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 account appeared in the ledger of Chan. Fu account 2019 $ 2019 $ March 28 bank 100 March 1 balance b/d 100 31 balance c/d 250 12 purc...
A trial balance is a listing of which balances?
A business purchased a motor vehicle, $8900, on credit from AKS Limited. The book-keeper made an error of reversal when recording this purchase. Wh...
Ali's financial year ends on 31 March. During the year ended 31 March 2019, Ali paid wages of $42500. On 31 March 2019, $1400 wages were accrued. W...
On 1 March 2019, a trader paid rent of $1200 covering the period 1 March 2019 to 31 May 2019. The trader's financial year ends on 31 March 2019. Wh...
An amount owed by Baloch was written off. Which entries were made? account debited account credited A bad debts Baloch B bad debts provision for do...
Kevin depreciated his motor vehicle by $2000 at the end of the financial year. Which journal entry would record this? debit $ credit $ A income sta...
Ravi's financial year ends on 30 April. Ravi bought a motor vehicle for $8000 on 1 May 2016 and sold it for $4050 on 1 May 2018. He uses the dimini...
Which would not appear in a sales ledger control account?
Fatima opened a department store on 1 January 2018. She provided the following information on 31 December 2018. department X $ department Y $ reven...
Which section of a statement of financial position would include goodwill?
At the end of the financial year Omar was owed $200 by a credit customer and he owed $10 for electricity. He also had a 2-year bank loan of $5000. ...
A club received subscriptions from members totalling $12600 in the year ended 30 April 2019. The following information was available. at 30 April 2...
A golf club sells refreshments to its members. Suppliers of refreshments were owed $250 on 1 January 2018 and $400 on 31 December 2018. Payments to...
Mariam provided the following information. at 1 January 2018 $ at 31 December 2018 $ trade receivables 5000 3500 Receipts from credit customers in ...
Sue started a business on 1 January 2019. The only accounting record she maintained was a bank account. Why is the balance on the bank account not ...
A limited company provided the following information. $ 1 January ordinary shares of $1 each 200 000 retained earnings 12000 31 December profit for...
What does not appear in a statement of changes in equity?
Which cost would be included in prime cost in a manufacturing account?
Jacob works 30 hours each week and is paid $10 per hour. He pays income tax at 30%, national insurance at 10% and makes a voluntary contribution to...
A business's sales are $100000, the expenses are $30000 and the profit for the year is $20000. What is the gross profit/sales ratio?
A trader provided the following information. $ profit for the year 24 000 working capital 20 000 capital 120000 non-current liability 30000 What wa...
A business prepares its accounts on the basis that it will continue to trade in the foreseeable future. Which accounting principle is being applied?
Which statement is not correct about reasons for using international accounting standards?
Wilson maintains a three column cash book in his business. On 1 March 2019 the following balances were available. Cash $10 Bank overdraft $35 Durin...
Catherine prepared a trial balance on 30 April 2019. The trial balance did not agree. She opened a suspense account. On inspection of the books she...
Caden and Shen had traded as sole traders for many years. On 1 May 2018 they formed a partnership. The following assets and liabilities were record...
Celia is in business buying and selling goods on credit. The following information is available: At 1 May 2018 Inventory $17500 For the year ended ...
Leo is in business as a sole trader. The following balances were extracted from his books on 31 March 2019. $ Capital 80000 Drawings 25000 Non-curr...
Mikaela purchases goods from Steve. On 1 March 2019 Mikaela owed Steve $900. Mikaela provided the following information for the month of March 2019...
Khalid is a trader. On 18 April 2019 he was informed that Aiden, a credit customer who owed $600, had ceased trading. Aiden paid Khalid $240 by che...
Jayden is in business buying and selling goods on credit. The following information is available for the month of March 2019. $ Balance at 1 March ...
Midhaven Products has a production line. The following information relates to the production line workers for the month of April 2019. Total for th...
Marcel and Naomi are in partnership. The partnership agreement states that the profits and losses are shared, Marcel three-fifths, Naomi two-fifths...
The balances remaining on the books of a business after the preparation of the income statement included the following. $ loan from XY Finance 1000...
On 2 April Nina received a cheque from Zaffar, a credit customer. On 12 April the cheque was returned unpaid by the bank. What entry would Nina mak...
Ann is a trader. On 1 April Cindy's account in Ann's ledger showed a credit balance of $520. The following transactions took place during April. Ap...
Goods bought on credit by Tumelo from Tebogo are returned before they are paid for. Tumelo keeps a full double entry system. Where will Tumelo reco...
What is recorded in the sales journal?
Which statement about a two-column cash book is correct?
Which statements about trade discount are correct? 1 It is debited to the supplier's account. 2 It is only given if the invoice is paid within the ...
Why is a trial balance prepared?
The income statement of a business showed a loss for the year of $16000. On checking the books the following errors were discovered. 1 No adjustmen...
Peter's bank statement showed a debit balance of $600 on 1 April. The following transactions took place in April. $ total cheque deposits 7400 tota...
A sales ledger control account had a debit balance of $10000. It was found that a $2000 contra entry to the purchases ledger control account had be...
A business had a new extension to its workshop premises. It incurred the following expenditure. $ building cost 65000 legal fees 1800 air condition...
A non-current asset was depreciated at the end of the first year of ownership using the straight-line method based on the following information. co...
A company's financial year ended on 31 December 2019. On 1 December 2019 it paid rent, $8000, for the four months ending 31 March 2020. What was th...
Alice's financial year ends on 31 December. The balances on her books on 1 January 2020 included the following. $ commission receivable 250 debit r...
Joseph sells goods on credit and maintains a provision for doubtful debts. He wants to increase his provision for doubtful debts by $250. Which jou...