Humanities Department

American Division High School

Quarter 2 Academic Year: 2023/2024
Accounting Exam Form A.
Quarter 2 Final Revision Sheet
Accounting

1) Use the following information to prepare a balance sheet for ABC

company at 31 Dec,2021: (10 marks )

- Equipment 60000
- Motor Vehicles 80000
- Machinery 107000
- Inventory 5000
- Trade Receivable 7400
- Cash 3600
- Opening Capital 50000
- Profit for the year 40000
-Drawings 5000
- Bank Loan 170000
- Trade Payable 3000
- Bank overdraft 5000

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Thebes ElMaadi International School Humanities Department
American Division High School
Quarter 2 Academic Year: 2023/2024
Accounting Exam Form A.

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Thebes ElMaadi International School Humanities Department
American Division High School
Quarter 2 Academic Year: 2023/2024
Accounting Exam Form A.

Grade 12: Accounting

Model A

2 )State the two accounts that would be affected from business’

transaction and state each would increase or decrease

-June 5: Ahmed transferred 100000 from his own money to the

business’s bank account.

- June 8: Bought Motor Vans 50000 on credit from Toyota Motors.

- June 12: Sold Machinery 30000 paid in cash to Amira.

- June 15: Bought new Office Equipment 40000 paid by cheque from
Tawara Store.

- June 25: Sold some of the Office Equipment 5000 on credit to Marwa.

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Thebes ElMaadi International School Humanities Department
American Division High School
Quarter 2 Academic Year: 2023/2024
Accounting Exam Form A.

3) Write the accounting equation and define its components:

( 5 marks )
……………………………………………………………………………………………………………
……………………………………………………………………………………………………………
……………………………………………………………………………………………………………
……………………………………………………………………………………………………………
……………………………………………………………………………………………………………
……………………………………………………………………………………………………………
……………………………………………………………………………………………………………
…………………………………………………………………………………………………………..
4) Calculate the following: ( 5 marks )
a. Calculate Owner’s Equity
IF ASSETS = USD 40,000 and Liabilities = 15,000
……………………………………………………………………………………………………………
……………………………………………………………………………………………………………
……………………………………………………………………………………………………………
b. Calculate ASSETS
if Owner’s Equity = USD 15,000 and Liabilities = 20,000
…………………………………………………………………………………………
…………………………………………………………………………………………
…………………………………………………………………………………………

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Thebes ElMaadi International School Humanities Department
American Division High School
Quarter 2 Academic Year: 2023/2024
Accounting Exam Form A.

4) put a tick in the right column

Capital Expenditure Revenue Expenditure

Purchase of car

Purchase of
Factory

Payment of wage

Discount
Allowed

Building
extension for
factory