IGCSE Accounting Paper-2: Specimen Questions with Answers 120 - 122 of 189

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Passage

Ananya, provides the following information about her business.

Information About Her Business
At 1 April 2018At 31 March 2020
Dollar $Dollar $
Fixed assets1000015000
Current assets40006000
Current liabilities30004000

Question 120 (1 of 3 Based on Passage)

Edit

Write in Brief

One Liner▾

Calculate Ananya՚s Return on Assets (Marks 2)

Explanation

Question 121 (2 of 3 Based on Passage)

Write in Short

Short Answer▾

Prepare a Balance Sheet for Ananya as at 1 April 2018. (Marks 4)

Balance Sheet as at 1 April 2018

Balance Sheet as at 1 April 2018
Capital & LiabilitiesDollar $AssetsDollar $

Explanation

Balance Sheet as at 1 April 2018

Balance Sheet as at 1 April 2018
Capital & LiabilitiesDollar $AssetsDollar $
Capital11000Fixed Assets10000
Current Assets4000
Current Liabilities3000
1400014000

The following additional information is also provided for the year ended 31 March 2019.

(1) Ananya՚s drawings for the year ended 31 March 2019 were $ 2000.

(2) Fixed assets at 31 March 2019 are to be depreciated by 10 % .

Question 122 (3 of 3 Based on Passage)

Write in Short

Short Answer▾

Prepare a Balance Sheet for Ananya as at 31 March 2019, showing her profit or loss for the year ended on that date. (Marks 10)

Balance Sheet as at 31 March 2019

Balance Sheet as at 31 March 2019
Capital & LiabilitiesDollar $AssetsDollar $

Explanation

Balance Sheet as at 31 March 2019

Balance Sheet as at 31 March 2019
Capital & LiabilitiesDollar $AssetsDollar $
Capital $ 11000

Add: Net Profit $ 6500

$ 17500

Less: Drawings $ 2000

15500Fixed Assets $ 15000

Less: Dep@10 % $ 1500

13500
Current Liabilities4000Current Assets6000
1950019500

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