Accounting 9706/23 Oct Nov 2010 | Cambridge AS Level Past Papers With Mark Scheme

1. Income and appropriation accounts for James and Gemma, including salary, interest on capital, and profit-sharing adjustments based on partnership terms.
2. Depreciation of non-current assets for proportional year periods and loan interest inclusion in partnership expenses.
3. Columnar current accounts reflecting capital additions, drawings, and profit distributions for both partners.
4. Calculation of inventory turnover, return on capital employed, and liquid ratio for Fred’s business, emphasizing profitability and liquidity.
5. Inventory valuation under FIFO method, including cost of goods sold and closing stock.
6. Determination of cost of destroyed inventory due to fire, based on opening stock, purchases, and profit margin.
7. Calculation of net book value of fixtures and fittings at year-end, accounting for straight-line depreciation.
8. Job cost analysis for Mandar Limited, calculating total costs and overhead absorption per department.
9. Selling price computation for Job Number SMC20, incorporating cost-plus markup for profitability.
10. Alternative overhead absorption methods, emphasizing direct labor hours and other allocation bases.