Index

Number:

MINISTRY OF EDUCATION, HERITAGE & ARTS

FIJI YEAR 12 CERTIFICATE EXAMINATION 2019

ACCOUNTING

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Mark
Gained:

COPYRIGHT: MEHA, FIJI, 2019.

 2.

QUESTION 1 PERSONAL FINANCE [10 marks]

PART A PERSONAL FINANCIAL RECORD KEEPING [4 marks]

1 A B C D
(1 mark)

2. Online banking
_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________
(1 mark)

3. One advantage

_____________________________________________________________________________

_____________________________________________________________________________
(1 mark)

4. _____________________________________________________________________________

_____________________________________________________________________________
(1 mark)

PART B PERSONAL INCOME TAX [2 marks]

1. _____________________________________________________________________________

_____________________________________________________________________________
(1 mark)

2. Capital gains tax

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

$________________

(1 mark)

© MEHA, FY12CE 2019: ACCOUNTING.

 3.

PART C STATEMENT OF AFFAIRS [4 marks]

Statement of Affairs for Bhavesh as at 31st August 2019

$ $

(4 marks)

10

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© MEHA, FY12CE 2019: ACCOUNTING.

 4.

QUESTION 2 NATURE OF ACCOUNTING [5 marks]

PART A NATURE AND ENVIRONMENT OF ACCOUNTING [2 marks]

1 A B C D
(1 mark)

2. _________________________________________________________________ (1 mark)

PART B CONCEPTUAL BASIS OF ACCOUNTING [3 marks]

1. Accounting concept - _________________________________________ (1 mark)

2. (i) Verifiability

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

(1 mark)
(ii) Timeliness

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

(1 mark)

© MEHA, FY12CE 2019: ACCOUNTING.

 5.

QUESTION 3 FINANCIAL ACCOUNTING AND [23 marks]

THE ACCOUNTING PROCESS

PART A VALUE ADDED TAX AND SOURCE DOCUMENTS [10 marks]

1 A B C D
(1 mark)

2.
Transactions Source Document
i. Sold goods to Mr. Kaykay on credit $300.
ii. Wrote off Ms. Lilly’s account as bad debts $100.
iii. Purchased goods on account from A.B. Suppliers $250.
iv. Cash sales $80.
v. Paid rent $200.
vi. Owner withdrew $100 from the business.
(3 marks)

3. _______________________________________________________________________

_______________________________________________________________________

(1 mark)

4. (i) _______________________________________________________________________

_______________________________________________________________________
(1 mark)

(ii) ___________________________________________________________ (1 mark)

(iii) TIN - ______________________________________________________ (1 mark)

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© MEHA, FY12CE 2019: ACCOUNTING.
 6.

(iv)

(1)

(2)

(2 marks)

PART B JOURNALS (7 marks)

1.
Cash Receipts Journal

Discount Detail Bank Consultancy Accounts Other

Date Particulars Allowed Fees Receivables Receipts
$ $ $ $ $ $

(5 marks)

2. _____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________
(2 marks)

© MEHA, FY12CE 2019: ACCOUNTING.

 7.

PART C LEDGER ACCOUNTS [6 marks]

1 A B C D
(1 mark)

2.
(i) Food Suppliers Account
Date Particulars $ Date Particulars $

(2 marks)

(ii) Loan Account

Date Particulars $ Date Particulars $

(1 mark)

(iii) StyleWorks Company Account

Date Particulars $ Date Particulars $

(1 mark)

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© MEHA, FY12CE 2019: ACCOUNTING.
 8.

(iv) Purchases Account

Date Particulars $ Date Particulars $

(1 mark)

23

QUESTION 4 ACCOUNTING REPORTS [20 marks]

PART A FINAL ACCOUNTS [11 marks]

1 A B C D
(1 mark)

2. Two limitations

(i)____________________________________________________________________________

____________________________________________________________________________

(ii)___________________________________________________________________________

____________________________________________________________________________
(2 marks)

© MEHA, FY12CE 2019: ACCOUNTING.

 9.

3.
Vuki’s MiniMart
Statement of Financial Position as at 30 th June 2019
Current Assets $ $ $

Add Non-Current Assets

Investments

Fixed Assets

Intangible Assets

Less Liabilities
Current Liabilities

Long Term Liabilities

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© MEHA, FY12CE 2019: ACCOUNTING.
 10.

Proprietorship $ $ $

(8 marks)

PART B ACCOUNTING FOR CLUBS AND SOCIETIES [9 marks]

1 A B C D
(1 mark)

2. (i) Secretary
___________________________________________________________________________

___________________________________________________________________________
(1 mark)

(ii) Treasurer
___________________________________________________________________________

___________________________________________________________________________
(1 mark)

3.
(i)

(1 mark)

© MEHA, FY12CE 2019: ACCOUNTING.

 11.

(ii) Refreshment Trading Statement of Spark Social Club

for the year ended 30 th September, 2019
$ $

(5 marks)

20

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© MEHA, FY12CE 2019: ACCOUNTING.

 12.

QUESTION 5 ANALYSIS AND INTERPRETATION [20 marks]

OF PERIODIC FINANCIAL STATEMENTS

PART A ANALYSING ACCOUNTING REPORTS

1 A B C D

2 A B C D
(2 marks)

3.

Ratios/percentages Formula Working Answer (two

decimal places)
(i) Net Profit
percentage
(2019)

_______ %

(ii) Financial
Expenses
percentage
(2018)

_______ %

(iii) Debt to Equity

ratio
(2018)

_______ : 1

© MEHA, FY12CE 2019: ACCOUNTING.

 13.

Ratios/percentages Formula Working Answer (two

decimal places)
(iv) Return on
Owner’s Equity
percentage
(2019)

_______ %

(v) Liquid Capital

ratio
(2019)

_______ : 1

(vi) Working Capital

ratio
(2018)

_______ : 1
(vii) Inventory
Turnover in days
(2018)

_______ days
(viii) Accounts
Receivable
Turnover in
months
(2019)

______ months

(12 marks)

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© MEHA, FY12CE 2019: ACCOUNTING.

 14.

4. (i) ___________________________________________________________________________

___________________________________________________________________________
(1 mark)

(ii) (I) Acid Test ratio

___________________________________________________________________________

___________________________________________________________________________

___________________________________________________________________________
(1 mark)
(II) Debt to Equity percentage
___________________________________________________________________________

___________________________________________________________________________

___________________________________________________________________________
(1 mark)

(iii) Purpose
___________________________________________________________________________

___________________________________________________________________________
(1 mark)

5.

Effect (Increase, decrease or no effect)

1.

2.

(2 marks)

20

© MEHA, FY12CE 2019: ACCOUNTING.

 15.

QUESTION 6 SYSTEMS FOR IMPLEMENTING [22 marks]

ACCOUNTING PROCESS

PART A ACCOUNTING FOR CREDIT TRANSACTIONS [6 marks]

1. Accounts Payables Control Account

Date Particulars $ Date Particulars $

(4 marks)

2. (i) One weakness

___________________________________________________________________________

___________________________________________________________________________
(1 mark)

(ii) One recommendation

___________________________________________________________________________

___________________________________________________________________________
(1 mark)

PART B PAYROLL [6 marks]

1 A B C D
(1 mark)

2. (i) (I) Normal pay

___________________________________________________________________________

___________________________________________________________________________
(1 mark)

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© MEHA, FY12CE 2019: ACCOUNTING.

 16.

(II) Overtime pay

___________________________________________________________________________

___________________________________________________________________________

___________________________________________________________________________
(1 mark)

(III) Gross pay

___________________________________________________________________________

___________________________________________________________________________

___________________________________________________________________________
(1 mark)
(ii) One advantage
_____________________________________________________________________________

_____________________________________________________________________________
(1 mark)

(iii) ________________________________
(1 mark)

PART C ACCOUNTING FOR INCOMPLETE RECORDS [6 marks]

1. Statement to show Cost of Inventory stolen.

$ $

(3 marks)

© MEHA, FY12CE 2019: ACCOUNTING.

 17.

2. Capital Account

Date Particulars $ Date Particulars $

(3 marks)

PART D ACCOUNTING FOR DATA PROCESSING [4 marks]

1 A B C D
(1 mark)

2. Accounting software
_________________________________________________________________________

_________________________________________________________________________
(1 mark)
3. Example
__________________________________________________________________________
(1 mark)

4. One importance

__________________________________________________________________________

__________________________________________________________________________
(1 mark)

22

THE END

_______________________
COPYRIGHT: MEHA, FIJI, 2019.
INDEX NUMBER

ACCOUNTING

FOR MARKER’S USE

Ques. Mark Check
No. Gained Mark

Total