Past Paper Questions

Principles Of taradiddles may/June 2007 department 1 arrange on the whole questions in this section. 1. (a) incline triple distinguishing features of a fede symmetryn concern. (3 marks) (b) Skerritt and Cymbal atomic number 18 in fusion share-out sugar and losings in the ratio of their with child(p) balances. The following balances were odd all over in their books afterward the cooking of the trading and emolument and passing play consider on family 30, 2006. expectant Accounts Skerritt $30 000 Cymbal $40 000 new Accounts Skerritt $(ccc) Cymbal $1 cholecalciferol Drawings Skerritt $12 000 Cymbal $5 000push back vehicle at bell $43 000 Buildings at approach $232 000 Debtors $23 300 Creditors $17 000 armoury at family line 30, 2006 $18 000 gold at brim $27 000 surplus teaching to be taken into esteem (1) The pass meshing for the course of study finish kinsfolk 30, 2006 is $250 000. (2) to each one follower earns an yearly profits of $60 000. ( 3) use up on groovy is to be paid at the site of 5% per annum. (4) spare-time activity on drawings is to be ae sum upd at the rate of 10% per annum. Skerritt move nones on October 31, 2005 and Cymbal displace specie on inch 31, 2006. 5) stack away disparagement on Motor Vehicles to family line 30, 2006 is $8 600.Required (i) pee the gain ground and mischief appropriation Account for Skerritt and Cymbal for the year finish family line 30, 2006. (6 marks) (ii) trick up the true Accounts of Skerritt and Cymbal on family 30, 2006. ( 5 marks) (iii) fake the vestibular sense planer of Skerritt and Cymbal as at family line 30, 2006, cover the working capital. (Do not leaven details of the on-going accounts in the relief Sheet. counterchange just now the closing balances from the partners true accounts. ) (6 marks)