Use this ZIMSEC O-Level Principles of Accounts Paper 3 June 2018 marking scheme for checking answers, revision, and exam preparation in Zimbabwe.
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This is the ZIMSEC O-Level Principles of Accounts marking scheme for Paper 3 from June 2018. It shows how marks are awarded, so you can mark your own answers.
4
Question 1
(a) (i) Profit and loss appropriation account (Option I)
\begin{table}
Net profit (68000) + 28000 ) | 96000101045 号
Less: Interest on loan | g (火) (1) \& 48.
Annual salary | 16298161948.
| 24 000
| 72 (00)
Share of profit to be received by each partner I. | 2Lexidid res.
H | 2400011905.
D | 24998110065.
| 22000?
\captionsetup{labelformat=empty}
\caption{[6]}
\end{table}
(ii) Profit and loss appropriation account (Optien 3 ) award Krzd[6]
Net profit
Less: Interest on capital L
H
D
B
Salaries: Bongo
Share of profit to be received by each partner $L$ H
D
B Total benefits for each partner
not
pregent
Che to
Che to
Lerumo
Hope
Dillon
Bongo
\[
5600(1)+18060(1)=23660(2)
\]
\[
4400(1)+18060(1)=22460(2)
\]
\[
4400(1)+12040(1) \approx 16440 \quad(2)
\]
\[
6400(1)+12040+15000(1)=32440(2)
\]
[8]
(b) based in (a)
Comporson of $1 \neq 2$
| Lerumo | Hope | Dillon | of
Option 1 | 24000 | of | 24000 | of | 24000
Option 2 | 23600 | or | 22460 | or | 16440
| $340(1)$ | $1540(1)$ | $1560(1)$
of in rartature form(possesge) awad 3 morks
Option 1 is better because each penter's profit will increase (1). The partners should
[5]