Mock exam paper B P2 Higher Level

PRE - JUNIOR CERTIFICATE EXAMINATION, 2012

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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:

Melody Ltd is a retail store

(A) Record the following Credit Transactions in the Purchases Day Book and Purchases Returns Day Book of Melody Ltd for the month of January 2012. Post relevant figures from the books to the Ledger Accounts.

04/01/2012 Purchased goods on credit from Savage Ltd Invoice No.24 €14,000 + VAT 14%

10/01/2012 Purchased goods on credit from Butler Ltd Invoice No.86 €35,400 + VAT 14%

13/01/2012 Returned goods to Savage Ltd Credit Note .6 €5,000 + VAT 14%

(15)

(B) Record the following Bank Transactions for the month of January in the Analysed Cash Book of Melody Ltd. Post relevant figures to the Ledger Accounts.

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

Debit (Receipts) Side: Bank Sales VAT Share Capital

Credit (Payments) Side: Bank Purchases VAT Insurance Creditors

01/01/2012 Shareholder invested €120,000 and this was lodged Receipt No. 15

03/01/2012 Cash Sales Lodged €79,800 (€70,000+Vat €9,800)

06/01/2012 Purchased for resale (Cheque No 26) €50,000 + VAT 14%

21/01/2012 Paid insurance (Cheque No 27) €1,600

26/01/2012 Paid Butler Ltd (Cheque No 28) €19,500

29/01/2012 Paid Savage Ltd. (Cheque No 29) In full settlement of his account

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