Mark Scheme (Provisional)

Summer 2021

Pearson Edexcel International GCSE

In Accounting (4AC1)
Paper 01 Introduction to Bookkeeping and
Accounting
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Summer 2021
Question Paper Log Number P66467A
Publications Code 4AC1_01_2106_MS
All the material in this publication is copyright
© Pearson Education Ltd 2021
General Marking Guidance

• All candidates must receive the same treatment. Examiners

must mark the first candidate in exactly the same way as they
mark the last.
• Mark schemes should be applied positively. Candidates must
be rewarded for what they have shown they can do rather
than penalised for omissions.
• Examiners should mark according to the mark scheme not
according to their perception of where the grade boundaries
may lie.
• There is no ceiling on achievement. All marks on the mark
scheme should be used appropriately.
• All the marks on the mark scheme are designed to be
awarded. Examiners should always award full marks if
deserved, i.e. if the answer matches the mark scheme.
Examiners should also be prepared to award zero marks if
the candidate’s response is not worthy of credit according to
the mark scheme.
• Where some judgement is required, mark schemes will
provide the principles by which marks will be awarded and
exemplification may be limited.
• When examiners are in doubt regarding the application of the
mark scheme to a candidate’s response, the team leader
must be consulted.
• Crossed out work should be marked UNLESS the candidate
has replaced it with an alternative response.
 SECTION A

Question Answer Mark

Number
Award 1 mark as indicated for each question.

1 The only correct answer is A Correct an overcharge on an

invoice

B is not correct because an undercharge would not require a

credit note
C is not correct because a sales invoice would be issued (1)
D is not correct because a sales invoice would be issued

2 The only correct answer is B Purchases returns

A is not correct because purchases are recorded in the

purchases day book
C is not correct because sales are recorded in the sales day book
D is not correct because sales returns are recorded in the sales (1)
returns day book

3 The only correct answer is B Credit discounts received

A is not correct because this refers to discounts allowed

C is not correct because this refers to discounts allowed
D is not correct because this should be credited to discounts
received (1)

4 The only correct answer is B Duality

A is not correct because confidentiality is a principle of

professional ethics
C is not correct because integrity is a principle of professional
ethics

D is not correct because objectivity is a principle of professional

(1)
ethics

5 The only correct answer is C Materiality

A is not correct because accruals is not relevant in this case

B is not correct because business entity is not relevant in this
(1)
case
D is not correct because prudence is not relevant in this case
6 The only correct answer is D Returns outwards

A is not correct because carriage inwards always as a debit

balance
B is not correct because carriage outwards always as a debit
balance
C is not correct because returns outwards always as a debit
balance (1)

7 The only correct answer is D Interest charged by a supplier

on late payment

A is not correct because amounts paid to credit suppliers would

appear on the debit side
B is not correct because contra would appear on the debit side
C is not correct because discount received from credit suppliers
would appear on the debit side (1)

8 The only correct answer is A Income statement

B is not correct because the balance would not appear in the

statement of financial position
C is not correct because the balance would not appear in the
trade payables ledger
D is not correct because the balance would not appear in the
trade receivables ledger (1)

9 The only correct answer is B $480 in the sales day book

A is not correct because $480 represents a sale

C is not correct because $456 incorrectly takes off the cash
discount
D is not correct because $456 incorrectly takes off the cash (1)
discount

10 The only correct answer is C Debit Drawings: Credit Bank

A is not correct because the entry must be credited to bank

B is not correct because the entry must be credited to bank
D is not correct because the entry does not affect the cash
account (1)

TOTAL FOR QUESTIONS 1-10 = 10 MARKS

Question Answer Mark
Number
11 Award marks as indicated.

Invoice
Leon
Spring Street
Newport
NP19 3HS
Phoenix No. 3240
22 Kerry Drive
Date 29 March 2021
Bradford BD8 6GK
Quantity Description Unit cost Total cost
$ $
6 Mobile phones 85.50 (i) 513.00 (1)

36 USB cables 2.20 (ii) 79.20 (1)

Subtotal (iii) 592.20 (1of)

Trade discount 25% (iv) 148.05 (1of)

Total (v) 444.15 (1of)

(5)

TOTAL FOR QUESTION 11 = 5 MARKS

Question Answer Mark
Number
12 Award marks for figures as indicated.
Award 1 mark for all correct dates and details
Rent Account

Date Details $ Date Details $

Mar 31 Bank / Cash book 3 750.00 Apr 1 Balance b/d 500.00
(1) (1)
Mar 31 Income statement 3 000.00
(1of)
Balance c/d 250.00
3 750.00 3 750.00
Apr 1 Balance b/d 250.00
(1of)

(5)

TOTAL FOR QUESTION 12 = 5 MARKS

Question Answer Mark

Number
13 Award marks for figures as indicated.
Award 1 mark for all correct details

Daya
Bank Reconciliation Statement at 30 April 2021

$
Updated balance in bank per cash book 543 (1)
Unpresented cheques 640 (1)
Outstanding lodgements (1 485) (1)
Balance per bank statement (302) (1of)
(5)

TOTAL FOR QUESTION 13 = 5 MARKS

TOTAL MARKS FOR SECTION A = 25 MARKS

 SECTION B

Question Answer Mark

Number
14(a) Award 1 mark for each correct figure on correct side as indicated.
Award 1 mark for all correct dates and details.
Cash book

Date Details Discount Cash Bank Date Details Discount Cash Bank
2021 $ $ $ 2021 $ $ $
Apr 1 Balance b/d 25* Apr 1 Balance b/d 110*
(1) for
both bals
3 Joseph 162 1 458 12 BL Council 220
(1) (1)
21 Sales 80 23 Bank 65
(1) (1)

23 Cash 65 27 Window cleaner 28

(1) (1)
30 Balance c/d 992 30 AWB 115 2 185
(1)
30 Balance c/d 12
162 105 2 515 115 105 2 515
May 1 Balance b/d 12* May 1 Balance b/d 992*
(1of) for
both bals

(10)
Question Answer Mark
Number
14(b) Award up to 2 marks for each benefit and 1 mark for a conclusion.

Sample answer

Acts as a deterrent to fraud (1) as it will be maintained by a different member of

staff to the cash book clerk (1).

Avoids overcrowding the main cash book (1) so reducing the number of entries
made by the main cashier (1).

Yes, maintaining a separate petty cash system will be beneficial to Raheem (1).

Accept any other appropriate responses.

(5)

TOTAL FOR QUESTION 14 = 15 MARKS

Question Answer Mark
Number
15(a) Award 1 mark for each figure as indicated.
Award 1 mark for all correct dates and details.
Trade Receivables Ledger Control Account

Date Date
Details $ Details $
2021 2021
1 Mar Balance b/d 56 240 31 Mar Contra/set-off 120
(1)
31 Sales day book 38 910 Cash book / Discounts 720
(1) allowed (1)
Bank/cash 410 Journal /Irrecoverable 450
book (1) debts (1)
Interest 80 Bank/cash book 44 600
charged (1) (1)
Sales returns day 1 420
book (1)
Balance c/d 48 330
95 640 95 640
1 Apr Balance b/d 48 330
(9)
Question Answer Mark
Number
15(b) Award 1 mark for each figure as indicated.
Award 1 mark for all correct dates and details.
Trade Payables Ledger Control Account

Date Details $ Date Details $

2021 2021
31 Mar Cash book/ 390 1 Mar Balance b/d 42 580
Discounts (1)
received
Bank/cash book 36 070 31 Purchases day book 32 550
(1) (1)
Purchases 1 050
returns day book (1)
Contra/set-off 120
(1)
Balance c/d 37 500
75 130 75 130
1 Apr Balance b/d 37 500
(6)

TOTAL FOR QUESTION 15 = 15 MARKS

Question Answer Mark

Number
16(a) Award marks as indicated.

Principle (1). (1)

Question Answer Mark
Number
16(b) Award marks for correct detail and amount as indicated.

Date Error Details Debit Credit

2021 $ $
31 1 Motor insurance 400 (1)
March
Motor vehicles 400 (1)

2 Suspense 90 (1)

Trade receivables (ledger control 90 (1)

account)
3 General expenses 120 (1)

Bank 120 (1)

4 Returns inwards 150 (1)

Returns outwards 150 (1)

Suspense 300 (1)

(9)

Question Answer Mark

Number
16(c) Award up to 2 marks for an advantage, up to 2 marks for a disadvantage
and 1 mark for a conclusion.

Sample answer

Ensures the arithmetical accuracy of the entries in the books (1) as both sides
must be equal (1).

However, it does not identify all types of error (1), for example an error of
principle. (1)

Jacques should continue to produce a trial balance as it is an important part of

the verification process. (1)

Accept any other appropriate responses. (5)

TOTAL FOR QUESTION 16 = 15 MARKS

Question Answer Mark
Number
17(a) Award 1 mark for identification plus 1 mark for development.

To take account of the likelihood that some debtors will not be able to pay the
amount due (1), which ensures compliance with the prudence concept (1).

Accept any other appropriate responses.

(2)

Question Answer Mark

Number
17(b)(i) Award mark as indicated.

Other payables

Other receivables  (1)

Provision

(1)

Question Answer Mark

Number
17(b)(ii) Award marks as indicated.

Other payables  (1)

Other receivables

Provision

(1)
Question Answer Mark
Number
17(c) Award marks as indicated.

Current Non- Current Non-

assets current liabilities current
assets liabilities
Other payables  (1)

Other receivables  (1)

Provision for irrecoverable  (1)

debts (3)

Question Answer Mark

Number
17(d) Award marks as indicated.

Transaction Source document Book of original

entry
Paid bank charges Bank statement (1) Cash book (1)

Returned damaged goods (Purchase) credit note (1) Purchases returns

to a credit supplier day book (1)

Purchased a new motor Invoice (1) (General) journal (1)

vehicle on credit

Payment to a supplier by Remittance advice (1) Cash book (1)

credit transfer
(8)

TOTAL FOR QUESTION 17 = 15 MARKS

Question Answer Mark
Number
18(a) Award marks as indicated.

Capital expenditure is the purchase or improvement of non-current assets (1)

whereas revenue expenditure is the day-to-day running costs of the business (1)

The benefit from capital expenditure is expected to last for more than one year
(1) whereas the benefit from revenue expenditure is expected to last
for less than one year (1).

Accept any other appropriate responses. (4)

Question Answer Mark

Number
18(b) Award marks as indicated. (Maximum 2 marks).

Wear and tear

Obsolescence
Economic factors
Time factor
Usage
Technological change (2)

Question Answer Mark

Number
18(c) Award 1 mark as indicated

Accruals (1) or Prudence (1) or Consistency (1)

(1)

Question Answer Mark

Number
18(d) (i) Award marks as indicated

$30 720 (2) or $38 400 (1)

(2)
Question Answer Mark
Number
18(d)(ii) Award 1 mark for each figure as indicated.
Award 1 mark for all correct dates and details.

Motor Vehicle Disposal Account

Date Details $ Date Details $

Dec 1 Motor vehicle 48 000 Dec 1 Provision for 17 280
2020 (1) 2020 depreciation (1of)
Cash book/ bank 14 000
(1)
Bilal 14 000
(1)
Jan 31 Income statement 2 720
2021 (1of)
48 000 48 000

(6)

TOTAL FOR QUESTION 18= 15 MARKS

TOTAL MARKS FOR SECTION B = 75 MARKS

TOTAL MARKS FOR PAPER = 100 MARKS

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