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Ix C - Accounts - Paper 1 - Mar 2021
Ix C - Accounts - Paper 1 - Mar 2021
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GENERAL INSTRUCTIONS
INSTRUCTIONS
• For each question there are four possible answers A, B, C and D. Choose the one you
consider correct and record your choice in soft pencil on the multiple choice answer
sheet.
• Write your name, centre number and candidate number on the multiple choice answer
sheet in the spaces provided unless this has been done for you.
INFORMATION
• Each correct answer will score one mark. A mark will not be deducted for a wrong
answer.
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2 Agnes and Brian operate in similar businesses. They provide the following information.
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5 The following balances appeared in Hussein's books
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7 On 1 March 2020 the bank column of a cash book had a credit balance of $290. During March
cheques totalling $580 were received and cheques totalling $610 were paid to suppliers. Bank
charges of $12 incurred in February were also entered in the cash book. What was the balance of
the bank column in the cash book on 1 April 2020?
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8 Ziningi prepared a trial balance. The total of the debit column was $225 750 and the total of the
credit column was $225 250.
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11 A trader uses the reducing balance method of depreciation. What effect will this have over the
life of the non-current asset?
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12 Which entries did Sally make to record the following transaction? Rashid, a credit customer,
returned damaged goods.
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14 Ann is a trader. On 1 April Cindy’s account in Ann’s ledger showed a credit balance of $520.
The following transactions took place during April. April 2 Ann returned goods, $30, to Cindy. 14
Ann bought goods, $210, from Cindy, and paid in cash. Which statement about the balance on
Cindy’s account in Ann’s ledger on 30 April is correct?
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15 Goods bought on credit by Tumelo from Tebogo are returned before they are paid for. Tumelo
keeps a full double entry system. Where will Tumelo record the return of goods?
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16 Why is inventory valued at net realisable value when this is lower than cost?
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19 Dilip is a manufacturer. He purchased a machine on credit from Sachin. How did Dilip record
this?
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22 The totals of a trial balance agreed but it was found that the purchase of office equipment had
been debited to office expenses account. Which type of error has been made?
Somraj updated his cash book as required. What was the updated cash book balance on 31
January?
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24 A farmer sold a piece of land at market value. How should the proceeds of this sale be
treated?
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27 Which items may appear on the debit side of a purchases ledger control account?
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28 A trader always depreciates his motor vehicles using the reducing (diminishing) balance
method. Which accounting principle is he applying?
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30 An invoice for the purchase of goods on credit, $980, was incorrectly recorded in the
purchases journal as $890. Which type of error was made?
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31 Bingwa purchased premises costing $85000 in February 2018. Identical premises to those
owned by Bingwa were sold in April 2019 for $98000. No adjustment was made in Bingwa’s
accounting records in April 2019. Which accounting principle did Bingwa apply?
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32 On 1 February Ahmed purchased goods on credit from Zaffar. He returned these goods on 8
February. How did Zaffar record the transaction of 8 February?
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33 Athena is both a customer and a supplier of Heidi. Athena’s account in Heidi’s sales ledger
showed a debit balance of $340 and her account in Heidi’s purchases ledger showed a credit
balance of $260. A contra between the two accounts was agreed. Which entry would Heidi make
in her sales ledger control account?
TERM TEST 2/CAIE/ACC/IGCSE Y1/ADM/SDE 11 of 14
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34 Amber updated her cash book after receiving her bank statement. The updated cash book
balance was an overdraft of $250. The bank statement did not include cheques not presented,
$96, and amounts not credited, $183. What was the balance shown on the bank statement?
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35 Faraz buys and sells new and used motor vehicles. He purchased a used motor vehicle from
Tahir for $7000 which he paid for by cheque. How would Faraz record this transaction?
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