2013 GCE N Levels Principles of Accounts (POA) Suggested Solutions!

image: Class in accounting at Mary (sic) Morrison Carnegie School, Pittsburgh, PA

Heyo N Levelers!

Congratulations on completing your entire N Level exams!

Every year, I try out the N Level papers for my students and since I’m doing that, I thought it’d be fun to hear your views and responses.

This year’s paper is amazingly easy (which means the bell curve could be punishing). I’ve indicated my views on parts which I think has contestable responses in red. Teachers/tutors/students, let me know what you think!

When you are ready, right click and choose “Save As” to download:

7092/01/ 02 GCE N’ Level Principles of Accounts 2013 Suggested Solutions

Frequently Asked Questions:

Q: Can you upload the question paper for Paper 1

A: Question papers cannot be uploaded due to copyright reasons. I may be arrested and never to be able to upload anything in future

Q: My presentation is this like my school teacher says, it differs from your answers – will I be marked wrong by Cambridge?

A: Well, in the final analysis – I’m not the examiner/guru/genie. This set of suggested solutions serves as a point of reference, not the absolute answers.

Q: I noticed that you made a mistake in the solutions. 

A: That’s why I put it up here for you to make comments. Help me better it that all of us can benefit. I’ll update and upload the new version(s) if there is a need. 🙂

When you are ready, right click and choose “Save As” to download:

7092/01/ 02 GCE N’ Level Principles of Accounts 2013 Suggested Solutions

Oh yes,

If you are doing O Levels this year, we still have space for our annual crash course. Do join us if you need a push for the final paper on 7 Nov. 🙂

Cheers,

Caleb

 

  • Kel

    Shouldn’t the current account only for Theo?

  • Kel

    Thanks anyway for the upload of the answers!

  • Aaron Yeo

    Hi Caleb, thanks for uploading the answers:
    I got 2 queries for Paper 1:
    1. Q1: Cashed cheque for wages: Can the answer be just writing Wages on the credit side and put under Bank column? Since both Cash and Bank cancel out?

    2. Q3b): Shouldn’t OE for 2013 be no effect since effect on GP for 2012 and 2013 cancel out each other?

    Thanks!

  • calebho

    Yes, Kel. I was too enthusiastic.
    Haha. Thanks for your input!

    Will update the solutions!

  • calebho

    The pleasure is mine! Thanks for your feedback. 😀

  • calebho

    Hi Aaron,

    Thanks for your comment!
    Here’s my thoughts:

    1. If you write Wages on the credit side of the bank column, it effectively means that the wages were paid by cheque, which is not true. So I can’t agree.

    2. Absolutely. You are right. For Q3b, I had a concerned visitor who called me last night and told me about it. Yes. They cancel out each other. Very sharp eyes. Will update this version when there’s more comments coming in. 🙂

    Much appreciation, Aaron!

  • Aaron

    Thanks Caleb!

  • Lalalala1234

    Do u have the solutions for question 3e f g- paper 2

  • Kel

    Would be glad if u could upload that too! 🙂

  • calebho

    Ah. I missed that. I’m updating the solutions on Wednesday (1 week since the 11 Oct paper) to include all the changes and this one. 😀

  • Jacky Chun

    Hi,in paper 1 q3b, was the question asking for the effect of correcting the error or the effect of the error? Thanks in advance 😀

  • calebho

    Hi Jacky Chun,

    The question asked for the effect of the error, not for the correction of error. 🙂

    U r very welcome! 😀

    Caleb

  • Aaron

    Hi Caleb, are u still sharing the updated answers?

  • Amy

    Are there any websites besides this, where i’m able to get 2013 N’lvl answers ???

  • Poa4ever

    Paper 2 question 1c… why isnt it LTL? I counted the number of months.. it is 12 months. I thought loan which is repayable in 1yr/12mths is considered LtL..

  • lala12345

    LTL is a loan longer than a year .

  • poa4eva

    Paper 1 q 3b NP 2012 is affected or no effect?

  • SchoolTeacher

    For Paper 1 Q1, it is very straightforward, DR Wages, CR Bank (Aaron you are right). In this case, the Cash account is not affected at all as Cash account controls money kept at the office. This transaction is between the physical cash at the Bank (not at the office) being withdrawn to pay for Wages.

    Thanks Caleb for preparing the answers and making the necessary amendments for the benefits of our students.

  • calebho

    thanks for your input. 🙂
    it’s a collective effort to make this platform a useful one. happy to facilitate this.