. No Additional Materials are required. READ THESE INSTRUCTIONS FIRST Write your Centre number, candidate number and name on all the work you hand in. Write in dark blue or black pen. You may use a soft pencil for any diagrams or graphs. Do not use staples, paper clips, highlighters, glue or correction fluid. DO NOT WRITE IN ANY BARCODES. Answer all questions. You may use a calculator. Where layouts are to be completed, you may not need all the lines for your answer. The businesses mentioned in this Question Paper are fictitious. At the end of the examination, fasten all your work securely together. The number of marks is given in brackets [ ] at the end of each question or part question.
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2 © UCLES 2012 0452/23/M/J/12 For Examiner's Use 1 Stewart Hanson is a sole trader who maintains a full set of accounting records including a three-column cash book. REQUIRED (a) Explain why the cash book is both a book of prime (original) entry and also part of the double entry system. [2] On 1 January 2012 Stewart Hanson had the following debit balances in his cash book: $ Cash 100 Bank 1942 Stewart Hanson’s transactions for the month of January 2012 included the following: Jan 3 Paid Paul Yim $398 by cheque in full settlement of his account of $410 8 Purchased office equipment, $1795, and paid by cheque 13 Withdrew $250, by cheque, to pay personal motor expenses 20 A cheque received in December 2011 for $115 from Sue West was dishonoured and returned by the bank 28 Cash sales, $1970 30 Paid all the remaining cash into the bank except $50 REQUIRED (b) Enter the above transactions in Stewart Hanson’s cash book on the page opposite. Balance the cash book at 31 January 2012 and bring down the balances on 1 February 2012. [10]
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3 © UCLES 2012 0452/23/M/J/12 [Turn over For Examiner's Use Bank $ Cash $ Discount received $ Details Date Bank $ Cash $ Discount allowed $ Details Stewart Hanson Cash Book Date
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4 © UCLES 2012 0452/23/M/J/12 For Examiner's Use (c) Stewart Hanson’s bank statement for January 2012 showed that his bank account was overdrawn for most of the month. (i) Explain why this overdraft occurred. [2] (ii) Explain how the overdraft could have been prevented. [2] (d) Explain how the business entity principle has been applied in the treatment of the personal motor expenses.
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