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.
Alice sublets part of her premises to Mandy. At the end of the financial year Mandy owed $100 rent to Alice. How would this appear in Alice's ledge...
Which entry is made to record a decrease in a provision for doubtful debts? debit credit A income statement ...
A wholesaler had the following transactions. sold goods, $30 000, on credit received cheque, $12 000, from sale of old fixtures at book value How w...
The purchase of a motor vehicle was wrongly recorded as motor expenses. What is the effect of this error?
What is the reason for charging depreciation on a non-current asset?
Which entry is required to record the annual depreciation charge on machinery? debit credit A income stateme...
Why is a sales ledger control account usually prepared by a more senior member of staff than the person who maintains the sales ledger?
Henri has charged Thibault interest on his overdue accounts. Where does this interest appear in Thibault's control accounts?
A trader provided the following information. cost of sales $70 000 expenses $8 000 profit for the year $14 000 What was the revenue?
Nirmal, a business consultant, provided the following information. profit for the year $23 400 rent received from tenant $1 520 general e...
A rent account showed a debit balance of $2000 on 1 January 2011. Rent paid during the year ended 31 December 2011 was $12 000. Rent prepaid at 31 ...
Which group contains only advantages of being in partnership?
A partner is entitled to interest on his capital. How is this recorded in the personal account of the partner?
The financial year of a sports club ends on 31 December. Members' subscriptions received during 2011 were as follows. for the year ended 31 Decembe...
Donald's rate of inventory turnover was 10 times. The inventory on 1 January was $800 and the inventory on 31 December was $1000. What were his pur...
The issued share capital of DX Ltd consists of ordinary shares. The retained earnings were $45000 on 1 January 2011. These had increased to $75 000...
Which are statutory deductions from an employee's gross pay?
What is not included in the calculation of the quick (acid test) ratio?
The cost of the owner's personal use of business motor vehicles is excluded from the motor vehicle expenses. Which accounting principle is being ap...
The following balances were taken from the books of Asir on 1 July 2012. Stationery Rapid Office Supplies $ 60 Dr 400 Cr The following transacti...
On 31 August 2011 the following extract was taken from the balance sheet of Stavros. Non-current assets Equipment Office Computers Cost $ 60 000 8...
Sandar Manufacturing makes a single product. The following balances were extracted from the books at the end of the financial year on 30 September...
The trial balance of Maya, after the calculation of the gross profit, was as follows: Maya Trial Balance at 30 September 2012 Dr $ Cr $ Gross pro...
Maria is in business as a retailer. The following balances were extracted from her books on 30 September 2012. Capital at 1 October 2011 Drawings ...
What is a benefit of using computers in book-keeping and accounting?
Zafar returned goods bought on credit from Khalid. How was this recorded in Zafar's books?
In which book is a credit note from a supplier entered?
Sabena bought goods from Yasmin for $150 and received a 10% trade discount. How should Yasmin record this transaction?
Which is both a book of prime entry and a ledger account?
LWS Ltd expects to have a short-term financial crisis lasting for one month. Which type of finance should be arranged?
A bank statement showed a balance at bank of $3200. The value of unpresented cheques was $1200 and the value of uncredited deposits was $700. What ...
Which journal entry records the transfer of the profit for the year, $10000, to a sole trader's capital account?
During its first month of trading, a business had the following transactions. credit sales $16000 cash sales $3000 goods returned by credit custome...
The following rent account appeared in Dixon's ledger. 2012 Jan 1 balance 1000 Dr Jan 30 bank 3000 4000 Dr May 27 bank 3000 7000 Dr Oct 26 bank 320...
Why does a business prepare a trial balance?
Wayne rents premises. The monthly rent is $400. On 1 April 2012 Wayne had prepaid one month's rent. During the year ended 31 March 2013 he paid ren...
During the year CN Ltd wrote off an unpaid invoice of $540. Which entries should CN Ltd make at the end of the financial year?
Which is a capital receipt for Susan who owns a shoe shop?
Capital expenditure is treated in error as revenue expenditure. What effect will this have?
Imran depreciates his machinery at 20% per annum using the diminishing (reducing) balance method. His financial year ends on 31 July. On 1 August 2...
A machine was purchased for $100000 and depreciated by 20% per annum using the straight line method. Three years later it was sold for $25000. What...
Expenses accrued, $250, were treated as a prepayment in the income statement. What effect did this have on the profit for the year?
Which would be included in a sales ledger control account?
Tim's gross profit was $32000. Opening inventory was $8000, purchases were $52000 and closing inventory was $10000. How much were the sales?
Rashid runs an advertising agency. He provided the following information. Amount owed by clients at start of year $100 Amount received from clients...
At the end of the financial year, a trader is owed commission. How will this be treated in the trader's financial statements?
At the end of a club's financial year, some members' subscriptions were unpaid. Where would these unpaid subscriptions appear in the club's financi...
A trader's sales were $300000. The mark-up was 25%. What was the cost of sales?
Which does not appear in the appropriation account of a limited company?
Which is a direct cost to a manufacturer?