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.
Sarah sells goods on credit to Zafar. How is this recorded in Sarah's ledgers? general ledger sales ledger A credit sales account debit Zafar acc...
Which statement about a debit note is correct?
At the end of April the discount column on the debit side of a three column cash book showed entries of $80 and $60. How is this recorded in the l...
On 1 May a trader's bank statement showed an overdraft of $80. The following were recorded in the cash book but did not appear on the bank stateme...
The following account appeared in the books of Abdul. Hanif account Debit $ Credit $ Balance $ 2015 March 1 Balance 400 400 Cr 4 Purchases 250 65...
On 1 January 2014 a trader owed one month's rent. During the year rent was paid by a cheque. On 31 December 2014 two month's rent was prepaid. How...
At the end of the financial year, Ryan had accrued motor expenses of $200. How will this appear in Ryan's ledger and statement of financial positi...
A business maintains a provision for doubtful debts of 2% of trade receivables. On 1 January 2014 the provision was $1000. On 31 December 2014 the...
Ezra received the following cheques. $210 from the sale of goods $1000 from the sale of old motor vehicle (at book value) $150 for rent of premise...
Repairs to a motor vehicle were debited in error to the motor vehicles account. How does this affect the profit for the year and the non-current a...
What is the formula for calculating the depreciation for the year using the revaluation method?
A vehicle purchased for $15000 was sold four years later for $2000. The balance on the provision for depreciation account was $12000 at the date of...
Carla is preparing her sales ledger control account. Where will she obtain information about contra entries?
On 1 January 2014 Kim's net assets totalled $70000. On 31 December 2014 they totalled $55000. During the year Kim withdrew $4000 for personal use. ...
How should inventory be valued?
Amelia is a photographer. She provided the following information. fees owing at the beginning of the year 2350 fees received during the year 53410...
In the accounts of a partnership, where would interest on drawings appear?
Clear is a sole trader making annual profits of $24000. He decides to admit Deep as a partner. They agree that Clear would receive salary, and prof...
At the end of the financial year, some members of Allsports Club had not paid their subscription. How will these unpaid subscriptions be recorded ...
What is similar to a statement of affairs?
Vivek provided the following information for the month of April. increase in trade payables during the month $670 amounts paid to credit suppliers...
A limited company provided the following information. January 1 ordinary shares of $1 each 200 000 retained earnings 12 000 December 31 profit for...
Martha received gross pay of $1000 per month. Her employer provided the following information. employee's social security contribution 10% employe...
A company provided the following information about its current ratio. Year 1 2.3:1 Year 2 2.4:1 Year 3 2.5:1 What would explain the changes in th...
What is the going concern principle?
The payment of an insurance premium was entered in the cash book and in the insurance account. Which accounting principle was applied?
Sarah sells goods on credit to Zafar. How is this recorded in Sarah's ledgers?
Gail's statement of financial position included the following. $ non-current assets 100000 current assets 50000 current liabilities 2000 What w...
A trader received his monthly bank statement. Which item(s) may have appeared on this statement? 1 bank charges 2 credit transfers 3 unpresented ch...
The following account appeared in the books of Mary. Paul account 2015 Debit $ Credit $ Balance $ April 1 Balance 90 90 Dr 14 Sales 150 240 Dr 21 R...
Which error would be revealed by a trial balance?
Ali's financial year ends on 31 March. During the year ended 31 March 2015 Ali paid wages of $42500. On 31 March 2015 $1400 wages were accrued. Whi...
At the end of the financial year, Ryan had accrued motor expenses of $200. How will this appear in Ryan's ledger and statement of financial position?
At the end of her financial year Annie decided to reduce her provision for doubtful debts. Which entry recorded this?
Which transaction is a capital receipt?
Sara started a business on 1 January 2013 and purchased equipment costing $10000. She depreciated the equipment by 20% per annum using the straight...
The totals of a trial balance failed to agree by $680 and the difference was entered in a suspense account. It was then found that rent received ha...
Why does a trader prepare a sales ledger control account?
The owner of a business took goods for his own use but failed to make an entry in the accounts. What was the effect of this error?
The financial year of Tony and Paul ends on 30 April. On 1 May 2015 Tony had a debit balance of $5000 on his current account. What does this mean?
Omar started a business but did not maintain any accounting records. Which item(s) are included in a calculation to find credit purchases for his f...
Which statement applies to preference shareholders?
A limited company provided the following information. $ January 1 ordinary shares of $1 each 200 000 retained earnings 12 000 December 31 profit...
Raminder, a manufacturer, provided the following information for the year ended 30 April 2015. $ cost of materials used 54 000 factory overheads ...
Heng is paid a basic wage of $6 per hour for a 40 hour week. Any overtime is paid as follows: Monday to Saturday: time and a quarter Sunday: double...
A business provided the following information. $ cost of sales 60 000 gross profit 40 000 expenses 25 000 What was the profit for the year as a...
A payment made from the business bank account for petrol for the owner's private car is not included in the income statement. Which accounting prin...
'A business's financial statements should include all the costs and income for the period to which they relate.' Which accounting principle is refe...
What is the purpose of international accounting standards?
Mira prepared a trial balance using the following information on 31 March 2015. The trial balance failed to balance. Office fixtures (at cost) Off...