JUNIOR COMMERCIAL EXAMINATION PAPERS, 1905. COMMERCIAL ARITHMETIC. A. i. Mental Arithmetic. Time: fifteen minutes. [The working of these questions is to be done without the use of pen, pencil, or paper. The answer to each is to be set down in the place allotted to it on this sheet. If anything, other than the answers, is set down, the candidate will lose marks.] 1. Add the following numbers, horizontally arranged: (a) 84321, 16927, 45852, 69373, 55468 (b) 72, 9855, 699, 7676, 35841, 932 (c) 28756, 984, 5975, 39659, 478, 9893 (d) 76-455, 89-32, 7·09, 85-4, 7-671, 89-45........ (e) 786, 7·08, 13.625, 893, 99.54 2. Cast the following columns separately, and crosswise, giving also the grand total: 4. Interest on £79 for 5 months at 5 per cent. per annum. Ans.. 8. Capacity of cubical tank in gallons, tank measuring 6 ft. each way. Ans...... 9. 15 cwts. 3 qrs. 18 lbs. at 3s. per cwt. 10. Area in square feet of rectangle 8 ft. 9 in. by 7 ft. 3 in. Ans..... B. Bookwork. Time: two hours and a half. 1. Make out an invoice of the following items: 1,275 ft. of stringybark quartering at 8s. per 100 lineal ft. 780 split gum posts at 42s. per 100. 458 split stringybark rails at 41s. per 100. 750 iron standards, each weighing 3 lbs. 3 ozs., at £9 5s. per ton. 680 sheets of galvanized iron, running 120 sheets to the ton, at £16 10s. per ton. 2. Find to the nearest penny the cost of 35 tons 4 cwts. 3 qrs. 9 lbs. at £4 13s. 4d. per ton. 3. A manufacturer fixes the prices in his printed catalogue at 65% above the cost of manufacture. For cash payment, however, he allows a discount of 5% on the catalogue prices. On other sales he accepts 3 months' bills for the full catalogue prices, but gets the bills immediately discounted with bank interest at 3% per annum. If cash sales equal the others in value, what percentage of profit does he make in all? 4. 48 tons of copper ore are mixed with 24 tons of another ore containing 4 % of copper. The mixture contains 3% of copper. What percentage of copper is contained in the first lot? 5. A, B, and C are partners in a business in which A has invested £1,250, B £3,400, C £4,200. For acting as managing director A receives 15 % of the total profits, and the remainder is divided in the proportion of the capital invested. What will each receive out of a total profit of £1,120? 6. A bankrupt's assets amount to £1,420, together with an undiscounted bill of £420 due 4 months hence at 4 %. His liabilities are £3,250, and of these the amount of £234 has to be paid in full. What dividend can be declared among the remaining creditors? 7. Water flows into a rectangular tank 6 ft. x 4 ft. x 8 ft. through a pipe 1 inch in diameter with a velocity of 6 ft. per second. How long will it take to fill the tank? 8. A man has three-fourths of his capital invested in 3% stock at 105 and the remainder in 3 % at 96. He sells out of the 3% and invests the whole in the 3 per cents., with the result that he increases his income by £6. What is his total capital? COMMERCIAL GEOGRAPHY. Time: two hours. 1. What are the chief lines of electric communication between Australia and other parts of the world? 2. What cargoes do the German lines of steamers carry to and from Australia? 3. Write an account of the Murray basin showing its commercial value, and illustrate your answer by a sketch map. What are 4. Where are the following articles produced? they used for? What countries chiefly consume them? Tobacco, cod, kauri gum, sulphur, nickel, beet, cinchona, platinum. 5. What were the principal results of the Turks blocking the overland trade routes from India to Europe in the fifteenth century? 6. Name the great wheat-producing countries, and state their comparative advantages and disadvantages for the development of that industry. 7. On the accompanying map certain towns are marked by numbers. State their names and for what they are important. BOOK-KEEPING. Time: three hours. 1. A merchant, on the 14th October, 1905, accepted from A. & Co. £45 in settlement of an account of £46 4s. 3d., from B & Co. £16 in settlement of an account of £16 10s. 4d., and from C & Co. £26 10s. in settlement of an account of £27 4s. 6d. His only other receipts for the day were £37 6s. 4d. for cash sales. His purchases for the day were, from D & Co., goods for £120, and he was told that if he paid cash he should receive a discount of 10%, which offer he accepted; also goods for £50 net cash were purchased by him from E & Co. The same day his bankers collected for him a bill due amounting to £74, and paid one of his acceptances for £88. All receipts were paid into the bank, and all payments were made by cheque. The next morning the Cashier wrote up the Cash Book as usual on receiving the Pass Book from the bank. Show the Cash Book for the day's entries. 2. (a) Explain shortly the theory and objects of Double Entry Book-keeping. (b) What is a Nominal Account, and how is it closed? 3. The Capital of three Partners, A, B, C, in a manufacturing business on the 1st January was £25,000 of which A owned one-fifth, B two-fifths, C two-fifths. Each Partner was entitled to Interest on his Capital at the rate of 5% p.a. A's drawings during the year were £1,500, B's drawings were £1,000, and C's £2,000. No Interest to be charged on drawings. The net profit for the year after charging Interest on Capital was £4,250, which is to be divided between the Partners in the proportion of their Capital. Write up each Partner's Capital Account, showing the balance thereof at the end of the year. 4. The following particulars of the Assets and Liabilities of A.B at 31st December are given you with instructions to open a Double Entry Ledger therefrom by Journal Entry. Overdraft at Bank, £232 2s. 3d.; Cash at Office, £17 1s. 9d.: Stock of Goods, £1,800; Bills Payable, Nos. 23, 24, £418 14s. 8d.; Bills Receivable, Nos. 37 to 39, £846 12s. 11d.; Mining Shares valued at £1,534; Dr. in account, H. Greenway, £157 Os. 7d.; Cr. in account, T. James, £219 4s. 6d. |