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1 markThe Balance Sheet and Accounting Equation

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

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.

Identify the most liquid current asset of the business.

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Other parts of this question

  1. 1(a)(i)Prepare Peter Jones' classified Balance Sheet as at March 31, 2010, using the order of permanence.[10 marks]
  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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