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The Balance Sheet and Accounting Equation · CSEC Principles of Accounts

27 past-paper questions on The Balance Sheet and Accounting Equation, part of Section 2: Accounting as a System, from every CSEC Principles of Accounts paper on Quelpr.

Practise The Balance Sheet and Accounting Equation
  1. 3(a)6 marks· CSEC Principles of Accounts · January 2009 · Paper 2Prepare L. Marcus' Statement of Affairs as at January 1, 2008.
  2. 1(a)(i)2 marks· CSEC Principles of Accounts · January 2013 · Paper 2Describe the transaction that occurred on 2 May.
  3. 1(a)(ii)2 marks· CSEC Principles of Accounts · January 2013 · Paper 2Describe the transaction that occurred on 3 May.
  4. 1(b)11 marks· CSEC Principles of Accounts · January 2013 · Paper 2Using the order of permanence, draw up a classified Balance Sheet (Statement of Financial Position) for R. Robin at the close of business on 31 May 2012, including closing capital.
  5. 3(a)7 marks· CSEC Principles of Accounts · January 2013 · Paper 2Using all relevant information, prepare James Johnson's Statement of Affairs as at 31 December 2011 to determine his capital.
  6. 1(a)12 marks· CSEC Principles of Accounts · January 2016 · Paper 2Using the order of permanence, prepare a classified Statement of Financial Position (Balance Sheet) for J. Lampjack as at 31 December 2015.
  7. 1(b)8 marks· CSEC Principles of Accounts · January 2016 · Paper 2Complete the table to show the effect of each transaction on the opening balances of Assets, Liabilities, and Capital for St Jude's business using plus (+) and minus (-) signs appropriately, and compute the closing…
  8. 5(b)(i)4 marks· CSEC Principles of Accounts · January 2016 · Paper 2Draw up the list of Current Assets, using the order of permanence.
  9. 5(b)(ii)3 marks· CSEC Principles of Accounts · January 2016 · Paper 2Draw up the list of Current Liabilities.
  10. 1(a)10 marks· CSEC Principles of Accounts · January 2018 · Paper 2Prepare a Classified Statement of Financial Position (Balance Sheet) for the year ended 31 December 2017, using the order of liquidity.
  11. 1(b)4 marks· CSEC Principles of Accounts · January 2018 · Paper 2In the table provided, state the effect of each of the following transactions on the balance sheet equation (Assets, Liabilities, Capital): (i) The owner deposited an additional…
  12. 1(a)(i)10 marks· CSEC Principles of Accounts · May/June 2010 · Paper 2Prepare Peter Jones' classified Balance Sheet as at March 31, 2010, using the order of permanence.
  13. 1(a)(ii)1 mark· CSEC Principles of Accounts · May/June 2010 · Paper 2Identify the most liquid current asset of the business.
  14. 1(b)(i)7 marks· CSEC Principles of Accounts · May/June 2010 · Paper 2On the worksheet provided, show the effect of the listed unrecorded transactions (1 to 6) on the accounts.
  15. 1(b)(ii)2 marks· CSEC Principles of Accounts · May/June 2010 · Paper 2Calculate the new balance in the Bank Account.
  16. 3(a)(ii)5 marks· CSEC Principles of Accounts · May/June 2010 · Paper 2Prepare a Statement of Affairs as at February 01, 2009, to convert Khalel's Gardening Centre's single entry records.
  17. 3(b)(iii)1 mark· CSEC Principles of Accounts · May/June 2010 · Paper 2In which classification section of the Balance Sheet should Khalel record the loan from his sister?
  18. 120 marks· CSEC Principles of Accounts · May/June 2011 · Paper 2Prepare a classified Statement of Financial Position (Balance Sheet) for Mikail Jack, as at March 31, 2011, using the order of permanence in classifying assets.
  19. 4(a)(ii)7 marks· CSEC Principles of Accounts · May/June 2012 · Paper 2Prepare a classified summarized Balance Sheet for PG Enterprises as at 1 May 2012, using the order of permanence.
  20. 6(a)(i)2 marks· CSEC Principles of Accounts · May/June 2013 · Paper 2List the items which are considered fixed assets of Sautec Credit Union.
  21. 6(a)(ii)2 marks· CSEC Principles of Accounts · May/June 2013 · Paper 2List the items which are considered current liabilities of Sautec Credit Union.
  22. 3(a)6 marks· CSEC Principles of Accounts · May/June 2014 · Paper 2Prepare Jack Rapper's Statement of Affairs as at 01 January 2013.
  23. 3(b)(i)2 marks· CSEC Principles of Accounts · May/June 2015 · Paper 2Prepare a list showing Total non-current (fixed) assets as at 31 December 2014, showing clearly how you arrived at the dollar amount.
  24. 3(b)(ii)2 marks· CSEC Principles of Accounts · May/June 2015 · Paper 2Prepare a list showing Total current assets as at 31 December 2014, showing clearly how you arrived at the dollar amount.
  25. 3(b)(iii)2 marks· CSEC Principles of Accounts · May/June 2015 · Paper 2Prepare a list showing Total current liabilities as at 31 December 2014, showing clearly how you arrived at the dollar amount.
  26. 7(b)(ii)a)3 marks· CSEC Principles of Accounts · May/June 2015 · Paper 2Identify and total Non-current (fixed) assets for Flat Lands Cane Farmers' Co-operative.
  27. 7(b)(ii)b)2 marks· CSEC Principles of Accounts · May/June 2015 · Paper 2Identify and total Current assets for Flat Lands Cane Farmers' Co-operative.

Related topics in Section 2: Accounting as a System