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.
Jane, a trader, withdrew $50 from the business bank account for office use. How is this recorded in Jane's books?
Ann is a trader. On 1 April 2011 Cindy's account in Ann's ledger showed a credit balance of $520. The following transactions took place during Apri...
A trial balance fails to agree. The credit column totals $10 000. Two errors are then found. The sales journal has been overcast by $100. Goods so...
Azad maintains a ledger account for general expenses. On 1 January there was a prepayment of $176. On 31 December there was an accrual of $212. Th...
Winston decides to write off a debt due to him from Leroy for goods sold on credit. How is this recorded in Winston's books?
Motor repairs of $250 have been posted in error to the motor vehicles account. What is the effect on the financial statements?
A machine was purchased on 1 January 2010 for $12 000. It has a working life of 8 years after which it will be sold for $2000. Depreciation is cal...
The difference on a trial balance is entered in a suspense account. A payment of $112 for general expenses had been correctly entered in the cash ...
Which total is shown by the closing balance on a purchases ledger control account?
Which affects both gross profit and net profit?
How is capital employed calculated?
Which is not a service business?
Rajid and Sunil formed a partnership on 1 January 2010 but did not prepare a partnership agreement. They provided the following information. capi...
The Sandhill Golf Club has 150 members who each pay an annual subscription of $40. On 1 January 2010 subscriptions unpaid for 2009 amounted to $48...
A football club provided the following information at the end of its financial year: rent of premises paid in advance outstanding subscriptions fr...
Tarrant produced a statement of affairs at 31 December 2009 and at 31 December 2010. During 2010 his long term loan increased by $3000 and his net...
A limited company provided the following information: $ issued share capital – 50 000 ordinary shares of $1 each 50 000 profit for the year ended ...
Which appears in the appropriation account of a limited company?
Which is a direct cost?
An employer provides each employee with a time sheet. Which statement is correct?
Jake had current liabilities of trade payables and had current assets of inventory, trade receivables and cash at bank. Which measure would improv...
An international company has prepared financial statements without including very small items of furniture in its non-current assets. Which accoun...
Applying the money measurement principle, what is recorded in a balance sheet?
A trial balance fails to agree. The credit column totals $10 000. Two errors are then found. The sales journal has been overcast by $100. Goods sol...
Azad maintains a ledger account for general expenses. On 1 January there was a prepayment of $176. On 31 December there was an accrual of $212. The...
Winston decides to write off a debt due to him from Leroy for goods sold on credit. How is this recorded in Winston's books? account to be debited ...
Motor repairs of $250 have been posted in error to the motor vehicles account. What is the effect on the financial statements? profit for the year ...
The difference on a trial balance is entered in a suspense account. A payment of $112 for general expenses had been correctly entered in the cash b...
The Sandhill Golf Club has 150 members who each pay an annual subscription of $40. On 1 January 2010 subscriptions unpaid for 2009 amounted to $480...
A football club provided the following information at the end of its financial year: rent of premises paid in advance outstanding subscriptions fro...
Tarrant produced a statement of affairs at 31 December 2009 and at 31 December 2010. During 2010 his long term loan increased by $3000 and his net ...
Joe's business had the following assets and liabilities on 31 March 2011: $ Non-current assets 120000 Liabilities due within one year 25 000 Curren...
Kya is a wholesaler. She prepares control accounts at the end of each month. The following information relates to the month ended 30 April 2011. S...
Choong and Tan are partners sharing profits and losses in the ratio 2:1. Interest is allowed on partners' capital at the rate of 5% per annum and T...
George is a trader who buys and sells goods on credit. He provided the following information: For the year ended 30 April Sales Gross profit Expen...
Yip Sin is a manufacturer. The following balances were extracted from the books on 30 April 2011. $ Inventory at 1 May 2010 Raw materials 20 900 W...
Mohan is a trader. On 24 April 2011 he had a bank overdraft of $150. The following transactions took place during the week ended 30 April 2011. A...
Amayi owns a manufacturing business. Her financial year ends on 30 April. She has the following depreciation policy: Machinery is depreciated at t...
Tanvir does not keep a full set of double entry accounts. The following information is available for the year ended 30 April 2011. Summarised Ban...
Mary is in business buying and selling goods on credit. The following information was available at 30 April 2011. Inventory 1 May 2010 $5 500 Inve...
Fu, Li and Yang are partners in a retail business. The partnership agreement states that they share profits and losses in the ratio 2:2:1. Interest...
Which statements about book-keeping and accounting are correct? 1 Accounting is performed periodically rather than daily. 2 Accounting relies on ha...
Padma started a business on 1 April 2011 with $30 000 of her own money. On 31 March 2012 her assets and liabilities were: $ machinery at net book v...
Chan returns goods to Yeung. How is this recorded in the books of Yeung?
Winston sold goods on credit to Leroy. Which entries should Winston make in his ledgers?
Which book of prime entry is written up from the copies of credit notes issued by a trader?
Dave supplies goods to Peter on credit. On 1 April, Peter owed Dave $440. Dave sent or received the following documents in April. $ April 7 Invoice...
Tahir purchases goods on credit from Yasmin. How will Yasmin record this?
A company began trading on 1 January 2012. During that month, the following transactions took place. received capital from shareholders, $10 000 re...
Which is true about a bank reconciliation statement?