Complete Worked Solutions For Csec Principles Of Accounts Past Paper May June

Complete Worked Solutions for CSEC Principles of Accounts Past Paper May/June 2008 – 2024

by Rosemarie Allen

4.4 out of 5

Language	:	English
File size	:	3894 KB
Screen Reader	:	Supported
Print length	:	118 pages
Lending	:	Enabled

FREE

This article provides complete worked solutions for the CSEC Principles of Accounts past paper for May/June. It covers all the questions in the paper and provides step-by-step solutions.

Section A

Question 1

A business had the following transactions during the month of January:

• Purchased goods on credit from Smith & Co. for $1,000.
• Sold goods for cash for $1,500.
• Paid rent for the month for $200.
• Received payment from a customer for $500.

Prepare a trial balance as at January 31.

Question 2

A business has the following balances on its balance sheet as at December 31, 2018:

• Cash: $1,000
• Accounts Receivable: $2,000
• Inventory: $3,000
• Land: $5,000
• Buildings: $10,000
• Equipment: $2,000
• Accounts Payable: $1,500
• Share Capital: $10,000

Prepare a statement of financial position as at December 31, 2018.

Complete Worked Solutions for CSEC Principles of Accounts Past Paper May/June 2008 – 2024

by Rosemarie Allen

4.4 out of 5

Language	:	English
File size	:	3894 KB
Screen Reader	:	Supported
Print length	:	118 pages
Lending	:	Enabled

FREE