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.
Zed Ltd provided the following information. $ issued and paid up share capital 200 000 general reserve 30 000 retained profits 15 000 10% debenture...
Christos is in business buying and selling goods on credit. The following details relate to the account of his customer Michelle for the month of J...
Majda prepared a trial balance on 31 August 2011. The trial balance failed to agree and a suspense account was opened. It was discovered that all o...
The treasurer of the Sandbury Sports Club did not keep full accounting records. The following information was available at 31 October 2011: Cash B...
The following information relates to the business of Samara, a wholesaler. Revenue (sales) for year ended 30 September 2011 $200000 Inventory 1 O...
Answer Question 5 on the following pages. Donney and Raj are in partnership sharing profits and losses in the ratio 2:1. Interest is allowed on ca...
Savvas is a supplier of goods to Akmal. Savvas allows 15% trade discount on all purchases made by Akmal. The following transactions took place in ...
Andrea prepares a sales ledger control account. At 30 September 2011 the following information is available: $ Trade receivables at 1 October 201...
Paulton Ltd is a company with the following capital structure: Authorised share capital $ Issued share capital $ Ordinary shares of $1 100000 5000...
The following information was extracted from the books of Anika. Revenue (sales) for the year ended 30 September 2011 $80000 Purchases for the yea...
Jasmine is a retailer of fashion goods. The following balances were extracted from her books on 30 September 2011. $ Revenue (sales) 210000 Purch...
On 1 October Winston's assets totalled $10 000 and his liabilities totalled $3000. On 2 October he paid $190 to a creditor after deducting $10 cash...
What is the purpose of the double entry book-keeping system?
Sue returned goods to Ana. Which entries did Sue make in her books?
Karim issued an invoice, a credit note and a receipt. What has happened?
Amina returned goods to Khalid. Where will this transaction be recorded in Khalid's books?
On 1 October Wayne invoiced Mandy for goods, $5000, less 20% trade discount. Mandy was also entitled to a cash discount of 5% if the balance was pa...
On 1 September Miriam's bank statement showed a credit balance of $3000. She found that there was an unpresented cheque of $360 and an uncredited d...
At the end of Leroy's financial year it was decided that the balance on the telephone expenses account, $340, should be split 90% for business use ...
The following balances were extracted from Majid's purchases and sales ledgers. Walid account $1500 debit Xian account $1700 debit Yu account $2300...
On which side of the following accounts would an entry be made to transfer the total of the account to the income statement at the end of the finan...
Which appear on the debit side of a trial balance? 1 assets 2 capital 3 expenses 4 revenue
A trial balance fails to balance. Which error caused this?
A trader pays rent for premises. How is the rent accrued at the end of the financial year shown?
Ajay maintains a provision for doubtful debts of 3% of trade receivables. On 1 January 2011, the balance on the provision for doubtful debts accoun...
Which are revenue expenditure for a motor vehicle dealer? 1 advertising costs 2 extension to premises 3 purchase of cars for resale 4 purchase of c...
A book-keeper opened a suspense account. Which type of error had been made?
A book-keeper made two errors. Repairs to machinery were debited in the machinery account. Purchase of a motor vehicle was debited in the purchases...
Which is recorded on the credit side of a purchases ledger control account?
The debit balance on the sales ledger control account on 1 August was $8260. The total of the sales journal on 31 August was $26 840 and the total ...
On 1 January 2011 Kim's net assets totalled $70 000. On 31 December 2011 they totalled $55 000. During the year he had withdrawn $4000 for personal...
On 30 September 2012 a business had an inventory of goods for re-sale which had cost $23 000. This included goods costing $1000 which were damaged ...
Interest on capital and interest on drawings compensate which partner?
Which may be included in an income and expenditure account?
What is a statement of affairs?
A limited company provided the following information. 1 January ordinary shares of $1 each $200 000 1 January retained earnings $12 000 31 December...
What is the main purpose of a clock card?
Wang provided the following information. revenue $32 000 cost of sales $20 000 opening inventory $7 000 closing inventory $5 000 What was the rate ...
A trader decided that all items of office equipment costing less than $500 would be treated as office expenses in the year of purchase. Which accou...
Waheda updated her information and communications technology equipment and sent her employees on a training course. Applying the money measurement ...
For which purpose does a sole trader not use the information provided in his financial statements?
Sara had the following assets and liabilities on 1 August 2012. non-current assets $44 000 non-current liabilities $10 000 inv...
On 1 January Tan, a sole trader, lent Chan $4000. On 1 November Chan repaid part of the loan leaving an amount outstanding of $1000. Which entry wa...
What is the purpose of an invoice?
Daniel allows Joanne trade discount of 25% and cash discount of 5% if invoices are paid within 30 days. Joanne purchased goods with a list price of...
On 30 March the bank columns of a cash book showed an overdraft of $1860. On 31 March the following transactions took place. paid cash into the ban...
A bank reconciliation statement starts with the balance in the cash book. It includes uncredited deposits and unpresented cheques. It also includes...
On 2 October Nina received a cheque from Zaffar, a credit customer. On 12 October the cheque was returned unpaid by the bank. Which entry would Nin...
The following account appeared in Amna's ledger. Syed account date details debit $ credit $ balance $ 2012 Sept 1 Balance b/d ...
Which error would not be revealed by a trial balance?