Accounting 9706/23 May June 2017 | Cambridge AS Level Past Papers With Mark Scheme

1. Partnership financials: Calculation of adjusted profit, preparation of partnership appropriation account, and explanation of goodwill valuation and asset revaluation upon partner retirement.
2. Equity changes in a limited company: Preparation of statement of changes in equity for WX Limited, advantages and disadvantages of a bonus issue of shares, and impact on reserves.
3. Ratio analysis and inventory management: Calculation of trade receivables turnover, closing inventory, trade payables turnover, and uses of ratio analysis for Stapleton’s business.
4. Contribution and profit maximization: Calculation of contribution per unit, maximum profit under resource constraints, and decision-making for hiring replacement machinery for Y Limited.
5. Absorption costing and overhead management: Calculation of overhead absorption rates, identification of over/under absorption of overheads, and application of marginal costing in short-term decision-making scenarios.