Accounting (0452) · May/June 2017 · Mark scheme 13

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Cambridge International Examinations
Cambridge International General Certificate of Secondary Education

ACCOUNTING

0452/13

Paper 1

May/June 2017

MARK SCHEME
Maximum Mark: 120

Published

This mark scheme is published as an aid to teachers and candidates, to indicate the requirements of the
examination. It shows the basis on which Examiners were instructed to award marks. It does not indicate the
details of the discussions that took place at an Examiners’ meeting before marking began, which would have
considered the acceptability of alternative answers.
Mark schemes should be read in conjunction with the question paper and the Principal Examiner Report for
Teachers.
Cambridge will not enter into discussions about these mark schemes.
Cambridge is publishing the mark schemes for the May/June 2017 series for most Cambridge IGCSE®,
Cambridge International A and AS Level and Cambridge Pre-U components, and some Cambridge O Level
components.

® IGCSE is a registered trademark.

This document consists of 11 printed pages.
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0452/13

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Question

Answer

Glossary for Question 1
(d)
A
B
C
D

charge for year
accumulated depreciation
straight line
net book value

A
B
C
D

426 000+90 000–40 000–25 000=451 000
426 000+90 000–40 000=476 000
426 000+90 000–40 000+25 000=501 000
426 000+90 000=516 000

A
B
C
D

72 000×1.6=115 200
80 000×1.6=128 000
72 000÷0.4=180 000
80 000÷0.4=200 000

A
B
C
D

(14 000–2000)×0.2=2400
(14 000+3600–2 000)×0.2=3120
(14 000+3600)×0.2=3520
(14 000+3600–2000)×0.25=3900

(f)

(h)

(j)

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Marks

0452/13

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Question

Answer

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Marks

1(a)

A (1)

1

1(b)

C (1)

1

1(c)

B (1)

1

1(d)

B (1)

1

1(e)

D (1)

1

1(f)

B (1)

1

1(g)

D (1)

1

1(h)

A (1)

1

1(i)

C (1)

1

1(j)

B (1)

1

© UCLES 2017

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0452/13

Question
2(a)

Answer

asset
bank loan

liability

equipment

income

expense

4

4

9(1)

insurance

9(1)
9(1)

depreciation charge

2(d)

Marks

An income statement shows incomes and expenses (1) and is prepared for a period of time (1).
A statement of financial position shows assets and liabilities (1) and is prepared at a particular date (1).

2(b)

2(c)

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9(1)
2

Income statement $1500 (1)
Statement of financial position $4500 (1)
accounts of the same type can be kept together
helps to locate errors
allows tasks to be divided between different people
deters fraud
allows checking procedures to be introduced
any one for (1) mark

1

2(e)(i)

Sales ledger – accounts of individual credit customers (1)
Purchases ledger – accounts of individual credit suppliers (1)

2

2(e)(ii)

any suitable example for (1) mark
e.g. sales, purchases, insurance

1

© UCLES 2017

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0452/13

Question

Answer

2(f)

Question

2

$
credit account
5000 (1) sales

$
5000 (1)
2

in the books of Roger
$
5000 (1)

credit account
Pich

$
5000 (1)
2

Invoice (1)
Pich (1)
debit account

$

credit account

bank
4875 (1)
discount allowed 125 (1)
© UCLES 2017

Marks

in the books of Pich

debit account
purchases

3(c)

1

false (1)

Answer

debit account
Roger

3(b)

2

true or false
The recording of financial transactions is called accounting

3(a)(ii)

Marks

cash book
petty cash book
sales journal
sales returns journal
purchases journal
purchases returns journal
general (nominal) journal
any two for (1) mark each

2(g)

3(a)(i)

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Roger

Page 5 of 11

$
5000 (1)

3

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Question

Answer

Marks

3(d)(i)

discount received account (1)

1

3(d)(ii)

income statement

1

3(e)

(1)

2

A credit note (1) is issued by the supplier when goods are returned.
A debit note (1) may be issued by the customer when goods are returned.

3(f)
Date
Details
2016
Dec 1 Amit
2017
Feb 28 Ruth

Pich
Bad debts account
$
Date
Details
2017
Feb 28 Income statement
860 (1)
1100 (1)
1960

12

$
1960

(1)OF

1960

Provision for doubtful debts account
Date
Details
$
Date
Details
2017
2016
Feb 28 Balance c/d
2548 (3)*
Mar 1 Balance b/d
2017
Feb 28 Income statement
2548
2017
Mar 1 Balance b/d

$
2240

(1)

308
2548

(1)OF

2548

(1)OF

* (64 800–1100) (1) × 0.04 (1) = 2548 (1)OF
Date
Details
2017
Feb 28 Balance b/d

Ruth account
Date
Details
2017
1100 (1)
Feb 28 Bad debts
$

+(1) for dates

© UCLES 2017

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$
1100 (1)

0452/13

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Question

Answer

3(g)

Pich
Statement of Financial Position (extract) at 28 February 2017
Current assets
$
Trade receivables
63 700
(1)
Provision for doubtful debts
(2 548) (1)OF
61 152
(1)OF

Question

Answer

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Marks
3

Marks

4(a)

A copy of the customer’s account as it appears in the books of the bank. (1)

1

4(b)

3 and 4 (1)

1

4(c)

$
original balance
2890
correction of error
90
(1)
bank charges
(50)
(1)
dishonoured cheque
(200)
(1)
updated balance
2730 (1)OF
accept alternative presentation

4(d)

4(e)

© UCLES 2017

Yeo
Bank Reconciliation Statement at 30 April 2017
$
Balance in cash book (1)
2730 (1)OF
Add unpresented cheque
400
(1)
3130
Less uncredited deposit
(180)
(1)
Balance on bank statement (1)
2950 (1)OF
accept alternative presentation

4

6

2

$2730 (1)OF
current assets (1)OF
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0452/13

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Question
4(f)

4(g)

Answer

5(b)(i)

5(b)(ii)

© UCLES 2017

Marks
1

insufficient funds in account
no signature on cheque
wrong signature
no date
words and figures do not agree
cheque is out of date
any one for (1) mark
preparing of trial balance (1) OR preparing of control account (1)

Question
5(a)

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Answer
more capital introduced to business
more expertise available
responsibilities are shared e.g. holidays, sickness
risk is shared
losses are shared
any two for (1) mark each
To record the difference between the amounts earned from the partnership and the amounts withdrawn from the
partnership (1)
To show the retained profit of each partner (1)
To make it easier to calculate interest on capital (1)
To reveal excess drawings (1)
[max 1]

1

Marks
2

1

2

Ann owes money to the partnership. (1)
The partnership owes money to Bindu. (1)

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Question

Answer

5(c)

Ann and Bindu
Appropriation Account for the year ended 28 February 2017
$
$
Profit for the year
24 500
Less interest on capital – Ann
3000
(1)
5 500
– Bindu
2500
(1)
Less salary – Ann
4 000 (1)
15 000
Shares of profit – Ann
9000 (1)OF
– Bindu
6000 (1)OF 15 000

5

5(d)

Ann and Bindu
Current accounts
Details

6

Details
Balance b/d
Drawings
Balance c/d

$
Ann
5 000
12 500

17 500
Balance b/d
1 500
* mark for both items

$
Bindu
10 000 (1)*
1 500

Balance b/d
Interest on capital
Salary
Shares of profit
Balance c/d

11 500

3 000
4 000
9 000
1 500
17 500

$
Bindu
3 000 (1)*
2 500 (1)OF*
(1)
6 000 (1)OF*
11 500
1 500 (1)OF*
4

effect
(understated or overstated)

$

gross profit

overstated

$750

(1)

profit for the year

overstated

$750

(1)

share of profit – Ann

overstated

$450

(1)

overstated

$300

(1)

– Bindu

© UCLES 2017

$
Ann

Balance b/d

5(e)

5(f)

Marks

It avoids inventory/current assets/profit being overstated. (1)
Page 9 of 11

1

0452/13

Question
5(g)

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Answer

Marks
1

The loss arising from the damage is recorded in the same year as the damage occurred. (1)

Question

Answer

6(a)

factory
overheads

Marks
distribution
costs

4

9

factory rent
carriage outwards

9(1)

depreciation of office equipment
factory supervisor’s salary

administrative
expenses

9(1)
9(1)

repairs of delivery vehicles

9(1)

6(b)(i)

Cost of raw materials 112 500 (1)+(5000–7500) (1)=110 000 (1)OF

2

6(b)(ii)

Prime cost

2

6(b)(iii)

Cost of production
192 000 OF +(41 800+6000) (1)=239 800 (1)OF
accept alternative formats

© UCLES 2017

110 000 (1)OF +82 000=192 000 (1)OF

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2

0452/13

Question
6(c)

6(d)

6(e)

Answer

Marks

G Limited
Income Statement for the year ended 31 December 2016
$
$
Revenue
550 000
Inventory of finished goods – 1 Jan 2016
51 000
Cost of production
239 800 (1)OF
Purchases of finished goods
95 200
(1)
386 000
Inventory of finished goods – 31 Dec
47 300
(1)*
2016
Cost of sales
338 700
Gross profit
211 300
Distribution costs
61 800
(1)
Administrative expenses
95 100
(1)
173 000
Finance charges
16 100
(1)
Profit for the year
38 300
* mark for both inventory figures

9

(1)

(1)OF

(1)OF
1

It is cheaper to buy than produce (1) OR
Demand is higher than production at full capacity (1)
accept other suitable answers
Savings
old depreciation
repairs
raw materials 110 000 (1)OF×0.04 (1)
Less additional costs
new depreciation
additional interest
Increase in profit

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7

6 000
9 000
4 400
19 400

(1)
(1)

(10 000) (1)
(8 000) (1)
1 400 (1)OF

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