2013 POA Suggested Solutions for Paper 2!

Hi there!

For those who have put in your fair share of labor, I hope today’s paper was easy for you. ๐Ÿ™‚ This year, we have a lag with sources for Paper 1. We will put up the suggested solutions for P1 ASAP. If you are looking for it, head straight below, read the FAQ section and download your answers for review.

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To my 2013 students, I just want to say thanks for making this year one of the most enjoyable and memorable moments in my teaching career.

You’ve been such a delightful and fun cohort to teach. What a privilege it is to share moments with you in the classrooms and outside of them.

They are memories I’ll have with me for a long time. I’m grateful for the sense of joy and anticipation every time I am in the class and I’m so happy to see so many survive my very bad jokes.

Look forward to see you make good of the learning experience we had together (POA or not) and may you excel tremendously in whichever industry you set your eyes on.

I’ll miss you sorely. ๐Ÿ™‚

Your partner in crime,

Caleb

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Frequently Asked Questions

Q: Can you upload the question paper for Paper 1?

A: No, unfortunately. Question papers cannot be uploaded due to copyright reasons. Authorized publishers will make these available at all major bookstores from Feb 2014 onwards.

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

A: Iโ€™m not the examiner/guru/genie. This remains as suggested solutions and serves as a point of reference.They are not absolute answers. We can discuss who’s right and wrong till the cows come home but it’s decided by the all-power examiner. ๐Ÿ™‚

Q: I noticed something is wrong with your answer. Did you make a mistake?

A: Well, the mistake could be mine. In fact, assume it’s mine. ๐Ÿ™‚

Thatโ€™s why I put it up here for discussion. Help better it that all of us can benefit. Tell us your thoughts in the comments section below. Iโ€™ll update and upload the new version(s) if there is a need. ๐Ÿ™‚

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When you are ready, right click and choose โ€œSave Asโ€ to download:

7092/02 GCE Oโ€™ Level Principles of Accounts 2013 Paper 2 Suggested Solutions

Again, we will upload the answers for Paper 1 as soon as we can. ๐Ÿ™‚

Update 1:

8 Nov, 9:48a.m -Solution update:

Adrian Chiam pointed out that insurance expenses was for 15 months. (Thanks)

22 Nov, 5:42p.m

Solutions revised! Credit goes to:

Joshua Ng, Jun Hong, poastudent, Tim, Qq, Green, Chloe and the community on PrinciplesofAccounts.com.sg!

Comments are closed at this time. Check back soon!

  • Chloe

    Yeah thats why. Was in a dilemma when doing that question. Thanks for answering anyway ๐Ÿ™‚

  • poastudent

    Oh I just saw your reply to someone below that you were going to update it. Ignore me, sorry. ( and my phone tends to put a fullstop behind every word and please.ignore that “link” too haha)

  • Hi

    Hello Caleb! Just asking when are you going to upload the answers for Paper 1? ๐Ÿ™‚

  • Joshua Ng

    For Question 2a) Part 1 , it should be DR Debtor Kim and CR Bank instead of your updated answers of DR Kim CR Debtor which is the same thing .

    For part C) , Shouldn’t it be Purchase of Fixed Asset ON CREDIT , because if it is bought by Cash or Cheque it will go into the Cash Book

  • Barney

    Hello Caleb, If i accidentally calculated the prepayment of insurance wrongly and input $480 instead of $240 in both my T,P&L and my B/S, how much marks would I likely loose? Thanks in advance! (:

  • Jason

    Hi Caleb , may I ask for the additional information it says general expenses inclusive of insurance of $1200. Can I minus 1200 from the general expenses and put insurance in my p &l ??

  • KunYou

    How many marks deducted?half mark per date?or what?

  • colin

    caleb.. did u even check your work or in the case review the answers before publishing? there s calculations errors in the balance sheet p and l.. the balance figure is also wrong.. I mentioned before that the assessment book u published has a ton of errors.. by trying to make money out of students , u provide them with the wrong answers and solutions… I will report your book to popular and have them remove it from the shelves

  • calebho

    Thanks for your input, Joshua! will include changes from your contributions. ๐Ÿ™‚

  • calebho

    I do my best. My source might be able to secure the paper on Monday. I’m traveling at this point. Will do my best to up the solution soon. ๐Ÿ™‚

  • calebho

    Hi Weiun, I think that answer is just rephrasing the question – they want to find out what these ‘other transactions’ are.

  • calebho

    hi colin, i’m happy to sense your strong passion from the comments from the fact that you are willing to make the effort to repost your comment here.

    Your strong conviction that students get access to quality learning materials is aligned with ours. We can also accept that the book is not free from errors and thank you for the feedback. This is why despite the risk, we put up suggested solutions for mutual learning, leaving comments open for critic and revise the solutions them along the way – all gratis.

    Currently, we are working to get the distributor and retailers on a new guide book, both to replace the current version and also to cover the changes with the upcoming new syllabus. We’d love to have your input on the new one. Let us know how we can involve you to make this better for us all.

  • calebho

    Whar… Jason… I’m not too sure. Effectively not wrong but adjusting question 4 said “*INCLUDED* in the general expenses…” minus would mean you excluded by reclassifying insurance as an additional item.

  • calebho

    Not a question I’d like to respond to, Barney… I’m not the examiner/genie in the bottle.
    My guess is between 1-2 marks. but that’s anyone’s guess. ๐Ÿ™‚

  • calebho

    me not genie, can’t say for sure. but i do think there is a cap for deductions for wrong dates in each question.

  • colin

    u dun need to be a genie in the bottle.. all u need is to understand their marking system

  • Joshua Ng

    I really hope students like me can see the correct answers .. so sorry if i post your mistakes again :l

    1) Question 1 : Profit & Loss A/C – General Expenses is 41537 instead of 41 237 . Total Expenses is 71 968 instead of 71 908
    Balance Sheet : Closing capital should be 122176 instead of 122 236 .
    TOtals of current assets is 30 346 instead of 30 406
    All this are calculation errors.

    2 ) Your general journal the should be Debit Credit , not Credit Debit , i am referring to the headings.

  • Barney

    Thanks for the guide! (: I totally understand, Cheers! (;

  • Sharon

    Have you got paper 1 already?

  • Jun Hong

    Hi, can I clarify something with you? It’s because I browse through the answer for paper 2 and spotted a calculation mistake in the P/L account. No offense ๐Ÿ˜ฎ For the general expenses, it stated (41,777-(3/15*1200)=41,237, but in actual fact, it is $41,537. Error of original entry ๐Ÿ˜ฎ Thus, the balance sheet is not balanced.

  • iDestroyColinFaces

    colin stfu mumless dog

  • joey

    for question 2c i wrote any transactions that doesnt goes into the specialised journals and cash book instead of specific transactions like disposal will i still get the mark?

  • KunYou

    Hello,Just to check for the use of general journal,Can I say to Record opening and closing Entries?

  • KunYou

    And for 3b and 3c,If I write working capital ratio instead of current ratio,Then Is it the same?