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.
Nadia is a trader. Her financial year ends on 31 March. She extracted a trial balance at 31 March 2020. The debit and credit totals did not agree. ...
The directors of JKY Limited provided the following information. For the year to 30 April 2020: Revenue $ 209510 Purchases 121618 At 30 April 2020:...
What increases owner's capital?
Carl, a trader, took goods from the business for his own use. These goods had cost $100, and $8 carriage had been paid for them to be delivered to ...
Shula's financial year ends on 31 March. On 1 April 2021 there was a credit balance of $100 on Yasmin's account in Shula's purchases ledger. What d...
Which items would be recorded in the general journal of a bakery? 1 correction of an error of principle relating to an oven repair 2 purchase of a ...
Alisha entered the credit notes she received in March in the correct returns journal. How was the total of this journal recorded in the ledger at t...
Which item would not be shown on a bank statement?
Which statement about a purchases ledger control account is not correct?
Javid's sales ledger control account had a debit balance of $12000. Interest on an overdue account, $40, and discount allowed, $150, had been omitt...
What is the effect of treating an item of capital expenditure as revenue expenditure? 1 Cost of non-current assets is overstated. 2 Cost of non-cur...
Why does a business provide for depreciation on non-current assets?
Machinery which had cost $6290 was sold for $3100. The disposal account showed a profit on disposal of $584. How much was the depreciation up to th...
The following ledger account appeared in the books of a trader. Rent receivable account $ $ 2020 2020 Dec 31 balance c/d 600 Jan 1 balance b/d 40...
Why does a business maintain a provision for doubtful debts account?
What are the advantages of being a sole trader?
Which items would appear in the income statement of a service business?
A business provided the following information. $ long-term loan 20000 trade receivables 12000 trade payables 9700 bank overdraft 2000 prepaid ...
What is added to owner's capital to calculate capital employed?
On 1 April 2020 Ahmed had a provision for doubtful debts of $290. The following journal entry was made on 31 March 2021. debit $ credit $ provisio...
X Limited started the year with an ordinary share capital of $100000. An ordinary share dividend of $3000 was paid during the year. Later a further...
Which providers of funds to a limited liability company receive a fixed rate of return on their investment?
Every member of a sports club is required to pay an annual subscription of $50. The subscriptions account showed the following. Subscriptions accou...
Which term is used to describe the surpluses which have been earned by a club over its lifetime?
Nula provided the following information for the year ended 31 March 2021. drawings for the year $3900 net assets at 1 April 2020 $60500 net asset...
A trader who does not keep full accounting records was able to supply the following information. $ amount owed by trade receivables at 1 April 202...
A trader provided the following information. $ revenue 120000 inventory at the start of the year 9600 inventory at the end of the year 10200 A ...
George provided the following information. $ non-current assets 15000 inventory 12000 trade receivables 18000 trade payables 8000 His liquid (...
A trader provided the following information. $ $ revenue 3600 opening inventory 100 purchases 2600 2700 closing inventory 300 2400 gross pro...
The current ratio of X is 2:1. The current ratio of Y is 1.3:1. What does a comparison of these ratios show?
Which external parties would be interested in the financial statements of a trader? 1 a bank manager considering a request by the trader for a loan...
Sabeena runs a retail business. She plans to close her business in a few weeks' time. How should her fixtures and fittings be valued in the stateme...
Why should a trader match his costs for a financial year with the revenues for the same period?
Which international accounting objectives are described by the following statements? 1 Information in financial statements must be free from materi...
Which statements about book-keeping and accounting are correct? 1 Accounting is performed periodically rather than daily. 2 Accounting relies on h...
William paid $500 in cash to Sonia for rent. How did Sonia record this?
Abdul buys all his machinery on credit. He provided the following information. at 30 April 2020: machinery at cost $30000, amounts owing to suppli...
Jameel sold goods on credit. Where did he first record the invoice he issued?
Which statements about a three-column cash book are correct? 1 It contains ledger accounts for bank and cash. 2 It contains ledger accounts for di...
Which statement is not true about a trial balance?
Which error is an error of original entry?
A cheque, $85, received from Shakeel, was credited to the account of Shamz. Which journal entry corrects this error?
Jamal's bank statement at 1 May 2021 showed a bank overdraft of $1460. At that date there were unpresented cheques of $385 and uncredited deposits...
What is included in a purchases ledger control account?
Which statements about capital expenditure are correct? 1 It is money spent on day-to-day business operations. 2 It is money spent on purchasing n...
Nia sold equipment with a net book value of $200. The proceeds of the sale, $250, were credited to the sales account and debited in the cash book. ...
A machine with an original cost of $10000 had been depreciated for two years at the rate of 10% per annum using the straight-line basis. It was the...
Why would a bakery business not include a value for inventory of stationery in the statement of financial position?
Shilpa's financial year ends on 30 April. On 31 March 2021 she wrote off a debt owed by Tahir as irrecoverable. Which entry did Shilpa make on 31 ...
James is an accountant and operates as a sole trader. Which items would not appear in his statement of financial position? 1 long-term loan 2 ret...