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.
Lache's accounting year ends on 31 December. The following information is available. 2015 $ 2014 $ Revenue 750000 600000 Expenses 200000 175000 P...
Suria is in business as a sole trader. The following balances were extracted from her books on 31 March 2016. Revenue $ 287000 Purchases 143800 Re...
Faara had the following assets and liabilities on 1 May 2015. Inventory $ Trade receivable - Jaafar ...
Lache's accounting year ends on 31 December. The following information is available. | | 2015 | 2014 | |:---|:---|:---| | | $ | $ | | Revenue | 75...
What is a disadvantage of a computerised book-keeping system?
A trader provides the following information. equipment 10000 inventory 4000 trade receivables 2500 trade payables 3500 insurance prepaid 100 rent ...
James bought a motor vehicle costing $10000 from GF Motors. He paid $2000 by cheque. The balance was to be paid over the next two years. How was th...
Sara purchases goods on credit from Zola. Sara owed Zola $400 on 1 May. She paid this on 1 May after deducting a 5% cash discount. Sara made furthe...
A business provided the following information for April 2017. invoices received for credit purchases 250 000 invoices received for cash purchases ...
Sukesh's account in the books of Jack showed the following. Sukesh account date debit $ credit $ balance $ May 1 balance 450 dr 4 sales 200 650 ...
Liam rents premises from Gavin. In March Liam paid the rent in advance for April and May. How would the balance on 1 April appear in their ledgers?...
Ahmed decided to write off an amount owing from Yasmin as a bad debt. Which entries will Ahmed make? when the debt is written off account to be de...
An item of capital expenditure has been incorrectly treated as revenue expenditure. What is the effect of this error? assets profit for the year A...
A business sells a machine which has been depreciated over several years. Which entry records the transfer of depreciation to the machinery disposa...
The following account appeared in a trader's ledger. Provision for depreciation of machinery account $ $ 31 Dec 2015 balance c/d 3000 31 Dec 2015...
What would not appear in a sales ledger control account?
A business has two departments, X and Y. The total revenue was $120000 of which 60% related to department X. The total cost of sales was $90000 of ...
On 1 April a business had a working capital of $6000. On 2 April $1150 was received from credit customers in settlement of debts of $1200. On the s...
Seema is a business consultant. She provided the following information at the end of her first financial year on 30 April 2017. fees earned during...
At the end of Carl's financial year he made an adjustment for $40 rent owed by his tenant. How did this adjustment affect Carl's financial statemen...
Gurmit agreed to admit Balbir as a partner from 1 January 2017. A value of $4000 was agreed as goodwill of Gurmit's business. Why was the goodwill ...
Which item may appear on the debit side of a partner's current account?
The financial year of a club ends on 30 April. During the year ended 30 April 2017, the club received an interest-free loan from a member. In which...
A sports club provided the following information. subscriptions paid in advance at the start of the year 400 total subscriptions received during t...
Nula provided the following information for the year. drawings for the year 3900 net assets at 1 January 2016 60 500 net assets at 31 December 201...
Abdul does not keep a full set of books but was able to provide the following information. opening inventory 5000 closing inventory 7000 purchases...
Which costs are included in prime cost? direct materials direct labour factory overheads change in work in progress A ✓ ✓ ✓ ✓ B ✓ ✓ ✓ C ✓ ✓ X X D...
Paula has the following deductions from her wages. a subscription to her employer's social club a pension contribution How are these deductions cla...
Winston provided the following information on 30 April 2017. capital at 1 May 2016 42000 profit for the year 6000 current liabilities 2000 current...
Which accounting principle requires a business to prepare financial statements at regular intervals?
Joyce depreciates her non-current assets using the straight-line method of depreciation, but she writes off any office equipment costing under $200...
What is a disadvantage of Information and Communications Technology in book-keeping?
A trader made the following entries in his accounting records. [Table: debit (income statement), credit (capital account)] What did he record?
A customer received a credit note. In which book of prime (original) entry would the customer record this document?
Total goods returned to Wayne by credit customers in March 2017 had a list price of $440. He allows a trade discount of 25% on all credit sales. He...
On 31 July the bank column in Jay's cash book showed he had $312 in the bank. On the same date his bank statement showed a debit balance of $53. It...
Which accounts all have debit balances?
Sukesh's account in the books of Jack showed the following. [Figure of Sukesh account ledger with dates May 1, 4, 8, 8] Which statements about the ...
Maria started a business on 1 May 2016. The monthly rates on her business premises are $100. During the year ended 30 April 2017 she paid rates of ...
Which cost would not be depreciated?
The following account appeared in a trader's ledger. [Figure of Provision for depreciation of machinery account] There were no sales or purchases o...
The totals of a trial balance did not agree and a suspense account was opened. It was later found that the total of the discount allowed column in ...
A trader calculated her draft profit for the year at $28400. She later discovered the following errors. A prepayment of rent payable was understate...
Alex purchased goods for resale costing $1000 to which she would normally apply a 25% mark-up. These goods remained unsold at the financial year en...
Pooja owns a hair salon. She lives in a flat above the salon. The business pays rent for the whole building. No adjustment has been made in the fin...
Ben and Joe decide to form a partnership. Ben is to invest $50000 in the business and Joe $10000. Ben wants the partnership agreement to reflect th...
A sports club was formed on 1 January 2016. Which amount will appear for subscriptions in the income and expenditure account for the year ended 31 ...
How can profit for the year be calculated?
Abdul does not keep a full set of books but was able to provide the following information. [Table with opening inventory, closing inventory, purcha...
What are the main features of debentures?