Mock exam paper D P2 Higher Level

PRE - JUNIOR CERTIFICATE EXAMINATION, 2014

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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.

Q1.

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

Answer all parts of this question:

Custom Cutz Ltd, a sporting apparel manufacture, had the following balances in its General Journal on 01 January 2014:

General Journal

Date

Details

F

Dr

Cr

01/01/14

Premises

GL

195,000

Creditor : Hewitt Ltd

DL

51,250

Bank

ACB

3,750

Ordinary Share Capital

GL

140,000

Assets & Liabilities & Share Capital of Custom Cutz Ltd on this date:

195,000

195,000

  1. Post the above balances in the General Journal to the relevant ledger accounts and Analysed Cash Book.

(4)

  1. Record the following Credit Transactions in the Sales & Purchases Day Book of Custom Cutz Ltd for the month of January 2013. Post relevant figures from the books to the Ledger Accounts.

07/01/2014

Purchased goods on credit from Hewitt Ltd

Invoice No.31

€21,000 + VAT 23%

16/01/2014

Sold goods on credit to Brown Ltd

Invoice No.77

€31,000 + VAT 23%

21/01/2014

Sold goods on credit to Barker Ltd

Invoice No. 78

€15,500 + VAT 23%

(11)

  1. Record the following Bank Transactions for the month of January in the Analysed Cash Book of Custom Cutz Ltd. Post relevant figures to the Ledger Accounts.

Debit (Receipts) Side:

Bank

Sales

VAT

Share Capital

Credit (Payments) Side:

Bank

Purchases

VAT

Insurance

Creditors

N

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

05/01/2014

Shareholder investment -lodged

Receipt No. 15

€75,000

07/01/2014

Cash Sales Lodged

€99,000 (€76,115 + Vat €22,885)

11/01/2014

Purchased for resale

(Cheque No 11) ...

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