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© Copyright for part(s) of this examination may be held by individuals and/or organisations other than the Office of Tasmanian Assessment, Standards and Certification.
Tasmanian Certificate of Education
External Assessment 2019
ACCOUNTING (ACC315116)
Time Allowed:
Working time: 3 hours
Plus 15 minutes recommended reading time
On the basis of your performance in this examination, the examiners will provide results on each of the
following criteria taken from the course document:
Criterion 1 Describe accounting and financial terms, concepts and principles.
Criterion 2 Apply double-entry accounting terms, concepts and processes to record and control financial information.
Criterion 3 Apply accrual accounting terms, concepts and processes to select and organise data to prepare financial reports.
Criterion 4 Apply financial concepts and processes to prepare and assess financial information and make business decisions.
Criterion 6 Communicate financial ideas and information.
PLACE YOUR CANDIDATE
LABEL HERE
Candidate Instructions
1. You MUST make sure that your responses to the questions in this examination paper show your
achievement in the criteria being assessed.
2. There are FOUR sections to this paper.
3. You must answer: BOTH questions from Section A in Section A answer booklet provided
ALL questions from Section B in Section B answer booklet provided
BOTH questions from Section C in Section C answer booklet provided
ALL questions from Section D in Section D answer booklet provided.
4. The recommended time to be spent on a section is given in the instructions of that section.
5. It is recommended that calculators are used.
6. All formulae required for this examination are on the External Examination Formula Sheet provided.
7. All written responses must be in English.
Pages: 20
Questions: 10
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Answer BOTH questions in this section.
Use the Section A answer booklet supplied.
This section is worth 35 marks. It is recommended you spend approximately 35 minutes on this section.
This section assesses Criterion 1 and 6.
Question 1
(a) Answer ALL of the following questions:
i. What is a bank reconciliation statement? Identify TWO pieces of information provided by the
bank reconciliation statement.
ii. What is a chart of accounts? Identify TWO reasons why a chart of accounts is useful for a
business.
iii. Explain the meaning of “Owners Equity”. Identify TWO ways in which Owners Equity is
increased.
iv. Define a non-current liability. Give TWO examples of a non-current liability.
(4 x 3 = 12 marks)
(b) Answer ONE of the following:
Either
i. Identify and describe TWO limitations of the Accounting reports (Income Statement and Balance Sheet) in providing information to users of such reports.
Or
ii. Identify and describe TWO examples of non-financial information useful to assessing performance of a business.
(1 x 3 = 3 marks)
(c) Answer TWO of the following.
i. Distinguish between internal and external users of accounting reports.
ii. Distinguish between a current asset and a non-current asset.
iii. How does accrual accounting differ from cash-based accounting?
iv. Distinguish an unearned revenue from an accrued revenue.
(2 x 4 = 8 marks)
Section A continues.
SECTION A
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Section A (continued)
Question 2
(a) Answer TWO of the following. Provide appropriate examples.
i. Explain the nature of items recorded as Property Plant and Equipment in a Balance Sheet.
ii. What is the accounting period assumption and how does it affect the preparation of the
accounting reports?
iii. Explain the meaning of historical cost (objectivity) as it applies to the preparation of
accounting reports.
iv. Explain the role of the stocktake in a business using a perpetual inventory system.
(2 x 3 = 6 marks)
(b) Answer TWO of the following.
i. Explain the effect on reported profit if a business does not account for accrued expenses as required by the matching principle.
ii. Explain to your business manager why a provision is made for Bad and Doubtful Debts even though the debts may not yet be proven to be uncollectable.
iii. Identify and explain the accounting assumption that is breached should a business owner claim personal expenses as expenses of their business. Describe the likely effect on the accounting reports.
iv. What is meant by ‘relevance’ in preparation of accounting reports, and what may be the consequence of ignoring this qualitative characteristic?
(2 x 3 = 6 marks)
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Answer ALL questions in this section.
Use Section B answer booklet supplied.
This section is worth 40 marks. It is recommended you spend approximately 40 minutes on this section.
This section assesses Criterion 2.
Question 3
The following are some transactions relating to a business commenced on July 1, 2018 by Marg Wilson.
A perpetual inventory system is used. GST of 10% is included where indicated.
The following events and transactions are some that occurred in the year ended June 30, 2019.
Date Transaction
July 1 Commenced business with assets of cash ($20 000), a computer system ($3 500) and a motor vehicle ($45 000). A loan taken out to purchase the vehicle of which $30 000 remains outstanding was also brought into the business as a liability.
July 26 Paid the lease on business premises in cash $6 600 (GST Incl.). Cheque No. 820.
August 6 Made credit purchase of inventory for $1 452 from supplier Wells and Co. (GST Incl.). Tax invoice 6870.
September 12 Sold goods on credit to Graeme Hall for $1 188 (GST Incl.). The goods had a recorded cost of $720. Tax invoice 2760.
October 4 Returned inventory purchased on August 6 to Wells and Co. for credit. This inventory had been recorded at cost of $240. Credit Note 82.
November 28 A correcting entry is made for an amount of $440 which had been wrongly debited to account receivable A. Brown, when it should have been to account receivable J. Brown.
January 23 A single entry to record owner’s drawings of $650 from the business comprised of $450 in cash and $200 in GST-free inventory.
February 14 An amount of $550 owed by account receivable G. Trotter was written off as a bad debt (GST Incl.).
June 30 A stocktake revealed that actual inventory on hand amounted to $16 500 whereas the value as recorded in inventory records amounted to $16,800.
June 30 Made balance day adjustment of $1 120 for commission revenue earned but not yet received.
(18 marks)
You are required to provide General Journal entries for the transactions shown above.
Make sure that you:
(a) Record GST in all applicable entries.
(b) Enter dates and narrations for each entry.
Section B continues.
SECTION B
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Section B (continued)
Question 4 The following extract of accounts shows recording of a transaction on January 23 (A) and a transaction on
January 29 (B).
Sales
Date Particulars $ Date Particulars $
Jan.23 J Smith (A) 7 700
Sales Returns
Date Particulars $ Date Particulars $
Jan 29 J Smith (B) 3000
J Smith
Date Particulars $ Date Particulars $
Jan
23
Sales (A) 8 470 Jan
29
Sales Returns/GST
Clearing (B)
3 300
GST Clearing
Date Particulars $ Date Particulars $
Jan
29
J Smith (B) 300 Jan
23
J Smith (A) 770
Question 4 continues.
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Question 4 (continued)
Alternative account structure
Sales
Date Particulars Dr $
Cr $
Bal $
Jan 23 J Smith (A) 7 700 7 700 Cr
Sales Returns
Date Particulars Dr $
Cr $
Bal $
Jan 29 J Smith (B) 3 000 3 000 Dr
J Smith
Date Particulars Dr $
Cr $
Bal $
Jan 23 Sales (A) 8 470 8 470 Dr
Jan 29 Sales Returns/GST Clearing (B) 3 300 5 170 Dr
GST Clearing
Date Particulars Dr $
Cr $
Bal $
Jan 23 J Smith (A) 770 770 Cr
Jan 29 J Smith (B) 300 470 Cr
You are required to:
(a) Explain the transaction marked (A).
(b) Explain the transaction marked (B).
(c) Identify where Sales Returns would be recorded in the Accounting Reports.
(2 +2 + 1 = 5 marks)
Section B continues.
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Section B (continued)
Question 5
Mike Shott owns Shotts Game Store. He pays some accounts by cheque, but others are by direct transfer.
His main receipts are from cash and EFT (electronic funds transfer) transactions; but some customers pay
by direct deposit.
Cash receipt and cash payments records are updated daily from the online bank statement.
The following details relate to cash at bank transactions for Shotts Game Store during October 2019.
Cash Receipts Cash Payments
Date Details $ Date Details Chq.No. $
Oct 4 Cash sales 950 Oct 2 Wages-J. McCall 2 500
EFT Sales 4 540 Drawings-M.Shott 3 000
Oct 11 Lotti’s Leisure 1876 Oct 6 Commercial Insurance 701 1 350
Happy Harry’s 980 Oct 10 Gametime Supplies 790
Oct 11 Cash sales 438 Oct 13 Cartex Petroleum 702 1 132
EFT Sales 2 955 Oct 16 Wages-J. McCall 2 500
Electro Games 1 764 Drawings-M.Shott 3 000
Oct 18 Cash sales 782 Oct 19 Rent-Ace Real Estate 703 890
EFT Sales 3 347 Oct 22 Leisure Supplies 1 298
Oct 25 Cash sales 558 Oct 30 Wages-J. McCall 2 500
EFT Sales 3 070 Drawings-M.Shott 3 000
Oct 31 Commission 125 Stationery Supplies 704 438
Bank Reconciliation Statement as at September 30, 2019
$ $
Debit balance as per bank statement 835
Add Unpresented cheques
671 85
685 97
692 183 365
Credit balance as per Cash at bank account 1 200
Question 5 continues.
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Question 5 (continued)
The bank statement for October 2019 is shown below.
Shott’s Game Store
Statement of Account
Date Particulars Dr Cr Balance
Oct 1 Balance brought forward 835 Dr
671 85 920 Dr
Oct 2 J McCall-transfer 2 500 3 420 Dr
M Shott-transfer 3 000 6 420 Dr
Oct 4 EFT Sales 950 5 470 Dr
Oct 5 Cash/Cheques 4 540 930 Dr
692 183 1 113 Dr
Oct 8 701 1 350 2 463 Dr
Oct 10 Lotti’s Leisure-direct deposit 1 876 587 Dr
Gametime Supplies-transfer 790 1 377 Dr
Happy Harry’s-direct deposit 980 397 Dr
Oct 11 EFT Sales 2 955 2 558 Cr
Electro Games-direct deposit 1 764 4 322 Cr
Oct 12 Cash/Cheques 438 4 760 Cr
Oct 16 J McCall-transfer 2 500 2 260 Cr
M Shott-transfer 3 000 740 Dr
Oct 18 EFT Sales 3 347 2 607 Cr
Oct 19 Cash/Cheques 782 3 389 Cr
702 1 123 2 266 Cr
Oct 22 Leisure Supplies-transfer 1 298 968 Cr
Oct 25 EFT Sales 3 070 4 038Cr
Oct 26 Cash/Cheques 558 4 596 Cr
Oct 30 J McCall-transfer 2 500 2 096 Cr
M Shott-transfer 3 000 904 Dr
Oct 31 Electro games-direct deposit 320 584 Dr
Interest on O/D 52 636 Dr
Bank fees and charges 16 652 Dr
Question 5 continues.
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Question 5 (continued)
Additional Information:
The bank has accepted responsibility for an error in recording cheque number 702. The error has not yet
been corrected.
Answer ALL of the following:
(a) Enter appropriate entries into, and total, the Cash Receipts for the month ended October 31, 2019.
(b) Enter appropriate entries into, and total, the Cash Payments for the month ended October 31, 2019.
(c) Prepare and balance the Cash at Bank ledger account for October. The T-account format or
columnar format may be used.
(d) Prepare the Bank Reconciliation Statement for Shotts Game Store as at October 31, 2019.
(2 + 3 + 4 + 8 = 17 marks)
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Answer ALL questions in this section.
Use Section C answer booklet supplied.
This section is worth 65 marks. It is recommended you spend approximately 65 minutes on this section.
This section assesses Criterion 3.
Question 6
A trial balance was extracted as at June 30, 2019 from the general ledger of Waugh Paints - a paint and
associated products retailer and wholesaler.
Additional Information:
The following balance day adjustments have yet to be made.
A stocktake reveals inventory on hand at $53 500.
Insurance is paid annually in advance. The last payment of $6 000 was made on January 31, 2019.
Interest on the term deposit is received quarterly (3 monthly) with the next payment of $720 due to be received on July 31, 2019.
A provision for doubtful debts of $1 200 is to be created.
Shop fittings are depreciated at 10% straight line and paint mixing equipment at 15% diminishing balance.
Prepare BOTH of the following:
(a) A properly classified Income Statement in narrative form for Waugh Paints for the year ended June 30, 2019.
(25 marks)
(b) A properly classified Balance Sheet in narrative form for Waugh Paints for the year ended June 30, 2019.
(20 marks)
Question 6 continues.
SECTION C
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Question 6 (continued)
Waugh Paints
Trial Balance as at June 30, 2019
$ $
Capital-J.Waugh 231 310
Cash at bank 8 650
Inventory 53 780
Office wages 92 000
Sales 1 209 000
Lease expense - building 42 000
Delivery van expenses 23 100
Sales returns 6 700
Shop staff wages 130 000
Insurance 7 400
Bank charges 2 100
Cost of goods sold 880 000
Interest on term deposit 2 680
Accounts receivable 15 600
General office expenses 10 000
Paint mixing equipment 18 000
Term deposit (due June 2022) 78 000
Communications expense 3 560
Shop fittings 22 000
Advertising 16 000
Accumulated depreciation shop fittings 6 800
Accumulated depreciation paint mixing equipment 3 200
Goodwill 10 000
Accounts payable 47 600
GST Clearing 8 300
Drawings 90 000
$1 508 890 $1 508 890
Section C continues.
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Section C (continued)
Question 7
The following cash transactions relate to the operations of Rapid Logistics for the financial year ended
June 30, 2019.
$
Cash sales 72 400
Receipts from accounts receivable 290 000
Capital introduced 25 000
Proceeds of sale of surplus equipment 2 300
Other operating expenses 56 800
Dividends from investment in shares 2 800
Cash payments for materials 10 000
Proceeds of sale of shares held as investment 10 000
Purchase of new trailer 69 000
Interest revenue 690
Payments to suppliers 102 000
Proceeds of borrowing from Transport Finance Co. 12 000
Payments to employees 92 000
Additional information:
The balance of the Cash at Bank account as at July 1, 2018 was $12 650.
The balance of the owner’s Capital account at July 1, 2018 was $100 000, and at June 30, 2019
was $121 000.
Net profit for the period was $76 000.
Drawings made by the owner through the period were in cash.
You are required to:
(a) Calculate the value of owner’s drawings.
(b) Prepare a properly classified Statement of Cash Flows for Rapid Logistics for the year ended
June 30, 2019.
(5 + 15 = 20 marks)
ACC315116 Page 14 of 20
Answer ALL questions in this section.
Use Section D answer booklet supplied.
This section is worth 40 marks. It is recommended you spend approximately 40 minutes on this section.
This section assesses Criterion 4 and 6.
Question 8
The following account balances have been extracted from the Income Statement and Balance Sheet of a
business for the financial year 2018 and 2019.
2018
$
2019
$
Sales 228 000 232 000
Sales Returns 2 600 2 900
Cost of Goods Sold 122 300 123 110
Selling Expenses 12 000 15 000
Administrative expenses 12 000 14 000
Finance expenses 8 000 10 000
Owner’s Equity 600 000 620 000
Calculate, for 2019:
(a) Gross profit ratio
(b) Net profit ratio
(c) Rate of return on owner’s equity
(3 x 2 = 6 marks)
Section D continues.
SECTION D
ACC315116 Page 15 of 20
Section D (continued)
Question 9
The following data is extracted from the accounting records of a business for 2017, 2018 and 2019.
Income Statement summary
2017
$,000
2018
$,000
2019
$,000
Sales 430 420 300
Less Cost of Goods Sold 140 143 110
Gross profit 290 277 190
Less expenses
Selling expense 48 51 64
Administrative expense 70 85 93
Finance expense 52 54 58
Total expenses 170 190 215
Net profit (loss) 120 87 (25)
Balance Sheet summary
2017
$,000
2018
$,000
2019
$,000
Current assets Cash at bank 32 29 0
Accounts receivable 120 125 128
Inventory 178 189 195
Prepaid expense 2 3 2
Total current assets 332 346 325
Total non-current assets 1 125 1 156 1 121
Total assets 1 457 1 502 1 446
Current liabilities
Bank overdraft 0 0 11
Accounts payable 190 198 206
Total current liabilities 190 198 217
Total non-current liabilities 800 750 700
Total liabilities 990 948 917
Net assets 467 554 529
Owner’s Equity
Capital at beginning of year 347 467 554
Add Net profit/(Loss) 120 87 (25)
Capital at end of year 467 554 529
Question 9 continues.
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Question 9 (continued)
Calculated ratios
2017 2018 2019 Industry
average
Quick asset ratio (liquidity) 0.80:1 0.78:1 0.59:1 0.81:1
Current ratio (liquidity) 1.75:1 1.75:1 1.50:1 1.92:1
Debt ratio (stability) 67.95% 63.12% 63.42% 52.8 %
Equity ratio (stability) 32.05% 36.88% 36.58% 47.2 %
Gross profit ratio 67.44% 65.95% 63.33% 68%
Net profit ratio 27.91% 20.71% -8.33% 32%
Rate of return on Owner’s Equity 19.6% 17.04% -4.62% 19%
You are required to analyse the Income Statement and Balance Sheet data and the calculated ratios and:
(a) Comment upon the profitability of the business.
(b) Comment on the liquidity of the business.
(c) Comment on the financial stability of the business.
(d) Provide one recommendation to management based on the information given.
(8+6+6+4 = 24 marks)
Section D continues.
ACC315116 Page 17 of 20
Section D (continued)
Question 10
Grobest Pty Ltd is a business servicing the agriculture sector. The company intends to develop a seed
cleaning service in addition to its existing operations, and will borrow to fund the necessary machinery.
The Cash Budget for 3 months ending February 29, 2020 is shown below.
Grobest Pty Ltd
Cash Budget for the three months ended February 29, 2020
December January February
Estimated cash receipts
Cash Sales 5 800 5 900 6 100
Receipts from accounts receivable 16 000 16 620 17 000
Consultancy fees received 2 400 3 000 4 000
Proceeds of loan 125 000
Receipts from seed cleaning 4 300
Dividends on shares owned 1 800
Total estimated receipts 24 200 152 320 31 400
Estimated cash payments
Payments to accounts payable 8 500 8 000 8 100
Sundry administrative expenses 1 050 1 100 1 100
Rental of property 4 000 4 000 4 000
Loan repayment 2 800 2 800 4 600
Purchase and installation of seed
cleaner 156 000
Total estimated payments 16 350 171 900 17 800
Bank balance at start of month 5 800 13 650 (5 930)
Excess of receipts over payments 7 850 13 600
Excess of payments over receipts (19 580)
Bank balance at end of month 13 650 (5 930) 7 670
Answer ALL of the following questions relating to the Cash Budget for Grobest Pty Ltd.
(a) Comment on the change in the estimated cash position over the 3 months of the budget period.
(b) Identify the issue that faces Grobest Pty Ltd in January and the cause of that issue.
(c) Suggest and assess TWO courses of action available to Grobest Pty Ltd to address this issue.
(2 + 4 + 4 = 10 marks)
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This examination paper and any materials associated with this examination (including answer booklets, cover sheets, rough note
paper, or information sheets) remain the property of the Office of Tasmanian Assessment, Standards and Certification (TASC).
© Copyright for part(s) of this examination may be held by individuals and/or organisations other than the Office of Tasmanian Assessment, Standards and Certification.
Tasmanian Certificate of Education
External Assessment 2019
ACCOUNTING (ACC315116)
ANSWER BOOKLET – Section A
Clearly show which question you are answering in the answer booklet.
Marker’s Use Only
Question 1 – Criterion 1
(a) (b) (c)
Question 2 – Criterion 1
(a) (b)
Criterion 6
PLACE YOUR CANDIDATE
LABEL HERE
Pages: 12
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BLANK PAGE
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Marker’s Use Only
Question 1
Students MUST indicate which part is being answered.
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Students MUST indicate which part is being answered.
Question 1 (continued)
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Students MUST indicate which part is being answered.
Question 1 (continued)
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Students MUST indicate which part is being answered.
Question 1 (continued)
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Marker’s Use Only
Question 2
Students MUST indicate which part is being answered.
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Marker’s Use Only
Students MUST indicate which part is being answered.
Question 2 (continued)
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Marker’s Use Only
Students MUST indicate which part is being answered.
Question 2 (continued)
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Marker’s Use Only
Students MUST indicate which part is being answered.
Question 2 (continued)
ACC315116 Page 11 of 12
BLANK PAGE
ACC315116 Page 12 of 12
This examination paper and any materials associated with this examination (including answer booklets, cover sheets, rough note
paper, or information sheets) remain the property of the Office of Tasmanian Assessment, Standards and Certification (TASC).
© Copyright for part(s) of this examination may be held by individuals and/or organisations other than the Office of Tasmanian Assessment, Standards and Certification.
Tasmanian Certificate of Education
External Assessment 2019
ACCOUNTING (ACC315116)
ANSWER BOOKLET – Section B
Clearly show which question you are answering in the answer booklet.
Marker’s Use Only
CRITERION 2
Question 3
Question 4
(a) (b) (c)
Question 5
(a) (b) (c) (d)
PLACE YOUR CANDIDATE
LABEL HERE
Pages: 8
ACC315116 Page 2 of 8
Marker’s Use Only Question 3
Date Particulars Debit ($) Credit ($)
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Marker’s Use Only
Question 3 (continued)
Date Particulars Debit ($) Credit ($)
ACC315116 Page 4 of 8
Marker’s Use Only Question 4
(a)
(b)
(c)
ACC315116 Page 5 of 8
Question 5
(a) (b)
Cash Receipts Cash Payments
Date Details $ Date Details Chq.
No.
$
Oct 4 Cash sales 950 Oct 2 Wages-J. McCall 2 500
EFT Sales 4 540 Drawings-M.Shott 3 000
Oct 11 Lotti’s Leisure 1876 Oct 6 Commercial Insurance 701 1 350
Happy Harry’s 980 Oct 10 Gametime Supplies 790
Oct 11 Cash sales 438 Oct 13 Cartex Petroleum 702 1 132
EFT Sales 2 955 Oct 16 Wages-J. McCall 2 500
Electro Games 1 764 Drawings-M.Shott 3 000
Oct 18 Cash sales 782 Oct 19 Rent-Ace Real Estate 703 890
EFT Sales 3 347 Oct 22 Leisure Supplies 1 298
Oct 25 Cash sales 558 Oct 30 Wages-J. McCall 2 500
EFT Sales 3 070 Drawings-M.Shott 3 000
Oct 31 Commission 125 Stationery Supplies 704 438
Sub-total Sub-total
ACC315116 Page 6 of 8
Marker’s
Use Only (c) EITHER – T – Account format
Question 5
(continued) Cash at Bank Account
Date Particulars $ Date Particulars $
OR – Columnar Format
Cash at Bank Account
Date Particulars Debit ($) Credit ($)
Balance
($)
ACC315116 Page 7 of 8
Marker’s
Use Only
(d)
.................................................................................
.................................................................................
Question 5
(continued)
................................................................................. $
ACC315116 Page 8 of 8
This examination paper and any materials associated with this examination (including answer booklets, cover sheets, rough note
paper, or information sheets) remain the property of the Office of Tasmanian Assessment, Standards and Certification (TASC).
© Copyright for part(s) of this examination may be held by individuals and/or organisations other than the Office of Tasmanian Assessment, Standards and Certification.
Tasmanian Certificate of Education
External Assessment 2019
ACCOUNTING (ACC315116)
ANSWER BOOKLET – Section C
Marker’s Use Only
CRITERION 3
Question 6
(a) (b)
Question 7
(a) (b)
PLACE YOUR CANDIDATE
LABEL HERE
Pages: 8
ACC315116 Page 2 of 8
Markers Use Only
Question 6
(a)
Entries Format Net Sales $ $ $
Less Cost of Sales
Gross Profit Add Other Revenue
Less Other Expenses
Selling and distribution expenses
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Marker’s Use Only
General & administrative expenses $ $ $
Question 6(a) (continued)
Finance expenses
Net Profit/(Net Loss) $
Total
/25
ACC315116 Page 4 of 8
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(b)
Entries Format ASSETS $ $ $ $
Current Assets
Add Non-Current Assets
Other financial assets
Property, plant and equipment
Intangibles
Total Assets $
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Marker’s Use Only
Less LIABILITIES $ $ $ $
Current Liabilities Question 6(b) (continued)
Entries Format
Non-Current Liabilities
Total Liabilities
$
NET ASSETS $ OWNER’S EQUITY
Total
/20
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Marker’s Use Only
Question 7 .
(a)
/5
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Marker’s Use Only
Question 7
(b)
Rapid Logistics Cash Flow Statement for the year ended June 30, 2019
$ $ $
Cash flows from operating activities
Inflows
Outflows
Net cash provided (used) by operations
Cash flows from investing activities
Inflows
Outflows
Net cash provided (used) by investing
Cash flows from financing activities
Inflows
Outflows
Net cash provided (used) by financing
Net increase (decrease) in cash held
Cash at beginning of reporting period
/15 Cash at end of reporting period
ACC315116 Page 8 of 8
This examination paper and any materials associated with this examination (including answer booklets, cover sheets, rough note
paper, or information sheets) remain the property of the Office of Tasmanian Assessment, Standards and Certification (TASC).
© Copyright for part(s) of this examination may be held by individuals and/or organisations other than the Office of Tasmanian Assessment, Standards and Certification.
Tasmanian Certificate of Education
External Assessment 2019
ACCOUNTING (ACC315116)
ANSWER BOOKLET – Section D
Marker’s Use Only
Question 8 – Criterion 4
(a) (b) (c)
Question 9 – Criterion 4 Question 9 – Criterion 6 (a) (b) (c) (d)
Question 10 – Criterion 4 Question 10 – Criterion 6 (a) (b) (c)
PLACE YOUR CANDIDATE
LABEL HERE
Pages: 12
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Marker Use Only Question 8
(a) Gross profit ratio
Calculations
Answer:
(b) Net profit ratio
Calculations
Answer:
(c) Rate of return on owners equity Calculations
Answer:
ACC315116 Page 4 of 12
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Question 9 Students MUST indicate which part is being answered.
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Marker Use Only
Question 9
(continued)
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Question 9
(continued)
Total Criterion 4: Total Criterion 6:
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Question 10 Students MUST indicate which part is being answered.
Question 10
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Marker Use Only
Question 10
(continued)
Total Criterion 4:
Total Criterion 6:
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This examination paper and any materials associated with this examination (including answer booklets, cover sheets, rough note
paper, or information sheets) remain the property of the Office of Tasmanian Assessment, Standards and Certification (TASC).
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