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 ratios have been calculated for a trader. year 1 year 2 profit margin 15% 20% return on capital employed (ROCE) 9% 6% What explains t...
William is a trader. He has received an order from James to supply goods on credit. When should William regard the revenue as earned?
Jameel's financial year ends on 31 December. On 1 January 2021 he brought down a debit balance on his stationery account. What does this balance re...
Alex issued credit notes in August and entered them in the correct book of prime entry. How was the total of this book of prime entry recorded in t...
Which business documents are used as sources of information to make entries in the cash book?
What is the double entry for recording a cheque payment to a credit supplier? debit credit A bank account purchases ledger account B bank account ...
A book-keeper made two errors which cancelled each other out. Which type of error did he make?
The totals of a trial balance did not agree and $200 was debited to a suspense account. The book-keeper then checked the books and found the follow...
A trader took some goods from the business for his own use. He credited the purchases account with the cost price of the goods, $200, and credited ...
What would result in the cash book balance being lower than the bank statement balance?
The bank statement of a business showed a credit balance of $280 on 31 December. At that date there were unpresented cheques of $312. A standing or...
A business keeps a complete set of books of accounts. What is not used as a source of information for making entries in control accounts?
Which item would not appear in the purchases ledger control account?
The cost of repairs to machinery was debited to the machinery account. What was the effect of this error? non-current assets profit for the year A...
A trader sold one of his vehicles. What is the journal entry to remove the total depreciation on the vehicle sold? account debited account credite...
Why is it important to match costs and revenues?
Devendra prepared the following journal entry. debit $ credit $ irrecoverable debts 714 Tobias 714 Which statement is correct?
Alex purchased goods costing $1000. She planned to resell the goods at a mark-up rate of 25%. These goods were unsold at the year end and were foun...
'Unlimited liability' is one of the disadvantages of operating as a sole trader. What is the correct explanation of unlimited liability?
Which item is a current asset?
Where is interest on drawings entered in the accounting records of a partnership business? appropriation account partner's capital account partner...
T Limited was formed on 1 April 2019. A total of 220 000 shares of $2 each were issued and shareholders were asked to pay 75% of the share value im...
Which items would appear in the statement of changes in equity of X Limited for the year ended 30 June 2020? 1. interim dividend paid on 31 March 2...
A company's financial year ends on 31 March. On 31 March 2021 trade receivables were $45 000. On 31 March 2022 trade receivables were $41 000. An i...
A club received subscriptions from members totalling $12 600 in the year ended 30 April 2019. The following information was available. at 30 April...
Which statements about the accumulated fund of a society are correct? 1. A surplus will increase the accumulated fund and a deficit will reduce it....
A manufacturing company provided the following information. $ cost of raw materials 186 000 direct wages 75 000 machinery depreciation 45 000 fact...
Sam's work in progress was $6500 at the start of the year and $11 200 at the end of the year. When Sam prepared his manufacturing account, he forgo...
Roshan's sales for his first year of trading were $55 000. His gross profit margin was 20%. The closing inventory was $3200. What were the purchase...
Miriam does not maintain a full set of accounting records. Only the purchases for the year and asset and liability values at the year end are known...
Abhinav provided the following information. year ended year ended 31 December 2019 $ 31 December 2020 $ purchases 112 500 124 000 cost of sales 11...
Miranda's gross margin fell from 25% in year 1 to 15% in year 2. What may have caused this?
Ralph wants to compare the accounting ratios for his business with the accounting ratios of his brother's business. What would prevent Ralph from m...
Which statement correctly describes the principle of realisation?
Addo is a trader who only sells on credit. His trade receivables at 1 April 2024 were as follows: $ Nuru 920 Mahia 1145 Ava 1378 Rachel 215 3658 ...
Paul is a trader. He maintains a three-column cash book. Paul has prepared draft financial statements for the year ended 31 March 2024. Paul later...
Zahra and Panya are the shareholders and directors of Q Limited. The company directors of Q Limited have provided the following trial balance. Q L...
Ahmed owns a trading business. He prepares his financial statements to 31 December each year. Ahmed had some unused office space and he decided to ...
Stella started in business as a retailer on 1 April 2023. She sells one type of good only. She has not kept a full set of accounting records but ha...
Lottie is a trader. Her financial year end is 30 April. She keeps her petty cash book using the imprest system. The imprest amount is $150. The tot...
Toyah owns a factory which makes dolls' houses. Her financial year end is 31 January. At 31 January 2024, her ledger accounts included the followi...
Akil prepared his trial balance at 29 February 2024. The total of the debit side was $83640 and the total of the credit side was $84025. Akil late...
Tadeen and Yadid are lawyers who have been in partnership for many years. The partners provided the following trial balance at 30 April 2024. Tade...
Ajay is a retailer. He has provided the following information. At 1 April 2023 Inventory $5200 Trade receivables $6875 Cash at bank $1946 Trade pa...
Which task will not be performed by a book-keeper?
What are assets? [Table with column headers: 'amounts owed to a business', 'amounts owed by a business', 'items owned by a business']
Sammy bought goods on credit and later returned some of these goods. How would he record the returns in his books of account? [Table with column he...
An account in Peter's books of account was as follows: Rami [Table with data: bank $380, discount received $20, balance b/d $400, total $400]. Whic...
At the end of her financial year, Jasmine balanced her cash book and ledger accounts and made appropriate year-end transfers. Which statements are ...
A trader bought goods on credit from a supplier. In which book of prime entry would the trader record this transaction?