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

Passage

Ananya, provides the following information about her business.

Information about her businessInformation about her business

At 1 April 2018

At 31 March 2020

$

$

Fixed assets

10000

15000

Current assets

4000

6000

Current liabilities

3000

4000

Question number: 120 (1 of 3 Based on Passage) Show Passage

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One Liner Question▾

Write in Brief

Calculate Ananya’s Return on Assets (Marks 2)

Explanation

Question number: 121 (2 of 3 Based on Passage) Show Passage

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Short Answer Question▾

Write in Short

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 2018Balance Sheet as at 1 April 2018

Capital & Liabilities

$

Assets

$

Explanation

Balance Sheet as at 1 April 2018

Balance Sheet as at 1 April 2018Balance Sheet as at 1 April 2018

Capital & Liabilities

$

Assets

$

Capital

11000

Fixed Assets

10000

Current Assets

4000

Current Liabilities

3000

14000

14000

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 number: 122 (3 of 3 Based on Passage) Show Passage

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Short Answer Question▾

Write in Short

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 2019Balance Sheet as at 31 March 2019

Capital & Liabilities

$

Assets

$

Explanation

Balance Sheet as at 31 March 2019

Balance Sheet as at 31 March 2019Balance Sheet as at 31 March 2019

Capital & Liabilities

$

Assets

$

Capital $11000

Add: Net Profit $6500

$17500

Less: Drawings $2000

15500

Fixed Assets $15000

Less: Dep@10% $1500

13500

Current Liabilities

4000

Current Assets

6000

19500

19500

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