Please write clearly in block capitals.
Centre number Candidate number
Surname
Forename(s)
Candidate signatu re
I declare this is my own work.
A+level
Accounting Exam 1 – End Term Exam
with Correct, Verified Answers
Time allowed: 3 hours
Materials
For this paper you must have: For Examiner’s Use
• a calculator. Section Mark
A
Instructions
• Use black ink or black ball-point pen. B
• Fill in the boxes at the top of this page. C
• Answer all questions.
TOTAL
• You must answer the questions in the spaces provided. Do not write
outside the box around each page or on blank pages.
• If you need extra space for your answer(s), use the lined pages at the end
of this book. Write the question number against your answer(s).
• Do all rough work in this answer book. Cross through any
work you do not want to be marked.
Information
• The marks for each question are shown in brackets.
• The maximum mark for this paper is 120.
EXAM/V/ST/V /E8
, Cash Sale - ✔✔A sale in which cash is received for the total amount of the sale at the time of the transaction
Credit Card Sale - ✔✔A sale in which a credit card is used for the total amount of the sale at the time of the transaction.
Subsidiary Ledger - ✔✔a ledger that is summarized in a single general ledger account
Accounts Payable Ledger - ✔✔A subsidiary ledger containing only accounts for vendors from whom items are purchased
or bought on account.
Accounts Receivable Ledger - ✔✔A subsidiary ledger containing only accounts for charge customers
Controlling Account - ✔✔an account in a general ledger that summarizes all accounts in a subsidiary ledger
Salary - ✔✔the money paid for employee services
Pay Period - ✔✔The period covered by a salary payment
Payroll - ✔✔The total amount earned by all employees for a pay period
Total Earnings - ✔✔the total pay due for a pay period before deductions
Payroll Taxes - ✔✔Taxes based on the payroll of a business
Withholding Allowance - ✔✔a deduction from total earnings for each person legally supported by a taxpayer, including
the employee.
Net Pay - ✔✔the total earnings paid to an employee after payroll taxes and other deductions
Social Security Tax - ✔✔a federal tax paid for old-age, survivors, and disability insurance
Centre number Candidate number
Surname
Forename(s)
Candidate signatu re
I declare this is my own work.
A+level
Accounting Exam 1 – End Term Exam
with Correct, Verified Answers
Time allowed: 3 hours
Materials
For this paper you must have: For Examiner’s Use
• a calculator. Section Mark
A
Instructions
• Use black ink or black ball-point pen. B
• Fill in the boxes at the top of this page. C
• Answer all questions.
TOTAL
• You must answer the questions in the spaces provided. Do not write
outside the box around each page or on blank pages.
• If you need extra space for your answer(s), use the lined pages at the end
of this book. Write the question number against your answer(s).
• Do all rough work in this answer book. Cross through any
work you do not want to be marked.
Information
• The marks for each question are shown in brackets.
• The maximum mark for this paper is 120.
EXAM/V/ST/V /E8
, Cash Sale - ✔✔A sale in which cash is received for the total amount of the sale at the time of the transaction
Credit Card Sale - ✔✔A sale in which a credit card is used for the total amount of the sale at the time of the transaction.
Subsidiary Ledger - ✔✔a ledger that is summarized in a single general ledger account
Accounts Payable Ledger - ✔✔A subsidiary ledger containing only accounts for vendors from whom items are purchased
or bought on account.
Accounts Receivable Ledger - ✔✔A subsidiary ledger containing only accounts for charge customers
Controlling Account - ✔✔an account in a general ledger that summarizes all accounts in a subsidiary ledger
Salary - ✔✔the money paid for employee services
Pay Period - ✔✔The period covered by a salary payment
Payroll - ✔✔The total amount earned by all employees for a pay period
Total Earnings - ✔✔the total pay due for a pay period before deductions
Payroll Taxes - ✔✔Taxes based on the payroll of a business
Withholding Allowance - ✔✔a deduction from total earnings for each person legally supported by a taxpayer, including
the employee.
Net Pay - ✔✔the total earnings paid to an employee after payroll taxes and other deductions
Social Security Tax - ✔✔a federal tax paid for old-age, survivors, and disability insurance
