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.
Richi has the following assets and liabilities. inventory (stock) | 8400 trade receivables (trade debtors) | 9300 cash | 400 trade payables (trade ...
Inventory (stock) at 31 December 2008 was overstated by $6000. What was the effect on the gross profit for the year ended 31 December 2009? A $6000...
Assets and liabilities are recorded in the accounts at the actual amount of the transaction. Which accounting principle is being applied? A account...
The following balances were taken from the books of Dilshan on 1 September 2010: $ Insurance 280 Dr Gul & Co 450 Dr The following transactions t...
Jayani prepared a trial balance at 30 September 2010, which balanced. A draft income statement (trading and profit and loss account) was then prepa...
Harland Ltd had the following balances in its accounts after the calculation of the profit for the year (net profit) ended 31 October 2010: $ Cal...
Windy Ltd is in business buying and selling goods on credit. The following balances were taken from the books of Windy Ltd. Year ended 30 Septembe...
The following balances were extracted from the books of Doji, a trader, on 30 September 2010: $ Ordinary goods purchased (purchases) 70 000 Carri...
How should the owner of a business use his annual financial statements?
Melanie provided the following information at the end of her financial year. $ non-current assets at cost 14 000 amount owing by customers 1 250...
How does the information provided by computerised accounting differ from that provided by a manual system?
Eli buys goods on credit from Mona. What entries should Eli make in his ledgers?
Raoul trades with Christine. They exchange the following documents. Which document would normally be issued first?
Zoran was given the following discounts by his supplier when he bought goods, list price $4000. trade discount 25% cash discount 5% Which amount ...
Melissa transferred $5000 from the bank deposit account to the bank current account on 1 May. On the same day she received a bank loan, $10 000, w...
The bank statement of Leroy shows a balance of $3500 and the cash book shows a balance of $4200. The difference is due to a receipt of $1000 shown...
Why is the general journal used to correct errors in the ledger?
At the end of the financial year there was a debit balance brought down on the office expenses account. In which section of the balance sheet will...
There is a credit balance of $100 on Yasmin's account in Shula's purchases ledger. What does this mean?
Which is an example of a compensating error?
At the end of the financial year, Ryan owed $200 for motor expenses. How will this appear in Ryan's ledger and balance sheet?
A business provides the following information. $ trade receivables 13 400 provision for doubtful debts brought forward 800 debts to be written ...
A motor vehicle cost $8000. The price included $36 for petrol. The total payment of $8000 was debited in the motor vehicle account. What is the ef...
At the end of her financial year, Lucy decided to depreciate her fixtures by $1000. Which journal entry will record this?
Tracey runs a clothing store. She sold a computer with a net book value of $2000 for $1800. Cash was received but no entries had been made in any a...
Which group of items appear in a purchases ledger control account?
Nirmal sells two products, product G and product H. The following information is available about his inventory on 31 December 2010. product | num...
On 1 January 2010, Zafar borrowed $10 000. He agreed to repay the loan by annual instalments of $1000 starting on 1 January 2011. How will the loa...
Which is a service business?
A partnership agreement states that interest on drawings will be charged. How is this recorded?
On 1 August 2011 the opening balance of a receipts and payments account was $10 000. The following information is available for the month of Augus...
Wayne provided the following information. $ $ revenue (sales) 12 800 opening inventory 1 000 purchases 10 500 11 500 closing inventory 1 600 ...
Zed Ltd provided the following information. $ issued and paid up share capital 200 000 general reserve 30 000 retained profits 15 000 10% debe...
Which group contains only indirect costs?
Tarik and Fatima are paid $5 for each article they make, subject to a minimum weekly wage of $400 each. In one week Tarik made 70 articles and Fat...
Simran's profit for the year, before interest, was $18 000. Interest payable amounted to $2000. The balance on her capital account was $80 000 and ...
A sole trader and a large limited company purchase identical office equipment. The sole trader treats it as a non-current asset and the limited com...
John purchased a non-current asset on credit. He made an entry in both the non-current asset account and the creditor's account. Which accounting ...
Melanie provided the following information at the end of her financial year. $ non-current assets at cost 14 000 amount owing by customers 1 250 am...
Eli buys goods on credit from Mona. What entries should Eli make in his ledgers? general ledger purchases ledger A credit Mona debit purchases B cr...
Raoul trades with Christine. They exchange the following documents. Which document would normally be issued first?
Zoran was given the following discounts by his supplier when he bought goods, list price $4000. trade discount 25% cash discount 5% Which amount wo...
The bank statement of Leroy shows a balance of $3500 and the cash book shows a balance of $4200. The difference is due to a receipt of $1000 shown ...
There is a credit balance of $100 on Yasmin's account in Shula's purchases ledger. What does this mean?
A business provides the following information. $ trade receivables 13 400 provision for doubtful debts brought forward 800 debts to be written off ...
At the end of her financial year, Lucy decided to depreciate her fixtures by $1000. Which journal entry will record this? debit credit $ $ A fixtur...
Nirmal sells two products, product G and product H. The following information is available about his inventory on 31 December 2010. product number ...
A partnership agreement states that interest on drawings will be charged. How is this recorded? debit credit A appropriation account partners' curr...
On 1 August 2011 the opening balance of a receipts and payments account was $10 000. The following information is available for the month of August...
Wayne provided the following information. $ $ revenue (sales) 12 800 opening inventory 1 000 purchases 10 500 11 500 closing inventory 1 600 9 900 ...