AQA-71271-Financial Accounting Marking Scheme Paper 1

Section A Answer all questions in this section. box Which of the following does not have an interest charge? [1 mark] A Bank loan B Debenture C Mortgage D Ordinary shares Which is the correct formula for trade payable days? [1 mark] Cost of Sales A Trade Payables × 365 Credit Purchases B Trade Payables × 365 C Trade Payables Cost of Sales D Trade Payables × 365 × 365 Credit Purchases 2 0 1 0 3 Do not write outside the A business has budgeted that overheads for the maintenance department will be 20% higher than last year’s figure of £15 000. Maintenance overheads are apportioned using the net book value of machinery. Department Net Book Value of Machinery A £750 000 B £450 000 Which is the correct amount for the maintenance overheads to be apportioned to department B for next year?