CAMBRIDGE INTERNATIONAL EXAMINATIONS GCE Ordinary Level MARK SCHEME for the May/June 2014 series 7110 PRINCIPLES OF ACCOUNTS 7110/22 Paper 2 (Structured), maximum raw mark 120 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 2014 series for most IGCSE, GCE Advanced Level and Advanced Subsidiary Level components and some Ordinary Level components.
Page 2 Mark Scheme Syllabus Paper GCE O LEVEL – May/June 2014 7110 22 © Cambridge International Examinations 2014 1 (a) (i) Book-keeping refers to the maintaining of all double entry records/recording transactions (1) Accounting refers to the preparation (and interpretation) of financial statements (1)  (ii) Accounting entity means that the business is treated as being completely separate (1) from the owner of the business (1) .  (b) Hajar account $ $ April 1 Balance b/d 2100 April 7 Returns inwards 192 (1) 5 Sales 1600 (1) 18 Bank/cash 2058 (1) Discount allowed 42 (1) 30 Balance c/d 1408 3700 3700 May 1 Balance b/d 1408 (1) of  (c) Date Document 5 April Fashran sold goods on credit to Hajar Sales invoice (1) 7 April Hajar returned goods to Fashran purchased on the 5 April Credit note (1) 30 April Fashran issues a summary of Hajar’s account for the month of April Statement of account (1)  (d) Sales/debtors/trade receivables ledger (1) 
- Spring '19
- Balance Sheet, 1982, General Certificate of Secondary Education