Accounting 9706/23 Oct Nov 2020 | Cambridge AS Level Past Papers With Mark Scheme

1. Preparation of G Limited's income statement and statement of financial position, incorporating depreciation, doubtful debts, and accrued/prepaid expenses.
2. Explanation and distinction between ordinary and preference shares, with practical uses of capital reserves.
3. Revision of profit after correcting errors in trial balance entries, including motor vehicle cost misclassification and unrecorded transactions.
4. Sales, trade receivables, and payables turnover calculations, with liquidity implications for Giles's business.
5. Calculation of product contributions, optimal production plan, and total profit for limited machine hours, advising on potential landlord payment for increased capacity.
6. Definitions of variable, semi-variable, and fixed costs, with assumptions in marginal costing for decision-making under resource constraints.