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Igcse Accounting Club Accounts Past Papers

Jul 06, 2018

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  • 8/17/2019 Igcse Accounting Club Accounts Past Papers

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    󰁎󰁯󰁮󰀭󰁰󰁲󰁯󰁦󰁩󰁴 󰁏󰁲󰁧󰁡󰁮󰁩󰁳󰁡󰁴󰁩󰁯󰁮󰁳

    󰀦 󰁃󰁬󰁵󰁢

    󰁁󰁣󰁣󰁯󰁵󰁮󰁴󰁳

    Prepared by D. El-Hoss

    ll questions are the copyright of Cambridge International Examination Board.

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    14

    0452/03/M/J/03

    5   The Cobbydale Sports Club was formed on 1 May 2002.

    The treasurer produced the following information for the year ended 30 April 2003.

    Receipts and Payments Account for the year ended 30 April 2003

    Receipts $ Payments $ Subscriptions 6800 General expenses 1430 Sale of tickets for open day 3250 Insurance 670 Loan from a member 1 000 Purchase of equipment 3 500

    Expenses of open day 1950 Rent of premises 2420 Balance 30 April 2003 c/d 1080

    ––––– ––––– 11050 11050 ––––– –––––

    Balance 1 May 2003 b/d 1080

    Additional notes –

    1. At 30 April 2003 $

    Subscriptions due from members amounted to 300 Rent due amounted to 220

    2. The equipment is expected to have a useful life of 6 years after which time its scrap value is expected to be $200. Depreciation is to be provided using the straight line (equal instalment) method. A full year’s depreciation is charged in the year of purchase.

    (a)   Prepare the Income and Expenditure Account of the Cobbydale Sports Club for the year ended 30 April 2003.

    For 

    Examiner’s 

    Use 

    Prepared by D. El-Hoss

    ll questions are the copyright of Cambridge International Examination Board.

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    0452/03/M/J/03

    (ii)   Select one of the items appearing in the Income and Expenditure Account which does not appear in the Receipts and Payments Account and explain why it does not appear.

    Item ...........................................................

    Explanation................................................................................................................

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    (c)   Prepare the Balance Sheet of the Cobbydale Sports Club as at 30 April 2003.

    Cobbydale Sports Club

    Balance Sheet as at 30 April 2003

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    For 

    Examiner’s 

    Use 

    Prepared by D. El-Hoss

    ll questions are the copyright of Cambridge International Examination Board.

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    11

    0452/03/O/N/03 [Turn over

    4 (a)   Explain the term ‘Accumulated Fund’ in connection with the accounts of a non-trading organisation such as a club.

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    (b)   The following balances appeared in the books of the Green Jackets Sports Club on 30 September 2002.

    $ Clubhouse 25000 Equipment 5400 Subscriptions prepaid by members 1000 Refreshments stock 1020 Creditors for refreshments stock 850

    Cash 280 Bank overdraft 2990 Insurance prepaid 190

    Calculate the Accumulated Fund of the Green Jackets Sports Club as at 30 September 2002. Show your workings.

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    For 

    Examiner’s 

    Use 

    Prepared by D. El-Hoss

    ll questions are the copyright of Cambridge International Examination Board.

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    12

    0452/03/O/N/03

    (c)   On 1 October 2002 the Green Jackets Sports Club had prepaid insurance amounting to $190.

    On 1 December 2002 the Club paid $1200 by cheque for 1 year’s insurance to 30 November 2003.

    Prepare the Insurance account as it would appear in the ledger of the Green JacketsSports Club for the year ended 30 September 2003. Show clearly the amount transferred to the Income and Expenditure Account. Bring down the balance on 1 October 2003.

    Insurance account

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