Quelpr
11 marksRecording Financial Information

CAPE Accounting Unit 1 · 2017 · Paper 2 · Question 1(c)

Equity section of Le Appetite as at 31 December 2015 and transactions occurring during 2016 involving share repurchase, share issue, interim dividend, debenture interest, and share investment.

Prepare the journal entries (without narratives) to record the transactions during 2016.

The mark scheme is shown once you've answered.

Practise this question

Other parts of this question

  1. 1(a)(i)Explain the meaning of 'Verifiability' and 'Prudence' as defined in the IASB conceptual framework for the preparation and presentation of financial statements.[4 marks]
  2. 1(a)(ii)According to the framework, explain TWO characteristics of relevant information that make the information in financial statements relevant to users.[4 marks]
  3. 1(b)(i)List TWO other principles of internal controls concerning the management of cash, in addition to physical, mechanical and electronic controls, and segregation…[2 marks]
  4. 1(b)(ii)Describe TWO procedures to be implemented for EACH of the FOUR principles given as well as recommended in (b)(i).[8 marks]
  5. 1(b)(iii)Outline THREE differences between an 'internal auditor' and an 'external auditor'.[6 marks]

More practice: the rest of this paper · more Recording Financial Information questions · all CAPE Accounting Unit 1 past papers