Please write clearly in block capitals.
Centre number Candidate number
Surname
Forename(s)
Candidate signat ure
I declare this is my own work.
A-level
ACCOUNTING
Paper 2 Accounting for Analysis and Decision-Making
Tuesday 2 June 2020 Morning Time allowed: 3 hours
Materials
For Examiner’s Use
For this paper you must have:
a calculator. Question 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.
IB/G/Jun20/E12 7127/2
, 2
Do not write
outside the
Section A box
Answer ,all ,questions ,in ,this ,section.
Only ,one ,answer ,per ,question ,is ,allowed.
For ,each ,question ,completely ,fill ,in ,the ,circle ,alongside ,the ,appropriate ,answer.
CORRECT ,METHOD WRONG ,METHODS
If ,you ,want ,to ,change ,your ,answer ,you ,must ,cross ,out ,your ,original ,answer ,as ,shown.
If ,you ,wish ,to ,return ,to ,an ,answer ,previously ,crossed ,out, ,ring ,the ,answer ,you ,now ,wish ,to
,select ,as ,shown.
0 1 Which ,transaction ,has ,a ,cheque ,counterfoil ,as ,the ,source ,document?
[1 ,mark]
A Cheque ,deposited ,in ,a ,business ,bank ,account
B Cheque ,paid ,to ,a ,supplier
C Cheque ,returned ,due ,to ,being ,out ,of ,date
D Dishonoured ,cheque ,from ,a ,customer
0 2 J ,Jones ,received ,a ,payment ,from ,D ,Smith, ,whose ,debt ,had ,previously ,been ,written ,off ,as
,irrecoverable.
What ,is ,the ,correct ,double ,entry ,to ,record ,this ,transaction?
[1 ,mark]
Debit Credit
A Bank Irrecoverable debt recovered
, Bank D Smith
B
Irrecoverable debt recovered Bank
,
D Smith Bank
C
,
D
IB/G/Jun20/7127/2
, 3
Do not write
outside the
0 3 What ,is ,the ,correct ,formula ,to ,calculate ,mark-up? box
[1 ,mark]
A Gross ,profit × ,100
Cost ,of ,sales
Gross ,profit
B × ,100
Revenue
Profit ,from ,operations
C × ,100
Cost ,of ,sales
Profit ,from ,operations
D Revenue × ,100
0 4 Which ,are ,all ,credit ,entries ,in ,the ,cost ,of ,sales ,section ,of ,an ,income ,statement?
[1 ,mark]
A Carriage ,inwards, ,closing ,inventory ,and ,purchases
B Carriage ,inwards, ,opening ,inventory ,and ,purchases
C Closing ,inventory, ,goods ,for ,own ,use ,and ,returns ,outwards
D Goods ,for ,own ,use, ,opening ,inventory ,and ,returns ,outwards
0 5 Fred ,is ,a ,sole ,trader ,and ,is ,converting ,his ,business ,into ,a ,private ,limited
,company. ,He ,will ,be ,the ,only ,shareholder ,of ,the ,company.
Which ,of ,the ,following ,would ,be ,a ,consequence ,of ,this ,change ,to ,ownership ,status?
[1 ,mark]
A Loses ,limited ,liability
B Ownership ,is ,diluted
C Profits ,are ,subject ,to ,corporation ,tax
D Receives ,more ,capital
Turn ,over ,►
IB/G/Jun20/7127/2
, 4
Do not write
outside the
0 6 Donovan ,Ltd ,is ,planning ,to ,expand ,and ,will ,require ,additional ,finance. , Its ,statement ,of box
,financial ,position ,includes ,non-current ,liabilities ,of ,£750 ,000 ,and ,equity ,of ,£1 ,300 ,000.
Which ,method ,of ,funding ,will ,decrease ,the ,capital ,gearing ,ratio?
[1 ,mark]
A Debenture
B Long-term ,bank ,loan
C Mortgage
D Ordinary ,shares
0 7 Eloc ,runs ,a ,sweet ,shop. , He ,has ,taken ,several ,boxes ,of ,chocolates ,as ,gifts ,for ,friends.
What ,are ,the ,ledger ,account ,entries ,to ,record ,these ,transactions?
[1 ,mark]
Debit Credit
A Closing inventory Drawings
, Drawings Closing inventory
B
Drawings Purchases
,
Purchases Drawings
C
,
D
0 8 A ,business ,paid ,£18 ,250 ,for ,wages ,and ,salaries ,during ,the ,year ,ending ,31 ,March
,2020. ,Wages ,and ,salaries ,owing ,at ,1 ,April ,2019 ,were ,£2 ,190 ,and ,owing ,at ,31 ,March
,2020 ,were
£2 ,740.
What ,is ,the ,amount ,to ,be ,included ,for ,the ,wages ,and ,salaries ,expense ,in ,the ,income
,statement ,for ,the ,year ,ending ,31 ,March ,2020?
[1 ,mark]
A £13 ,320
B £17 ,700
C £18 ,800
D £23 ,180
IB/G/Jun20/7127/2
Centre number Candidate number
Surname
Forename(s)
Candidate signat ure
I declare this is my own work.
A-level
ACCOUNTING
Paper 2 Accounting for Analysis and Decision-Making
Tuesday 2 June 2020 Morning Time allowed: 3 hours
Materials
For Examiner’s Use
For this paper you must have:
a calculator. Question 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.
IB/G/Jun20/E12 7127/2
, 2
Do not write
outside the
Section A box
Answer ,all ,questions ,in ,this ,section.
Only ,one ,answer ,per ,question ,is ,allowed.
For ,each ,question ,completely ,fill ,in ,the ,circle ,alongside ,the ,appropriate ,answer.
CORRECT ,METHOD WRONG ,METHODS
If ,you ,want ,to ,change ,your ,answer ,you ,must ,cross ,out ,your ,original ,answer ,as ,shown.
If ,you ,wish ,to ,return ,to ,an ,answer ,previously ,crossed ,out, ,ring ,the ,answer ,you ,now ,wish ,to
,select ,as ,shown.
0 1 Which ,transaction ,has ,a ,cheque ,counterfoil ,as ,the ,source ,document?
[1 ,mark]
A Cheque ,deposited ,in ,a ,business ,bank ,account
B Cheque ,paid ,to ,a ,supplier
C Cheque ,returned ,due ,to ,being ,out ,of ,date
D Dishonoured ,cheque ,from ,a ,customer
0 2 J ,Jones ,received ,a ,payment ,from ,D ,Smith, ,whose ,debt ,had ,previously ,been ,written ,off ,as
,irrecoverable.
What ,is ,the ,correct ,double ,entry ,to ,record ,this ,transaction?
[1 ,mark]
Debit Credit
A Bank Irrecoverable debt recovered
, Bank D Smith
B
Irrecoverable debt recovered Bank
,
D Smith Bank
C
,
D
IB/G/Jun20/7127/2
, 3
Do not write
outside the
0 3 What ,is ,the ,correct ,formula ,to ,calculate ,mark-up? box
[1 ,mark]
A Gross ,profit × ,100
Cost ,of ,sales
Gross ,profit
B × ,100
Revenue
Profit ,from ,operations
C × ,100
Cost ,of ,sales
Profit ,from ,operations
D Revenue × ,100
0 4 Which ,are ,all ,credit ,entries ,in ,the ,cost ,of ,sales ,section ,of ,an ,income ,statement?
[1 ,mark]
A Carriage ,inwards, ,closing ,inventory ,and ,purchases
B Carriage ,inwards, ,opening ,inventory ,and ,purchases
C Closing ,inventory, ,goods ,for ,own ,use ,and ,returns ,outwards
D Goods ,for ,own ,use, ,opening ,inventory ,and ,returns ,outwards
0 5 Fred ,is ,a ,sole ,trader ,and ,is ,converting ,his ,business ,into ,a ,private ,limited
,company. ,He ,will ,be ,the ,only ,shareholder ,of ,the ,company.
Which ,of ,the ,following ,would ,be ,a ,consequence ,of ,this ,change ,to ,ownership ,status?
[1 ,mark]
A Loses ,limited ,liability
B Ownership ,is ,diluted
C Profits ,are ,subject ,to ,corporation ,tax
D Receives ,more ,capital
Turn ,over ,►
IB/G/Jun20/7127/2
, 4
Do not write
outside the
0 6 Donovan ,Ltd ,is ,planning ,to ,expand ,and ,will ,require ,additional ,finance. , Its ,statement ,of box
,financial ,position ,includes ,non-current ,liabilities ,of ,£750 ,000 ,and ,equity ,of ,£1 ,300 ,000.
Which ,method ,of ,funding ,will ,decrease ,the ,capital ,gearing ,ratio?
[1 ,mark]
A Debenture
B Long-term ,bank ,loan
C Mortgage
D Ordinary ,shares
0 7 Eloc ,runs ,a ,sweet ,shop. , He ,has ,taken ,several ,boxes ,of ,chocolates ,as ,gifts ,for ,friends.
What ,are ,the ,ledger ,account ,entries ,to ,record ,these ,transactions?
[1 ,mark]
Debit Credit
A Closing inventory Drawings
, Drawings Closing inventory
B
Drawings Purchases
,
Purchases Drawings
C
,
D
0 8 A ,business ,paid ,£18 ,250 ,for ,wages ,and ,salaries ,during ,the ,year ,ending ,31 ,March
,2020. ,Wages ,and ,salaries ,owing ,at ,1 ,April ,2019 ,were ,£2 ,190 ,and ,owing ,at ,31 ,March
,2020 ,were
£2 ,740.
What ,is ,the ,amount ,to ,be ,included ,for ,the ,wages ,and ,salaries ,expense ,in ,the ,income
,statement ,for ,the ,year ,ending ,31 ,March ,2020?
[1 ,mark]
A £13 ,320
B £17 ,700
C £18 ,800
D £23 ,180
IB/G/Jun20/7127/2
