Assessment Schedule 2013 Accounting: Prepare financial information for an entity that operates accounting subsystems (91176)

Transcription

1 NCEA Level 2 Accounting (91176) 2013 Page 1 of 7 Assessment Schedule 2013 Accounting: Prepare financial information for an entity that operates accounting subsystems (91176) Evidence Part A Question One Revenue Martha s Vehicle Repairs Income for the year ended 31 March 2013 $ $ $ Repair income S Other Income Interest received V Less Expenses Workshop and repair expenses Mechanics wages P Electricity S# Depreciation workshop equipment S Workshop expenses P Workshop rent P Administrative expenses Accountancy fees P Bad debts P Electricity Depreciation office equipment S Office insurance V Doubtful debts C Finance costs Interest on loan C Total expenses Profit (loss) for the year P/V/S/C correct stem correct figure and correctly classified S# electricity correctly split and classified in both distribution and administrative Award V if split numbers add to (including transposition) F foreign item

2 NCEA Level 2 Accounting (91176) 2013 Page 2 of 7 (a) 31 / 03 / 13 Accounts Receivable GST 180 Repair income S 31 / 03 / 13 Income summary 294 Doubtful debts 294 C# (b) Capital 1 / 04 / 12 Balance Cr 31 / 03 / 13 Income summary Cr C# Drawings Cr V General Journal and General Ledger V/S/C Journals correct stem from trial balance where relevant and correct figure (must be a journal entry), and General ledger appropriate stem and correct figure appropriately balanced C# follow through from Income N1 N2 A3 A4 M5 M6 E7 E8 6 correctly classified items Max 5 F 8 correctly classified items Max 4 F 7 grades Or 2 adjusted * grades plus 6 other grades / correctly classified items N0/ = No response; no relevant evidence. *Adjusted v/s/c from schedule 8 grades 11 grades including 1 grade from 13 grades including 1 grade from 15 grades must 17 grades must Journals correctly classified involves a journal entry with correct stems and correct debit/credit with wrong figure(s) (debit = credit still required) Ledgers correctly classified involves an INCORRECT STEM, a correct number in the correct column treated correctly (including balancing).

3 NCEA Level 2 Accounting (91176) 2013 Page 3 of 7 Question Two Part A (a) Opening accounts payable Plus invoices from suppliers Less discounts for suppliers Less closing accounts payable Cash paid to suppliers: $ C C (b) Flash Furniture Cash Flow (extract) for the year ended 31 March 2013 $ $ Cash payments (Cash paid to) suppliers Vf (Business) expenses V Wages V Drawings S Delivery van V Total cash payments Cash Flow C C correct figure; C if 3 of 4 items correctly treated in working or with working V/S stem clearly identifies the receipt item or payment item and correct figure f allow for follow-through from (a) F foreign item drawings $ / invoices received / depreciation

4 NCEA Level 2 Accounting (91176) 2013 Page 4 of 7 Property, Plant and Equipment Note (extract) Delivery Vans Shop Equipment $ $ For the year ended 31 March 2013 Opening carrying amount S Plus additions S Disposals S Depreciation V C Closing carrying amount As at 31 March 2013 Cost V* Accumulated depreciation V# Closing carrying amount C# V/S/C correct stem (where relevant) correct figure correctly treated V# allow follow through based on depreciation figure V* correct stem and both correct figures correctly treated C# closing carrying amount for year ended and as at must be equal with a complete PPE note N1 N2 A3 A4 M5 M6 E7 E8 3 grades 4 grades 5 grades 7 grades 9 grades 11 grades 13 grades 15 grades N0/ = No response; no relevant evidence.

5 NCEA Level 2 Accounting (91176) 2013 Page 5 of 7 Question Three Part A Best Fashion of Financial Position (extract) as at 31 March 2013 $ $ Current liabilities Accounts payable S Bank P Loan S Accrued expense V Income in advance C Total current liabilities Non-current liabilities Mortgage P Total non-current liabilities Total liabilities Net assets Equity (Opening) capital P Profit for year C# Drawings P Closing capital P/V/S/C correct stem, correct figure, and correctly classified C# for a profit figure that achieves a closing capital of 205,000 F foreign item

6 NCEA Level 2 Accounting (91176) 2013 Page 6 of 7 (a) 31 / 03 / 13 Wages Accrued expense V F 31 / 03 / 13 Prepayment 600 Insurance 600 C 31 / 03 / 13 Cost of goods sold Inventory C (b) Depreciation Office Equipment 31 / 03 / 13 Accumulated depreciation office equipment Dr V Income summary S Office Equipment 1 / 04 / 12 Balance Dr V 31 / 03 / 13 Accounts Payable Dr S# General Journal and General Ledger V F Figure from financial position V/S/C Journals correct stem from trial balance where relevant and correct figure (must be a journal entry), and General ledger appropriate stem and correct figure appropriately balanced S# appropriate stem, correct figure appropriately balanced and ledger not closed N1 N2 A3 A4 M5 M6 E7 E8 4 correctly classified items 5 correctly classified items 7 grades Or 2 adjusted grades plus 5 other grades / correctly classified* 8 grades Or 3 adjusted grades plus 5 other grades / correctly classified* 10 grades including 2 grades from 11 grades including 2 grades from 14 grades 16 grades N0/ = No response; no relevant evidence. *Journals and ledgers correctly classified as per question one.

7 NCEA Level 2 Accounting (91176) 2013 Page 7 of 7 Judgement Not Achieved Achievement Achievement with Merit Achievement with Excellence Score range