Accounting 9706/02 Oct Nov 2007 | Cambridge AS Level Past Papers With Mark Scheme

1. Partnership profit-sharing and financial adjustments: Preparation of profit and loss and appropriation account, current account for Jaro, and identification of financing methods for partnership needs.
2. Sales calculation and financial statement preparation: Determination of Gabriel’s sales, preparation of trading and profit and loss accounts, and calculation of gross profit percentage, net profit percentage, and stock turnover rate.
3. Overhead analysis and costing for production departments: Preparation of overhead analysis sheet for Newstead Furniture Ltd, calculation of overhead recovery rates for Assembly and Finishing departments, and total cost calculation for a two-seat bench.
4. Depreciation and expense adjustments: Calculation of depreciation on fixtures, adjustments for prepaid wages and accrued insurance, and impact on financial statements for Killim and Jaro's partnership.
5. Debt collection and payment analysis: Analysis of debt collection and payment for Wong and Gruber and Gupta, dissolution costs, and remaining asset valuation for GWG Ltd formation.
6. Costing methods and departmental overhead allocation: Basis for overhead allocation to Assembly and Finishing departments, reasons for using different overhead recovery rates, and implications for product costing in Newstead Furniture Ltd.