2

(a)  

3

(a)  

4

Note: Used stationery is posted the P/L.

(a)  

5

(a)  

6

(a)  

7

(a)  

8

Note: Gross Profit% = $$\frac{Gross\ \Pr ofit}{Sales}\times100$$  

(a)  

9

(a)  

10

(a)  

11

(a)  

12

(a)  

13

(a)  

14

(a)  

15

(a)  

16

(a)  

17

The discount is $$2\frac{1}{2}\%$$ .

It was omitted from the question.

(a)  

18

(a)  

19

(a)  

20

(a)  

31

(a)  

32

(a)  

33 

(a)  

34

(a)  

35

(a)  

36 

Statement of Affairs is no longer on the syllabus. Select B as the answer.

(a)  

37

(a)  

38

(a)  

39

(a)  

40

(a)  

1

(a)  

2

(a)  

3

(a)  

4

(a)  

5

(a)  

6

(a)  

7

(a)  

8

(a)  

9

(a)  

10

(a)  

11

(a)  

12

(a)  

13

(a)  

14

(a)  

15

(a)  

16

(a)  

17

(a)  

18

(a)  

19

(a)  

20

(a)  

21

(a)  

22

(a)  

23

Current ratio = $$\frac{current\ assets}{current\ liabilities}\ =\ n:1$$  

(a)  

24

(a)  

25

GP% = $$\frac{Gross\ \Pr ofit\ }{Sales}$$  

(a)  

26

(a)  

27

Net Profit % = $$\frac{Net\ \Pr ofit}{Sales}\times100$$  

(a)  

28

Used stationery is recorded in the P/L account.

(a)  

29

(a)  

30

(a)  

1

(a)  

2

(a)  

3

(a)  

4

(a)  

5

(a)  

6

(a)  

7

(a)  

8

(a)  

9

(a)  

10

(a)  

11

(a)  

12

(a)  

13

(a)  

14

(a)  

15

(a)  

16

(a)  

17

(a)  

18

(a)  

19

(a)  

20

(a)  

31

(a)  

32

(a)  

33

(a)  

34

(a)  

35

(a)  

36

(a)  

37

(a)  

38

(a)  

39

(a)  

40

(a)  

41

(a)  

42

(a)  

43

(a)  

44

(a)  

45

(a)  

46

(a)  

47

(a)  

48

(a)  

49

(a)  

50

(a)  

51

(a)  

52

(a)  

53

(a)  

54

(a)  

55

(a)  

56

(a)  

57

(a)  

58

(a)  

59

(a)  

60

(a)