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A Level Acc J2023 P1 MS

The document is a suggested marking scheme for the ZIMSEC 'A' Level Accounting exam from June 2023. It includes answers to various accounting questions, calculations for provisions, control accounts, cashbooks, bank reconciliations, and budgets. Additionally, it provides formulas for financial metrics such as Average Rate of Return (ARR) and inventory turnover.

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Aaron Munyorwi
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236 views3 pages

A Level Acc J2023 P1 MS

The document is a suggested marking scheme for the ZIMSEC 'A' Level Accounting exam from June 2023. It includes answers to various accounting questions, calculations for provisions, control accounts, cashbooks, bank reconciliations, and budgets. Additionally, it provides formulas for financial metrics such as Average Rate of Return (ARR) and inventory turnover.

Uploaded by

Aaron Munyorwi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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‘A’ LEVEL ACCOUNTING

ZIMSEC 6001/1 JUNE 2023


SUGGESTED MARKING SCHEME

1 C
2 B
3 D
4 A Provision for doubtful debts
$ $
Balance b/d 800
Balance c/d 905 Income statement 105
905 905

5 A Sales Ledger Control Account


$ $
Balance b/d 17 080 Bank 70 440
Credit sales 64 000 Cash 3 280
Balance c/d 7 360
81 080 81 080

6 A Updated cashbook
$ $
Balance b/d 800 Bank charges 2 500
Balance c/d 1 700
2 500 2 500

Bank reconciliation statement


DR CR
$ $
Balance as per cashbook 1 700
Unpresented cheques 12 000
Uncredited deposits 2 800
Balance as per bank statement 7 500
12 000 12 000
7 C
8 A
9 A
10 B
11 B
12 C
13 C
14 A

MAKE ACCOUNTING EASY WITH MR KAYBEE: +263 71 818 1255[APP/CALL]


15 C Average profits
ARR = × 100
Average capital

Initial outlay + scrape value


Average capital =
2

$(75 000 +25 000)


=
2

= $50 000

$16 000
Therefore, ARR = × 100
$50 000

= 32%

16 A
17 C
18 D
19 C
20 D
21 C
22 C
23 D
24 D
25 A
26 B
27 B
28 D
29 C Average inventory
Inventory turnover (days) = × 365
Cost of goods sold

30 B Profit after tax & preference dividends


Dividend cover =
Ordinary dividend paid

$(280 000−94 000−66 000)


=
$50 000

= 2,40 times
31 D
32 B
33 A
34 C

MAKE ACCOUNTING EASY WITH MR KAYBEE: +263 71 818 1255[APP/CALL]


35 C Production Budget (units)
Sales 19 000
Closing inventory 3 000
Opening inventory (4 000)
Required production 18 000

Material Purchases Budget


Required production 18 000
Required material (kg) 8
144 000
Closing inventory (kg) 53 000
Opening inventory (kg) (50 000)
Purchases (kg) 147 000

36 C
37 D
38 B
39 B
40 D

MAKE ACCOUNTING EASY WITH MR KAYBEE: +263 71 818 1255[APP/CALL]

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