Mock exam paper A P2 Higher Level

PRE - JUNIOR CERTIFICATE EXAMINATION, 2011

________________________

BUSINESS STUDIES – HIGHER LEVEL – PAPER II

(160 marks)

TIME: 2 HOURS

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  • All questions carry equal marks.
  • Attempt any FOUR questions.
  • Marks will be awarded for layout and presentation including, where appropriate, folios and dates.
  • Dates should show the day, month and year.
  • Calculators may be used.

1. This is a Book of First Entry, Ledger and Trial Balance Question

Answer all parts of this question:

WYSE Ltd, an electrical company, has the following balances in its General Journal on 1 January 2010.

GENERAL JOURNAL

Date

Details

F

Dr

Cr

1/1/2011

Buildings

GL1

365,000

Debtors: Early Ltd.

DL

16,000

Bank Overdraft

ACB

5,000

Ordinary Share Capital

GL

376,000

Assets, Liabilities and Share Capital of WYSE Ltd on this date

381,000

381,000

(A) Post the balances in the above General Journal to the relevant ledger accounts

and Analysed Cash Book. (4)

(B) Post the relevant figures from the Sales and Sales Returns Books below to the Ledger Accounts.

SALES BOOK

Date

Details

Invoice No.

F

Net

Vat

Total

5/1/2011

Early Ltd.

1

DL

8000

1680

9680

8/1/2011

Young Ltd.

2

DL

20000

4200

24200

28000

5880

33880

GL

GL

SALES RETURNS BOOK

Date

Details

Credit Note No.

F

Net

Vat

Total

12/1/2011

Young Ltd

20

DL

2000

430

2430

GL

GL

(10)

(C) Record the following Bank Transactions for the month of May in the Analysed Cash Book (ACB) of WYSE Ltd. Post the relevant figures to the Ledger Accounts.

Note: Analyse the Bank Transactions using the following money headings:

Debit (Receipts) Side: Bank Sales VAT Debtors Share Capital

Credit (Payments) Side: Bank Purchases VAT Wages

3/1/2011 Shareholders of WYSE Ltd invested €75,000 and this was lodged

5/1/2011 Cash Sales lodged €36300 (€30000 + VAT €6300)

6/1/2011 Paid wages Cheque No. 1 €4500

8/1/2011 Early Ltd paid his account in full and this was lodged. Receipt No. 10

10/1/2011 Young Ltd paid €8000 and this was lodged. Receipt No. 11

11/1/2011 Purchases for resale Cheque ...

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