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10 marksThe Balance Sheet and Accounting Equation

CSEC Principles of Accounts · May/June 2010 · Paper 2 · Question 1(a)(i)

Peter Jones, a sole trader, provides a list of balances as at March 31, 2010. Several transactions occurred during the year that were not recorded.

Prepare Peter Jones' classified Balance Sheet as at March 31, 2010, using the order of permanence.

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Other parts of this question

  1. 1(a)(ii)Identify the most liquid current asset of the business.[1 mark]
  2. 1(b)(i)On the worksheet provided, show the effect of the listed unrecorded transactions (1 to 6) on the accounts.[7 marks]
  3. 1(b)(ii)Calculate the new balance in the Bank Account.[2 marks]

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