10:21 l 4G Done 7b3f12df8072bc646a4... a Continued Page 1 of 9 Cartagenaards Confers remuneration SECTION A Question 1 (4 marks YOU MUST ANSWER THIS QUESTION The trial balance at 31 August 2021 and additional information to the year then ended for Grace Led are given below. 5% Redeemable prices1920 42.000 Lored 36.000 Accountancy for 3.60 Admiration experience 113940 Alowance for good debt at 1920 notes 800 and bark 7.540 Directors 158.180 Dividende 900 paid 100 Inventor 1920 48.240 Ordinary res 25) 71300 Preference dividends paid in te wil) 2.100 plant and espert Acord duonciation 264.000 2230 Purchases 317900 Recept from sale of our robe 9.000 34970 Rene 37900 Sales como paid 154000 Shares in Lerg pk 45 900 54.600 Trade receive 67500 1.154 720 1,154 720 He plomlarga congs Share Trade bed Additional information. 310821 During the your computer equipment which had con 20.000 December 2017 was sold. To record this the trainee book debied the bank account and opened a recourt to recome other side of the entry No other adjustments we been made respect of this Closing invertory was ved at 089.500 Cord Page 2 of 9 2006AC 10:22 l 4G Done 7b3f12df8072bc646a4... a Page 2 of 9 #) heluded in the administrative per a payment of E1600 services to be in April 2022 M Costssoud be alocated on the basis of their con Costa garrating proper plant and equipment should be apported to the cost of sales, distribution scenes and administratie in the 212 Depreciation is to be charged 10% on the straight it with a 1 year's change in the year of acquisition and more in the year of despot The directors elected to pay no ordinary dividends during the year. Instead, on 5h July 2021 they made a 25 bonuse of shares As at the need to adjustments to be made to record the racion VI The tax expense for the year should be stated as 20% of the pre thx grotte Will None of the long-term capital is due to in the forestie ure. The Manual dend for the preferences be paid and comectly recorded The allowance for doubtlul debts should be adjusted to 1500 at the you and Ai the year end the directors propose to pay a cash didend of 10 the year's profis Required: a) Use the information abow to prepare for Grace Lit, in a format table for publication. The following: . An income time for eyewended to put 2021 expenses classified by function 24 marts Attems of changes in equity for the year anded 31 August 2021 A statement of financial position at 31 August 2001 and 116 marts Any relevant accompanying the 11 mm Continue Page 3 of 9 ACC b) While the trainee bookkeeper is looking through the front statements 10:22 l 4G Done 7b3f12df8072bc646a4... a 4 of 9 A statement of financial position at tst August 2021 and (16 marts Any relevant accompanying notes 11 mars Continue Page 3 of 9 b) While the trainee bookkeeper is looking through the financial statements te moes your treatment of the preference share capital Eclaim REASONS, how you have deal with the preference in preparing the racial statements abow marks) ITOTAL SO MARKS) Card Page 4 of 9 10:22 l 4G Done 7b3f12df8072bc646a4... a using the Indirect method. [TOTAL 25 MARKS Con Page 7 of 9 Questions You are approached by one of the shareholders of Grace Les (See Grace La financial statement prepared in question 1)M Fredrick Patrick, who has someone to the summary financial statements you will prepared Explains Fredrick the purpose of preparing financier 90 words marts Explain brily how each of the statements you a preparado can help Fredrick in his capacity as a soldier of the company (1.80 words mark Equity austments tad to be made inspect of the do debts at 31" of August 2021 bovengono 120 words mata A trading company's rarely ended on Thursday 31st March 2022 but it was not practicable to carry out the stockings 3rd 2022 the store was was found that alue of the mentory in the store on the dates 95.728. During the period of April to and April 2022 fotowing transactions took par 0 Goods received and placed into stock 5.24 Goods returned to suppen a) Sales C22.514 Goods med by customers 1594 The company's morally so good at aromargin 20% Required 1) Explain the one behind the account of inventory According to HS 2. Credit begin for the Bocor (120 words mark 2) Draw art showing theme of the nort31 March 2022 120 word mark 3) Prepare the journal entries to record the inventory at 31st March 2022 140 words) marks 25 mark) Corted Page 3 of 9 10:22 l 4G Done 7b3f12df8072bc646a4... a 6 marks 3) Prepare the jumal tries to record the inventory at 31st March 2022 40 words mark 25 marks) Cand Page Bof 9 MC Question 4 Describe any resource of free for company 120 worde! mara b) Explain 2 difference between die die preference shares words marts c) The directors of higople wish to raise a targe amount of addition capital for expansion and diversification of the business. They currently have in issue one milion 5Op ordinary shares and one million which mature red year Recommend the best source of finance to place the baby comparing and contrasting at least sources of france up to 100 words 115 marts Important notes Marte mari de reserved for discussions showing an appreciation of the different option of capital almalves Failure to day the sources of finance and discuss the various options the content of a pie w limit the marks achiebie Forexample, you focus on sources of finance only the maximum mark you can achines 5. even if you add each of the moved to sources of financing + You shouldumpe, in your answers to avoid repetitiveness. I forexample you present the same argument for each of the financing matted you only receive and for the first sources of finance and one for the other sources of finance where you have repeated the same argument. TOTAL 25 mars! END Page of 9 10:21 l 4G Done 7b3f12df8072bc646a4... a Continued Page 1 of 9 Cartagenaards Confers remuneration SECTION A Question 1 (4 marks YOU MUST ANSWER THIS QUESTION The trial balance at 31 August 2021 and additional information to the year then ended for Grace Led are given below. 5% Redeemable prices1920 42.000 Lored 36.000 Accountancy for 3.60 Admiration experience 113940 Alowance for good debt at 1920 notes 800 and bark 7.540 Directors 158.180 Dividende 900 paid 100 Inventor 1920 48.240 Ordinary res 25) 71300 Preference dividends paid in te wil) 2.100 plant and espert Acord duonciation 264.000 2230 Purchases 317900 Recept from sale of our robe 9.000 34970 Rene 37900 Sales como paid 154000 Shares in Lerg pk 45 900 54.600 Trade receive 67500 1.154 720 1,154 720 He plomlarga congs Share Trade bed Additional information. 310821 During the your computer equipment which had con 20.000 December 2017 was sold. To record this the trainee book debied the bank account and opened a recourt to recome other side of the entry No other adjustments we been made respect of this Closing invertory was ved at 089.500 Cord Page 2 of 9 2006AC 10:22 l 4G Done 7b3f12df8072bc646a4... a Page 2 of 9 #) heluded in the administrative per a payment of E1600 services to be in April 2022 M Costssoud be alocated on the basis of their con Costa garrating proper plant and equipment should be apported to the cost of sales, distribution scenes and administratie in the 212 Depreciation is to be charged 10% on the straight it with a 1 year's change in the year of acquisition and more in the year of despot The directors elected to pay no ordinary dividends during the year. Instead, on 5h July 2021 they made a 25 bonuse of shares As at the need to adjustments to be made to record the racion VI The tax expense for the year should be stated as 20% of the pre thx grotte Will None of the long-term capital is due to in the forestie ure. The Manual dend for the preferences be paid and comectly recorded The allowance for doubtlul debts should be adjusted to 1500 at the you and Ai the year end the directors propose to pay a cash didend of 10 the year's profis Required: a) Use the information abow to prepare for Grace Lit, in a format table for publication. The following: . An income time for eyewended to put 2021 expenses classified by function 24 marts Attems of changes in equity for the year anded 31 August 2021 A statement of financial position at 31 August 2001 and 116 marts Any relevant accompanying the 11 mm Continue Page 3 of 9 ACC b) While the trainee bookkeeper is looking through the front statements 10:22 l 4G Done 7b3f12df8072bc646a4... a 4 of 9 A statement of financial position at tst August 2021 and (16 marts Any relevant accompanying notes 11 mars Continue Page 3 of 9 b) While the trainee bookkeeper is looking through the financial statements te moes your treatment of the preference share capital Eclaim REASONS, how you have deal with the preference in preparing the racial statements abow marks) ITOTAL SO MARKS) Card Page 4 of 9 10:22 l 4G Done 7b3f12df8072bc646a4... a using the Indirect method. [TOTAL 25 MARKS Con Page 7 of 9 Questions You are approached by one of the shareholders of Grace Les (See Grace La financial statement prepared in question 1)M Fredrick Patrick, who has someone to the summary financial statements you will prepared Explains Fredrick the purpose of preparing financier 90 words marts Explain brily how each of the statements you a preparado can help Fredrick in his capacity as a soldier of the company (1.80 words mark Equity austments tad to be made inspect of the do debts at 31" of August 2021 bovengono 120 words mata A trading company's rarely ended on Thursday 31st March 2022 but it was not practicable to carry out the stockings 3rd 2022 the store was was found that alue of the mentory in the store on the dates 95.728. During the period of April to and April 2022 fotowing transactions took par 0 Goods received and placed into stock 5.24 Goods returned to suppen a) Sales C22.514 Goods med by customers 1594 The company's morally so good at aromargin 20% Required 1) Explain the one behind the account of inventory According to HS 2. Credit begin for the Bocor (120 words mark 2) Draw art showing theme of the nort31 March 2022 120 word mark 3) Prepare the journal entries to record the inventory at 31st March 2022 140 words) marks 25 mark) Corted Page 3 of 9 10:22 l 4G Done 7b3f12df8072bc646a4... a 6 marks 3) Prepare the jumal tries to record the inventory at 31st March 2022 40 words mark 25 marks) Cand Page Bof 9 MC Question 4 Describe any resource of free for company 120 worde! mara b) Explain 2 difference between die die preference shares words marts c) The directors of higople wish to raise a targe amount of addition capital for expansion and diversification of the business. They currently have in issue one milion 5Op ordinary shares and one million which mature red year Recommend the best source of finance to place the baby comparing and contrasting at least sources of france up to 100 words 115 marts Important notes Marte mari de reserved for discussions showing an appreciation of the different option of capital almalves Failure to day the sources of finance and discuss the various options the content of a pie w limit the marks achiebie Forexample, you focus on sources of finance only the maximum mark you can achines 5. even if you add each of the moved to sources of financing + You shouldumpe, in your answers to avoid repetitiveness. I forexample you present the same argument for each of the financing matted you only receive and for the first sources of finance and one for the other sources of finance where you have repeated the same argument. TOTAL 25 mars! END Page of 9