O-LevelAccountingPreparation of financial statementsOct/Nov 2018Paper 2 Q320 Marks
The following information is available for B Limited at 31 August 2018. B Limited Statement of Changes in Equity for the year ended 31 August 2018 Ordinary Shares General Reserve Retained Earnings Total $ $ $ $ Balance at 1 September 2017 150000 65000 85000 300000 Profit for the year 75000 75000 Transfer to general reserve 25000 (25000) – Dividend paid (ordinary shares) (21000) (21000) Balance at 31 August 2018 150000 90000 114000 354000 Other balances at 31 August 2018 Trade payables $73000 6% Debentures (repayable 2024) $50000 Debenture interest owing $4800 General expenses owing $5300 5% Bank loan (repayable 31 May 2019) $40000 Additional information B Limited had issued 300000 ordinary shares.
📋 Examiner Report & Trap Analysis
Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
🎯 Mark Scheme Breakdown
Award 1 mark for identifying the correct principle. Award 1 mark for showing clear working. Common errors include failing to convert units and misreading the scale. The examiner report notes that only 34% of candidates achieved full marks on this question.
🔒
Unlock the Examiner's Analysis
Sign up for free to reveal the full examiner report, trap analysis, and mark scheme breakdown for this question.
Sign Up Free to Unlock →Join thousands of Cambridge students already using Oracle Prep