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.
During the financial year, AB Limited paid debenture interest of $1400 relating to that financial year. At the end of the year, debenture interest ...
Which items are included in an income and expenditure account prepared for a sports club? 1 cost of new furniture purchased during the year for the...
Melody is a music club. The club holds a music concert once every year. Prizes are awarded to musicians selected by a judge. The club provided the ...
A business provided the following information. opening inventory of raw material 50 000 closing inventory of raw material 60 000 purchases of raw m...
Ashwin started a business as a taxi driver on 1 January 2022. His taxi cost $5000 and he paid $100 into a business bank account. He did not keep an...
A trader did not keep a complete set of accounts. He provided the following information for the year. opening trade payables 5000 closing trade pay...
T Limited provided the following information. net profit before interest 29 200 profit for the year 28000 equity at the year-end 192000 6% debentur...
Sabelo's liquid (acid test) ratio was higher on 1 January 2022 than it was on 31 December 2022. What could have caused this?
The following ratios relate to the businesses of Ewa and Max. current ratio 2.2:1 liquid (acid test) ratio 1.4:1 Max 2.4:1 1.0:1 An accounting stud...
A café owner made no entry in her accounts for increased competition when another café opened nearby. Which accounting principle was applied?
Shvan maintains a petty cash book using the imprest system. The imprest amount, which is $200, is restored every Wednesday. All payments of less t...
Stalla is a sole trader who sells on credit. She maintains a provision for doubtful debts at 4% of trade receivables. Stalla's trade receivables w...
Eshe is a trader. She has prepared a trial balance at 31 March 2023. The totals did not agree and the difference was placed in a suspense account. ...
Salman owns a footwear factory. He sells to all of the three local shoe shops. Salman prepares his financial statements to 30 April each year. At ...
Q Limited prepares its financial statements to 31 March each year. The company's retained earnings at 1 April 2022 were $16250. During the year end...
Omer is a trader. The following transactions took place in April 2023. April 3 Paid $1000 into the bank from his own personal money 7 Paid $360 to ...
Ramla has calculated her draft profit figure for the year ended 28 February 2023. Adjustments in Ramla's ledger accounts have still to be made for ...
The Favourite Book Club was formed several years ago. The subscription amount of $52 per annum has remained unchanged since the club started. All s...
Akila and Darius are in partnership. The partnership agreement provides for the following: interest on capital of 3% per annum interest on drawings...
Amadi prepared the following trial balance which is not yet totalled and contains errors. Amadi Trial balance at 31 March 2023 Debit | Credit $ | $...
Which task is performed by a book-keeper?
In which book of prime entry does a trader record cash discount received?
The analysis columns of a petty cash book show the following totals. $ postage 20 stationery 31 How should these totals be posted to the ledger?
Which business documents are not entered in the books of prime entry? 1. credit note 2. debit note 3. invoice 4. statement of account
A trader has the following ledger account. heat and light account $ $ year 1 year 1 January 1 balance b/d 400 December 31 income statement 4850 Dec...
Trevor prepared his financial statements for the year ended 31 December 2020. He then discovered that he had omitted to record a cash payment, $240...
A payment of $68 for insurance has been entered in the insurance account as $86. Which double entry will correct this?
A business has received a bank statement. The bank statement shows the following entries. 1. a cheque issued to a credit supplier 2. a cheque recei...
On 31 May the bank statement of a business showed a positive bank balance of $1790. Comparing the bank statement with the cash book the following i...
What would not be included in a sales ledger control account?
Nadia provided the following information for the month of July. $ 1 July sales ledger control account balance debit 1750 credit 215 For the month o...
Samir runs a car hire business. He received cash payments for car hire. He also received the proceeds from the sale of an old vehicle. Which type o...
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 400 ...
Mandeep depreciates his motor vehicles at the rate of 20% using the straight-line method. A full year's depreciation is provided in the year of pur...
Why does a trader maintain a provision for doubtful debts? 1. to ensure amounts owing to the business for which payment is unlikely to be received ...
Why is inventory valued at the lower of cost and net realisable value?
At the end of the financial year Cindy valued her inventory at cost. This valuation incorrectly included damaged goods costing $300. Cindy estimate...
Which business is not a service business?
A trader was preparing her statement of financial position at 30 June 2021. She had four bank loans. loan date repayable $ 1 1 December 2021 5000 2...
What is shown in a partnership appropriation account?
A company supplied the following information. $ issued and paid up share capital 300 000 general reserve 45000 long-term bank loan 8000 retained ea...
Which apply to both debentures and preference shares?
The AB Sports Club runs a café for the use of members. The treasurer prepared draft financial statements which showed a deficit of $700 and an accu...
Which accounting statement prepared by the treasurer of a sports club provides a summary of all the monies received and paid out during the financi...
At the end of the financial year, a manufacturing business owed rent on its factory. The business adjusted its financial statements to account for ...
What is a direct cost for a manufacturer?
A business uses 20% mark up to arrive at its selling prices. During the year it made purchases of $35000 and the inventory decreased from $7000 to ...
What is needed for the preparation of a statement of affairs?
A trader provided the following information. $ cash purchases for the year 146 000 credit purchases for the year 108 000 trade payables at the year...
George provided the following information. $ non-current assets 15000 inventory 12000 trade receivables 18000 trade payables 8000 His liquid (acid ...