SAMPLE - OCR

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Section C The new financial software package, ‘Integrator’ has been installed and Sabrina has been running it in parallel with the manual accounting system for one month to check that it is operating correctly. You are employed on a temporary contract to assist her with this work. You are responsible for the manual book-keeping processes whilst Sabrina concentrated on the data input on the computer. It is now the time to produce a set of interim accounts on both systems to check that the results are the same. 9. Sabrina has asked you to complete the un-shaded boxes in the following hand written trial balance that provides all the information you will need to complete the interim accounts using the manual system. [2] Trial Balance as at 30 June 2009 £ Dr £ Cr Turnover (credit sales) 90395 Stock at 01 July 2008 4327 Credit purchases 11369 Cash purchases 1684 Operating expenses 36926 Interest payable 580 Tax on profit 14300 Dividends payable 1060 Buildings Equipment 57823 Debtors due within one year 3690 Cash at bank and cash in hand 54418 Creditors falling due within one year 946 Short term loans 15000 Creditors falling due after more than one year 46956 Share capital 150000 Reserves 6700 Closing stock was valued at £5251. <strong>OCR</strong> Level 3 Principal Learning in Business, Administration and Finance, Unit F283 Finance and accounting in business (sample)
10. Use information from the trial balance in question 9 to complete the un-shaded boxes in the following profit and loss account for the manual accounting system ............................ [6] Profit and Loss Account for the year ended 30 June 2009 £ £ Turnover (credit sales) 90395 Opening stock 4327 Purchases (credit and cash) Closing stock Cost of goods sold Gross profit (loss) Operating expenses 36926 Profit (loss) before interest and taxation Net interest receivable (payable) Profit (loss) on ordinary activities before taxation Tax on profit on ordinary activities Profit (loss) on ordinary activities after taxation Dividends payable Retained profit 11. Use information from the trial balance in question 9 and the profit and loss account in question 10 to complete the un-shaded boxes in the following balance sheet for the manual accounting system. ................................................................................................ [9] Balance Sheet as at 30 June 2009 £ £ Fixed Assets Buildings Equipment 57823 Total Fixed Assts Current Assets Stock 5251 Debtors due within one year 3690 Cash at bank and cash in hand 54418 Total Current Assets Current Liabilities Creditors falling due within one year Short term loans Total Current Liabilities Net Current Assets (Liabilities) Total Assets less Current Liabilities Creditors falling due in more than one year Net Assets Capital and Reserves Share capital Reserves Profit and Loss Account Total Capital Employed [Total for section C: 17] <strong>OCR</strong> Level 3 Principal Learning in Business, Administration and Finance, Unit F283 Finance and accounting in business (sample)
Page 1 and 2: OCR Level 3 Principal Learning in B
Page 3 and 4: o fulfilling legal requirements: ..
Page 5 and 6: Section B In Sabrina’s previous j
Page 7: ...................................
Page 11 and 12: 12. Using the table of formulae (Ap
Page 13: Profitability Ratios Liquidity Rati

SAMPLE - OCR

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