Advanced Level ACCOUNTING Paper 2 Structured Questions 9706/02 May/June 2003 1 hour 30 minutes Candidates answer on the Question Paper. No Additional Materials are required. READ THESE INSTRUCTIONS FIRST Write your Centre number‚ candidate number and name on all the work you hand in. Write in dark blue or black pen in the spaces provided on the Question Paper. You may use a soft pencil for rough working. Do not use staples‚ paper clips‚ highlighters‚ glue or correction fluid. Answer all questions
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The Accounting Cycle Accounting Cycle is an accounting process that involve a series of procedures in collection‚ processing‚ and communication of financial information. There are 7 basis steps of accounting cycle which comprise of source documents‚ prima entry‚ ledger‚ draft trial balances & financial statement‚ adjustments‚ adjusted trial balance & financial statement and closing entries. At first source documents‚ are things like invoice‚ credit note‚ debit note‚ cash bill
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Why are accounts important To begin by why accounts are important‚ a person should first know what accounts actually mean. Accounts are financial records of an organization that register all financial transactions‚ and must be kept at its principal office or place of business. The purpose of these records is to enable anyone to appraise the organization’s current financial position with reasonable accuracy. Firms present their annual accounts in two main parts: the balance sheet‚ and the income
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Describe and account for the relationship between earthquakes and volcanic activity The close relationship between earthquakes and volcanic activity is evident from the maps depicting the locations which are prone to both. Volcanism is associated with two of the plate boundary types: divergent and convergent margins‚ so activity is usually found along oceanic ridges where plates are moving apart‚ near rift valleys‚ on subduction zones where the most violent activity takes place and over hot spots
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for assuring a non-discriminatory work environment. Policy making and enforcement‚ supervisor and employee training‚ and zero tolerance initiatives will be discussed. Policy Making The first method is to create policies governing the operation of the employer/office regarding discrimination. Each type of discrimination (race‚ color‚ religion‚ sex‚ and national origin) should be clearly defined and expounded with examples of actions that may be considered discriminatory. It may also be a good
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profit and unappropriated profit. what is the accumulated profit and why do accountants and bookkeepers use different names for the same thing? (6 marks) Accumulated profits is profits that are not paid as dividend but is transfered over to the accounts for the next year. Also can be used to reinvest in the core of the business to help pay off debts or to purchase a capital asset. The reasons why accountants and bookkeepers use different names for the same thing is because bookkeepers are the people
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September 9th Storm poems ( Re-draft ). Compare the ways in which Heaney and Hughes describe their storms. “Storm on the Island” starts in a very dramatic way by setting the scene of the poem on a lonely‚ deserted island. Firstly‚ Seamus Heaney describes the surroundings in a way‚ to make the readers assume that the storm is set on a very bare waste land with a handful of residents on it that preparing for a storm that turns out to be more severe than they expected. Seamus Heaney then
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ethics and regulations 1.3 Types of business 1.4 Characteristics of qualitative accounting information 1.5 Users of accounting information Topic 1 Rosli et. al Topic 2 Norfaiezah et. al 1.5 2. 2.0 ACCOUNTING CONCEPT AND PRACTICE 2.1 Generally accepted accounting principles Accounting assumptions Accounting principles Accounting constraints 2.2 Types of financial statement Statement of Comprehensive Income Statement of Changes in Equity Statement of Financial Position
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Individual Assignment Introduction to Financial Accounting (ACC106) Mega Lawa Trading is a sole proprietorship business owned by Milah Mela. Transactions below are the business activities for the month of December 2013. Date Transaction Effects of Transaction Principles of Double Entry 1 Started a business with a cash at bank for RM 15‚000 and cash in hand for RM 10‚000 3 Purchased machinery on credit from Happy Machine Supplies amounted to RM 90‚000 4 Bought inventories
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Curley Ex RR-10/01/10 The Brief Account of the Devastation of the Indies Bartolomé De Las Casas describes many horrific actions carried out by Spanish Christians against Indians living on the island of The Hispaniola in between the mid-16th and early 17th century. Bartolome De Las Casas was a 16th century Spanish priest‚ made famous for his advocacy of the rights of Native Americans. Las Casas lived from 1484 to July 17th‚ 1556. He is the Author of The Brief Account of the Devastation of the Indies
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