9706_w23_qp_22

Cambridge International AS & A Level * 9 0 4 9 2 7 5 2 8 5 * ACCOUNTING 9706/22 Paper 2 Fundamentals of Accounting October/November 2023 1 hour 45 minutes You must answer on the question paper. No additional materials are needed. INSTRUCTIONS ● Answer all questions. ● Use a black or dark blue pen. ● Write your name, centre number and candidate number in the boxes at the top of the page. ● Write your answer to each question in the space provided. ● Do not use an erasable pen or correction fluid. ● Do not write on any bar codes. ● You may use an HB pencil for any rough working. ● You may use a calculator. ● You should present all accounting statements in good style. ● International accounting terms and formats should be used as appropriate. ● You should show your workings. INFORMATION ● The total mark for this paper is 90. ● The number of marks for each question or part question is shown in brackets [ ]. This document has 20 pages. Any blank pages are indicated. DC (RW) 316872/3 © UCLES 2023 [Turn over

Cambridge International AS & A Level * 9 0 4 9 2 7 5 2 8 5 * ACCOUNTING 9706/22 Paper 2 Fundamentals of Accounting October/November 2023 1 hour 45 minutes You must answer on the question paper. No additional materials are needed. INSTRUCTIONS ● Answer all questions. ● Use a black or dark blue pen. ● Write your name, centre number and candidate number in the boxes at the top of the page. ● Write your answer to each question in the space provided. ● Do not use an erasable pen or correction fluid. ● Do not write on any bar codes. ● You may use an HB pencil for any rough working. ● You may use a calculator. ● You should present all accounting statements in good style. ● International accounting terms and formats should be used as appropriate. ● You should show your workings. INFORMATION ● The total mark for this paper is 90. ● The number of marks for each question or part question is shown in brackets [ ]. This document has 20 pages. Any blank pages are indicated. DC (RW) 316872/3 © UCLES 2023 [Turn over

2 1 P Limited sells electronic goods online. The directors provided the following information. At At Balances 31 July 2023 1 August 2022 $ $ 8% debenture (2026) 36 000 – Inventory 43 190 36 800 Other payables: administrative expenses – 960 Other receivables: administrative expenses 160 1 820 Other receivables: distribution costs 1 490 – Trade payables 25 250 29 610 Bank account extract for the year ended 31 July 2023 $ Payments To credit suppliers 122 050 Administrative expenses 66 920 Distribution costs 51 730 Receipts From customers 284 200 The following information is also available. 1 All goods are despatched to customers immediately on receipt of payment. 2 Inventory at 31 July 2023 included damaged items that had cost $3600. One half of these items will be scrapped and have no value. The remaining items will be sold for $900 after repairs costing $420. 3 The 8% debenture (2026) was issued on 1 April 2023. 4 The charge for taxation was estimated to be $10 700. © UCLES 2023 9706/22/O/N/23

2 1 P Limited sells electronic goods online. The directors provided the following information. At At Balances 31 July 2023 1 August 2022 $ $ 8% debenture (2026) 36 000 – Inventory 43 190 36 800 Other payables: administrative expenses – 960 Other receivables: administrative expenses 160 1 820 Other receivables: distribution costs 1 490 – Trade payables 25 250 29 610 Bank account extract for the year ended 31 July 2023 $ Payments To credit suppliers 122 050 Administrative expenses 66 920 Distribution costs 51 730 Receipts From customers 284 200 The following information is also available. 1 All goods are despatched to customers immediately on receipt of payment. 2 Inventory at 31 July 2023 included damaged items that had cost $3600. One half of these items will be scrapped and have no value. The remaining items will be sold for $900 after repairs costing $420. 3 The 8% debenture (2026) was issued on 1 April 2023. 4 The charge for taxation was estimated to be $10 700. © UCLES 2023 9706/22/O/N/23

3 (a) Prepare the statement of profit or loss for the year ended 31 July 2023. Use the space provided to show your workings. P Limited Statement of profit or loss for the year ended 31 July 2023 $ Workings: Cost of sales Administrative expenses Distribution costs [15] [Turn over © UCLES 2023 9706/22/O/N/23

3 (a) Prepare the statement of profit or loss for the year ended 31 July 2023. Use the space provided to show your workings. P Limited Statement of profit or loss for the year ended 31 July 2023 $ Workings: Cost of sales Administrative expenses Distribution costs [15] © UCLES 2023 9706/22/O/N/23 [Turn over