Accounting 9706/23 May June 2021 | Cambridge AS Level Past Papers With Mark Scheme

1. Accounting concepts of consistency, realization, and materiality applied in financial statement preparation, including error corrections affecting gross profit.
2. Comprehensive income statement preparation involving depreciation, doubtful debts, and rent adjustments, with analysis of business profitability improvement proposals.
3. Sales ledger control account and purchases ledger adjustments, resolving discrepancies from contra entries, overstatements, and interest misclassification.
4. Partnership dissolution involving realisation and capital accounts, settlement of trade payables with discounts, and discussion of reasons for partnership dissolution.
5. Break-even analysis for T Limited, calculation of contribution-to-sales ratio, margin of safety, and profit under scenarios involving reduced production or machine replacement.
6. Evaluation of budgetary control limitations and decision-making on production options with cost and profitability implications during machinery constraints.