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.
The following balances were extracted from Sabeena's books on 31 December. $ non-current assets 65000 current assets 13000 current liabilities 900...
A sports club provided the following information. $ subscriptions received during the year 12000 subscriptions owing at the start of the year 1200...
The statement of financial position of a sports club included the following. $ subscriptions in advance 100 subscriptions in arrears 130 bank 790 ...
What is not a voluntary deduction from gross wages?
How is the current ratio calculated?
Which ratio measures liquidity?
Which accounting principle is referred to in the following statement? 'An accountant should not overstate profit and should provide for all possibl...
Filton is a retailer of electrical goods. His financial year ends on 30 September. The following information was available from his books. Balance...
Rod's financial year ends on 31 December. On 1 January 2020 Rod will purchase a new delivery vehicle for his business. The details are as follows: ...
The Primrose Garden Store has two departments: plants and tools. The following information is available for the year ended 30 September 2019. Reven...
Indu is in business buying and selling goods on credit. The following information is available. At 1 October 2018 Inventory $35000 For the year end...
Feng is a sole trader. The following balances were extracted from the books on 30 September 2019. Non-current assets (at cost) Land and buildings $...
Sairah is a retailer of garden furniture. The following ledger account appeared in her books on 31 August 2019. Wootton account Date Details Debit ...
Karthik extracted the following trial balance from his books on 30 September 2019. Trial Balance at 30 September 2019 Debit Credit $ $ Revenue 180...
ABC Limited has ordinary share capital consisting of 150000 shares of $1 each. The following is an extract from the statement of changes in equity ...
Rani is in business buying and selling goods on credit. She provided the following information. At 1 October 2017 $ Capital 75000 Bank loan (repaya...
The following balances were extracted from the books of B Manufacturing on 30 September 2019. Inventory at 1 October 2018 $ Raw materials 7900 Work...
What is not an example of a book-keeping entry?
The following balances appeared in Hussein's books. $ fixtures 6000 inventory 3300 trade receivables 3000 trade payables 4500 other receivables 500...
What does the owner's equity consist of?
Which entries did Sally make to record the following transaction? Rashid, a credit customer, returned damaged goods. account to be debited | accou...
The following account appeared in the books of Mary. Paul account $ | $ --- | --- April 1 balance b/d 90 | April 21 returns 25 14 sales 150 | 30 b...
In which sections of Zamir's ledger would the following accounts be maintained? 1 the sales account 2 the account of Harjit, a trade receivable s...
Sue allows 2% cash discount to credit customers who settle their account within 28 days. Jane purchased goods, list price $200, on 10 September. Sh...
A transaction was posted to the wrong account of the same class. Which type of error was made?
Motor vehicle expenses, $50, were incorrectly debited to the motor vehicles account. Which journal entry corrects this error? debit $ | credit $ -...
Kate calculated her draft profit for the year at $28400. She later discovered the following errors. 1 Rent prepaid by Kate was understated by $100...
A trader's bank statement showed a credit balance of $2940. The following items had not been entered in the cash book. $ bank interest received 70...
What is a purpose of preparing a sales ledger control account?
Rashid provided the following information at 31 December. $ machinery at cost 52 000 provision for depreciation of machinery 23 000 Depreciation ...
A machine which cost $32000 was sold for $14000. The total depreciation at the date of disposal was $15000. What was the profit or loss on disposal?
Beena maintains a provision for doubtful debts of 3% of the trade receivables at the end of each financial year. On 1 September 2019 the provision ...
What is not a service business?
The financial year of Peter ends on 30 September. On 1 August 2020 Peter received rent $1000. This covered the period from 1 July to 30 November 20...
In addition to a share of the profit a partner receives interest on capital, a salary and is charged interest on drawings. How are these recorded i...
A sports club provided the following information. $ subscriptions for the year 26 800 profit on sale of refreshments 4 200 depreciation 1500 rent ...
A club was formed on 1 July 2019. During the year ended 30 June 2020 subscriptions received from members totalled $2500. This included $120 paid in...
Anthony does not keep a full set of accounting records. He knows his opening and closing cash balances and wishes to calculate his cash sales. Whic...
A trader has not maintained a full set of accounting records. How can she calculate the credit sales for the year?
A trader made the following forecasts for the business for the next financial year. average inventory $80 000 rate of inventory turnover 6 times m...
A trader wants to improve his gross margin. How can this be done?
Meesha provided the following information for her first year of trading. $ sales (1000 units at $10 each) 10000 cost of sales (1000 units at $4.50...
AB Limited and CD Limited both started business on 1 January 2019 with an ordinary share capital of $100000. Neither company had any debentures or ...
Which interested party uses the financial statements of a business to assess current performance and plan for future activities?
The special skills of the employees are not recorded in the financial statements of a business. Which accounting principle is being applied?
How can a business comply with the accounting principle of prudence? assets | losses --- | --- avoid overstating | avoid overstating avoid oversta...
What is not an aim of international accounting standards?
The following account appeared in the books of Mary. Paul account $ $ April 1 balance b/d 90 14 sales 150 April 21 returns 25 30 bank 88 discount ...
Which business document is used to update the cash book for standing order payments?
On 1 March 2020 the bank column of a cash book had a credit balance of $290. During March cheques totalling $580 were received and cheques totallin...