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.
On which side of the following accounts would an entry be made to transfer the total of the account to the income statement at the end of the finan...
Which appear on the debit side of a trial balance? 1 assets 2 capital 3 expenses 4 revenue
A trial balance fails to balance. Which error caused this?
A trader pays rent for premises. How is the rent accrued at the end of the financial year shown?
Ajay maintains a provision for doubtful debts of 3% of trade receivables. On 1 January 2011, the balance on the provision for doubtful debts accoun...
Which are revenue expenditure for a motor vehicle dealer? 1 advertising costs 2 extension to premises 3 purchase of cars for resale 4 purchase of c...
A book-keeper opened a suspense account. Which type of error had been made?
A book-keeper made two errors. Repairs to machinery were debited in the machinery account. Purchase of a motor vehicle was debited in the purchases...
Which is recorded on the credit side of a purchases ledger control account?
The debit balance on the sales ledger control account on 1 August was $8260. The total of the sales journal on 31 August was $26 840 and the total ...
On 1 January 2011 Kim's net assets totalled $70 000. On 31 December 2011 they totalled $55 000. During the year he had withdrawn $4000 for personal...
On 30 September 2012 a business had an inventory of goods for re-sale which had cost $23 000. This included goods costing $1000 which were damaged ...
Interest on capital and interest on drawings compensate which partner?
Which may be included in an income and expenditure account?
What is a statement of affairs?
A limited company provided the following information. 1 January ordinary shares of $1 each $200 000 1 January retained earnings $12 000 31 December...
What is the main purpose of a clock card?
Wang provided the following information. revenue $32 000 cost of sales $20 000 opening inventory $7 000 closing inventory $5 000 What was the rate ...
A trader decided that all items of office equipment costing less than $500 would be treated as office expenses in the year of purchase. Which accou...
Waheda updated her information and communications technology equipment and sent her employees on a training course. Applying the money measurement ...
For which purpose does a sole trader not use the information provided in his financial statements?
Sara had the following assets and liabilities on 1 August 2012. non-current assets $44 000 non-current liabilities $10 000 inv...
On 1 January Tan, a sole trader, lent Chan $4000. On 1 November Chan repaid part of the loan leaving an amount outstanding of $1000. Which entry wa...
What is the purpose of an invoice?
Daniel allows Joanne trade discount of 25% and cash discount of 5% if invoices are paid within 30 days. Joanne purchased goods with a list price of...
On 30 March the bank columns of a cash book showed an overdraft of $1860. On 31 March the following transactions took place. paid cash into the ban...
A bank reconciliation statement starts with the balance in the cash book. It includes uncredited deposits and unpresented cheques. It also includes...
On 2 October Nina received a cheque from Zaffar, a credit customer. On 12 October the cheque was returned unpaid by the bank. Which entry would Nin...
The following account appeared in Amna's ledger. Syed account date details debit $ credit $ balance $ 2012 Sept 1 Balance b/d ...
Which error would not be revealed by a trial balance?
Alice sublets part of her premises to Mandy. At the end of the financial year Mandy owed $100 rent to Alice. How would this appear in Alice's ledge...
Which entry is made to record a decrease in a provision for doubtful debts? debit credit A income statement ...
A wholesaler had the following transactions. sold goods, $30 000, on credit received cheque, $12 000, from sale of old fixtures at book value How w...
The purchase of a motor vehicle was wrongly recorded as motor expenses. What is the effect of this error?
What is the reason for charging depreciation on a non-current asset?
Which entry is required to record the annual depreciation charge on machinery? debit credit A income stateme...
Why is a sales ledger control account usually prepared by a more senior member of staff than the person who maintains the sales ledger?
Henri has charged Thibault interest on his overdue accounts. Where does this interest appear in Thibault's control accounts?
A trader provided the following information. cost of sales $70 000 expenses $8 000 profit for the year $14 000 What was the revenue?
Nirmal, a business consultant, provided the following information. profit for the year $23 400 rent received from tenant $1 520 general e...
A rent account showed a debit balance of $2000 on 1 January 2011. Rent paid during the year ended 31 December 2011 was $12 000. Rent prepaid at 31 ...
Which group contains only advantages of being in partnership?
A partner is entitled to interest on his capital. How is this recorded in the personal account of the partner?
The financial year of a sports club ends on 31 December. Members' subscriptions received during 2011 were as follows. for the year ended 31 Decembe...
Donald's rate of inventory turnover was 10 times. The inventory on 1 January was $800 and the inventory on 31 December was $1000. What were his pur...
The issued share capital of DX Ltd consists of ordinary shares. The retained earnings were $45000 on 1 January 2011. These had increased to $75 000...
Which are statutory deductions from an employee's gross pay?
What is not included in the calculation of the quick (acid test) ratio?
The cost of the owner's personal use of business motor vehicles is excluded from the motor vehicle expenses. Which accounting principle is being ap...
The following balances were taken from the books of Asir on 1 July 2012. Stationery Rapid Office Supplies $ 60 Dr 400 Cr The following transacti...