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.
A balance sheet included non-current assets at cost less depreciation. Which principle was being applied?
Abdul applies the accounting year principle. Why does he do this?
Mary buys goods on credit from Kim. Mary receives 14% trade discount on all purchases and takes advantage of the 5% cash discount offered for payme...
Raja supplied the following information relating to her trade receivables before the preparation of the income statement for the year ended 31 May ...
Rod's trial balance at 30 September 2013 failed to agree. REQUIRED Rod later discovered the following errors: 1 the sales journal had been over a...
Wenger's trial balance on 30 April 2013 was as follows: Trial Balance at 30 April 2013 Account Debit $ Credit $ Bank 1750 Capital 113500 Cash 250 I...
Genet and Vass are in partnership. The following balances were extracted from their books on 31 January 2013. Capital accounts 1 February 2012 $ Ge...
Kulbir commenced trading on 1 January 2013 with cash $350, bank $3000, motor vehicle $6500 and a loan from Sanjay of $5000.
Ann buys and sells on credit. She supplied the following information for the month ended 31 May 2013. 2013 $ May 1 Trade receivables 5687 31 Cred...
The receipts and payments account of Brown Lane Rovers Football Club for the year ended 30 June 2013 was as follows. $ | $ ---|--- Balance b/d 45...
Shaw's accounting year ends on 30 April. The following information is supplied for 2011, 2012 and 2013. | | 2011 | 2012 | 2013 |---|---|---|---| |...
Cain and Les are in partnership providing book-keeping and general administration services to small businesses. They share profits and losses in th...
Which are reasons for a trader measuring his profit or loss? 1 to calculate the expenses of running the business 2 to calculate the return on his ...
Karen borrowed $80000 from her father and obtained a bank loan, $6000 in order to start a business. She bought premises, $120000, equipment, $22000...
Andrew purchased a motor vehicle on credit from Claude Motor Company. How would Claude Motor Company record this?
Which document will a customer issue to inform a supplier of an overcharge?
Where are the totals of the purchases returns journal and the sales journal posted?
On 1 September Wayne sent a cheque to his credit supplier, John. This was correctly entered in John's books. On 10 September the cheque was returne...
A business received its bank statement showing the closing balance as $8500 overdrawn. It was found that unpresented cheques amounted to $2000 and ...
The following account appeared in a trader's ledger. Rent and rates account May 1 balance b/d $1650 31 bank $650 May 1 balance b/d $650 31 incom...
The purchase of photocopier paper has been debited to the office equipment account. Which type of error is this?
Liam rents premises from Gavin. In December Liam paid the rent in advance for January and February. How would the balance on 1 January appear in th...
The cost of a motor vehicle was debited to the purchases account in error. What is the effect of this on the profit and assets?
How will the annual depreciation charge on a non-current asset be recorded?
An invoice for $200 from PJ Motors for motor repairs was credited to the motor vehicles account and debited to PJ Motors' account. Which journal en...
A trader provided the following information. 1 March purchases ledger control account balance $4000 31 March purchases journal total $53000 purcha...
Which item affects gross profit?
A trader provided the following information. non-current assets $40000 inventory $10000 trade receivables $8000 cash at bank $15000 trade payables...
A trader took goods at cost price for his own use. In which account would he make a credit entry?
X and Y are in partnership with capital contributions of $50000 and $30000 respectively. The partnership agreement provides that profits are to be ...
On 1 January a sports club's subscriptions account had a debit balance of $500. During the year subscriptions received amounted to $6000. Subscript...
A trader provided the following information for September 2014. opening trade payables $40000 cheques paid to credit suppliers $220000 purchases o...
What is net pay?
How is rate of inventory turnover calculated?
A trader provided the following information. inventory $60000 trade receivables $39000 cash $-1000 $100000 trade payables $18000 bank $62000 $80 0...
'A business will continue to trade in the foreseeable future.' Which accounting principle is described by this statement?
A business applies the money measurement principle. What would be included in the financial statements?
A trader purchased a motor vehicle for his business using a cheque from his personal bank account. How is this recorded in the books of the business?
Arnold's ledgers contain an account for Jim, a credit supplier, and a purchases account. In which ledgers will these accounts appear?
Abdul sells goods to Rekha on credit. The goods are damaged in transit. Which document will Rekha send to Abdul?
Logan records his sales invoices in a sales journal. What happens at the end of the month?
Zaffor sold $300 of goods to Yasmin on credit. Zaffor prepared an invoice but posted it as a credit note. Which entry will Zaffor make to correct t...
On 15 April, Kalou made the following entries in his accounts. debit bank account $228 discount allowed account $12; credit Droghba account $240. W...
What is the purpose of preparing a trial balance?
After preparing a trial balance the following errors were discovered. Error 1: Goods returned to Ken Loo had been debited to Ken Lao. Error 2: Repa...
On 1 January 2013 advertising of $120 was prepaid. During the year $1280 was paid for advertising. On 31 December 2013 an amount of $960 was transf...
The difference on a trial balance was posted to a suspense account. It was later found that a cheque for $800 paid to Rafiq, a supplier, had been e...
A trader provided the following information. 1 March purchases ledger control account balance $4000; 31 March purchases journal total $53000; purch...
Which item is an intangible non-current asset?
Candy and Abel are in partnership. Abel made a loan to the partnership. How will the annual interest on the loan be recorded?