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.
Which will be included in this year's receipts and payments account? 1 depreciation of sports equipment 2 subscriptions prepaid at end of year 3 su...
A business provided the following information. | | $ | |---|---| | inventory at 1 January 2012 | 6800 | | inventory at 31 December 2012 | 6000 | | ...
At the end of its first year of trading, Sinola Ltd transferred $10000 to a general reserve. In which of the company's financial statements will th...
Satnam is a gardener and is paid on a time basis. He works a different number of hours each day. What should Satnam complete to enable his employer...
A business provided the following information for the year. profit for year: $24 000 expenses: $16 000 gross profit/sales percentage: 20% What were...
A trader decided that office equipment costing less than $100 would not be regarded as a non-current asset. Which accounting principle is being app...
What is ensured by applying the principle of consistency?
A customer received an invoice for $98 for goods priced at $88. Which document will the customer use to inform the supplier of this error?
Sue allowed Jane a discount for prompt payment. How would this be recorded in Jane's books?
A business's bank statement showed an overdraft of $8500. A cheque, $400, paid to a supplier has not been presented for payment. What will be the b...
The following partly-completed account appeared in Edward's sales ledger. Ann account 2013 debit $ credit $ balance $ Jan 4 sales 21500 11 sales re...
On 1 January 2012 Ahmed's rent receivable account had a credit balance of $160. On 31 December 2012 he transferred $1800 from the rent receivable a...
Bashir maintains a provision for doubtful debts of 3% of the trade receivables at the end of the year. On 31 December 2011 trade receivables amount...
Candy purchased a motor vehicle. She also paid for the cost of delivering the vehicle, insurance and fuel for the vehicle. Which would be included ...
James was late paying an invoice issued by Henry. Henry charged James interest on the overdue amount. Which entry would be made in Henry's control ...
Fatima opened a department store on 1 January 2012. She provided the following information on 31 December 2012. department X $ department Y $ reve...
Which statement describes a non-current asset?
Khalid sells two types of goods. He provided the following information at the end of his financial year. cost per unit selling price per unit ty...
Melissa made payments to the following suppliers. Which suppliers is a service business?
A trader took goods for her own use. How should this be recorded?
A social club was formed on 1 January 2012. During the year ended 31 December 2012 members paid subscriptions totalling $1800. Subscriptions outsta...
Karnail does not keep a full set of accounting records. Which is not used to calculate his total credit sales?
Owusu Ltd was formed with an authorised share capital of 1000000 ordinary shares of $0.80 each. It issued 60% of these on 1 April 2013, with half t...
How is the cost of production calculated?
On 28 February the statutory deductions account had a credit balance of $2700. Statutory deductions during March amounted to $1800. The amount due ...
Which is used to calculate the current ratio but not the quick (acid test) ratio?
The financial statements of a trader include wages paid to employees. The skill and expertise of the employees is not included. Which principle is ...
A business depreciated machinery using the straight line method in year 1 and the diminishing (reducing) balance method in year 2. Which accounting...
Mary started business on 1 January 2012, renting premises at $12000 per annum, paid by instalments on the first day of January, April, July, and Oc...
The following are some of the transactions carried out by Tay, a retailer, during April 2013. (i) Paid insurance $470 by cheque. (ii) Sold goods o...
The following balances were extracted from the books of Alex Penn on 31 March 2013. $ Equipment (net book value) 40000 Delivery vans (net book val...
On 1 April 2011 Lynne purchased two motor vehicles for business use on credit from Villa Motors Limited. The vehicles cost $12000 each. Depreciati...
The following balances were extracted from the books of Paul Lee, a manufacturer, on 31 May 2013. Capital $220000 Drawings $10800 Factory machiner...
Jamie provided the following information on 1 May 2012. Non-current assets at net book value $14000 Trade receivables $3012 Trade payables $1298 Pr...
John Given’s trial balance at 31 May 2013 failed to agree and a suspense account for the difference, $926 debit, was opened. The following errors w...
The following is an extract from David’s wages book for January 2013. Wages book Employee Number Gross pay $ Tax $ Employee’s Social Security Contr...
Baljit provided the following information for the year ended 30 April 2013. $ Inventory 1 May 2012 14841 Inventory 30 April 2013 21159 Cost of good...
The following balances were extracted from the books of Patricia Chin on 31 March 2013. $ Premises 67000 Fixtures and fittings (cost) 20000 Motor v...
Why does a trader prepare a statement of financial position?
Which statement about a computerised accounting system is correct?
Which is a liability of a business?
A business bought a computer for office use and paid by cheque. How will the business record the transaction?
Abdul sold goods on credit to Zaffar. Which entries will Zaffar make in his ledgers?
A business provided the following information for March. credit notes issued $2000 debit notes received $1000 payments received from credit custome...
Fatima returned goods to Youseff. How would this be recorded by Youseff?
Melissa transferred $5000 from the bank deposit account to the bank current account on 1 May. On the same day she received a bank loan, $10000, whi...
Ali allows Yasmin a trade discount of 20%. Yasmin returned goods to Ali with a list price of $980. How is this recorded in Ali's books?
The total of the credit side of a trial balance was $9000 more than the total of the debit side. Which error has been made?
On 1 January the motor expenses account had a credit balance of $135. During the year payments of $462 were made. On 31 December $74 remained unpai...
Andrew issued an invoice to Edward for $1000. After receiving 50% of the invoice value from Edward, Andrew decided to write off the amount outstand...