Cambridge & Pearson Edexcel Past Paper Questions
Browse 35,704 questions from Cambridge O-Level & A-Level and Pearson Edexcel IGCSE & IAL exams. Click any question to practice.
Where is interest on drawings entered in the accounting records of a partnership business? appropriation account partner's capital account partner...
T Limited was formed on 1 April 2019. A total of 220 000 shares of $2 each were issued and shareholders were asked to pay 75% of the share value im...
Which items would appear in the statement of changes in equity of X Limited for the year ended 30 June 2020? 1. interim dividend paid on 31 March 2...
A company's financial year ends on 31 March. On 31 March 2021 trade receivables were $45 000. On 31 March 2022 trade receivables were $41 000. An i...
A club received subscriptions from members totalling $12 600 in the year ended 30 April 2019. The following information was available. at 30 April...
Which statements about the accumulated fund of a society are correct? 1. A surplus will increase the accumulated fund and a deficit will reduce it....
A manufacturing company provided the following information. $ cost of raw materials 186 000 direct wages 75 000 machinery depreciation 45 000 fact...
Sam's work in progress was $6500 at the start of the year and $11 200 at the end of the year. When Sam prepared his manufacturing account, he forgo...
Roshan's sales for his first year of trading were $55 000. His gross profit margin was 20%. The closing inventory was $3200. What were the purchase...
Miriam does not maintain a full set of accounting records. Only the purchases for the year and asset and liability values at the year end are known...
Abhinav provided the following information. year ended year ended 31 December 2019 $ 31 December 2020 $ purchases 112 500 124 000 cost of sales 11...
Miranda's gross margin fell from 25% in year 1 to 15% in year 2. What may have caused this?
Ralph wants to compare the accounting ratios for his business with the accounting ratios of his brother's business. What would prevent Ralph from m...
Which statement correctly describes the principle of realisation?
Addo is a trader who only sells on credit. His trade receivables at 1 April 2024 were as follows: $ Nuru 920 Mahia 1145 Ava 1378 Rachel 215 3658 ...
Paul is a trader. He maintains a three-column cash book. Paul has prepared draft financial statements for the year ended 31 March 2024. Paul later...
Zahra and Panya are the shareholders and directors of Q Limited. The company directors of Q Limited have provided the following trial balance. Q L...
Ahmed owns a trading business. He prepares his financial statements to 31 December each year. Ahmed had some unused office space and he decided to ...
Stella started in business as a retailer on 1 April 2023. She sells one type of good only. She has not kept a full set of accounting records but ha...
Lottie is a trader. Her financial year end is 30 April. She keeps her petty cash book using the imprest system. The imprest amount is $150. The tot...
Toyah owns a factory which makes dolls' houses. Her financial year end is 31 January. At 31 January 2024, her ledger accounts included the followi...
Akil prepared his trial balance at 29 February 2024. The total of the debit side was $83640 and the total of the credit side was $84025. Akil late...
Tadeen and Yadid are lawyers who have been in partnership for many years. The partners provided the following trial balance at 30 April 2024. Tade...
Ajay is a retailer. He has provided the following information. At 1 April 2023 Inventory $5200 Trade receivables $6875 Cash at bank $1946 Trade pa...
Which task will not be performed by a book-keeper?
What are assets? [Table with column headers: 'amounts owed to a business', 'amounts owed by a business', 'items owned by a business']
Sammy bought goods on credit and later returned some of these goods. How would he record the returns in his books of account? [Table with column he...
An account in Peter's books of account was as follows: Rami [Table with data: bank $380, discount received $20, balance b/d $400, total $400]. Whic...
At the end of her financial year, Jasmine balanced her cash book and ledger accounts and made appropriate year-end transfers. Which statements are ...
A trader bought goods on credit from a supplier. In which book of prime entry would the trader record this transaction?
Which account balance will appear in the debit column of a trial balance?
The totals of a trial balance did not agree, and a suspense account was opened. It was later found that the total of the discount allowed column in...
After calculating his profit for the year, Yui discovered the following errors. 1 A purchase of a new motor vehicle for $3200 was debited to motor ...
Jerry received a cheque of $450 from Fatima. He entered the receipt of the cheque correctly in his cash book. The posting to Fatima's account was r...
Somraj's bank statement showed a credit balance of $740 at 31 January. Somraj compared the bank statement with his cash book and updated the cash b...
George is preparing his purchases ledger control account. Which information would he obtain from his general journal in order to do this?
Javid's sales ledger control account had a debit balance of $12000. Interest of $40 on an overdue account and also discount allowed of $150 had bee...
What is the effect of incorrectly treating expenses as capital expenditure? [Table with column headers: 'income statement: profit for the year', 'i...
Atif depreciates his motor vehicles at a rate of 20% per annum, using the reducing balance method. On 1 May 2024, Atif owned motor vehicles which h...
T Limited rents out part of its premises. At the start of the year, the tenant was $600 in arrears. During the year, T Limited received $8650 in re...
A provision for doubtful debts of 5% of trade receivables is maintained. At 1 January 2024, the provision for doubtful debts account had a credit b...
How should a business value its inventory?
Which items are shown in a statement of financial position? [Table with column headers: 'current assets', 'revenue', 'capital', 'non-current liabil...
A business provided the following information about two expenses. [Table with data: '1 January 2024 $ (electricity 240 accrued, insurance 180 prepa...
Which item is a current liability?
What is an advantage to a sole trader of forming a partnership?
Which statements are correct in relation to the financial statements of a partnership? 1 Interest on partners' capital is shown as an expense in th...
R Limited provided the following information. [Table with data: 'At 1 January 2024: ordinary share capital $350000, retained earnings $46000, gener...
A club included the balance on its accumulated fund in its statement of financial position. What is the equivalent of the accumulated fund in a sta...
Which item is included in a manufacturing account?