Cambridge Past Paper Questions
Browse 23,045questions from 25 years of O-Level & A-Level exams. Click any question to practice.
What is correct about a bank reconciliation statement? | | prepared by the bank | prepared by the trader | part of double entry book-keeping | |---...
Which transaction is recorded in the general journal?
The following account appeared in Sue's ledger. Tony account: | May 1 balance b/d | $400 | May 16 returns | $21 | | 12 sales | $590 | 28 bank | $28...
Mark sold goods on credit to Paul for $5000. Paul returned goods costing $200 to Mark. What were the balances in Paul's ledger accounts after these...
Elizabeth issued an invoice to Jane for $500 on 1 February. On 30 April Elizabeth received $300 from Jane. She wrote off the remaining balance on 2...
Which are examples of capital receipts? 1 a loan received from a bank, repayable in three years' time 2 a profit made on the sale of a non-current ...
A business purchased a motor vehicle and included it as a business expense in the income statement. How did this affect the financial statements? |...
A café owner decided to use the revaluation method to calculate depreciation on the kitchen equipment. Kitchen equipment costing $3200 was purchase...
Imran's financial year ends on 31 December. A machine purchased on 1 January 2015 for $20000 was sold on 30 June 2017 for $8500. The machine had be...
Anita's business has two departments, X and Y. She provided the following information for department X. Expenses $28000 Profit for the year $9000 T...
David provided the following information. Capital employed $435000 Non-current assets $200000 Current liabilities $124000 What was the total of his...
Gurpreet is a broker and receives a commission from an insurance company when a client purchases a car insurance policy. The following information ...
What is the disadvantage to a sole trader of bringing in a partner?
A club had an accumulated fund at the start of the year of $18000 and at the end of the year of $16200. Total running costs for the year were $9550...
A trader has not kept proper accounting records for his business. What will he use when calculating trade payables at the end of the year?
The issued share capital of CD Limited consists of ordinary shares. Retained earnings were $86000 on 1 September 2016 and $88500 on 31 August 2017....
A manufacturer provided the following information at the end of his financial year. Prime cost $98400 Factory overheads $17800 Work in progress at ...
Which document shows employees the details of deductions made from their wages?
What is not included when calculating the quick ratio (acid test ratio)?
Aqil had the following assets and liabilities on 1 May 2017. Amount owing to Weston Water Supplies $700 Inventory $2250 Bank $90 Credit 5% Bank loa...
The following information relates to the machines of Crosby Packing. 1 January 2014 Purchased Machine A for $12 000 30 September 2015 Purchased Mac...
The following balances were extracted from the books of Digby Products for the year ended 31 March 2017. $ Inventory at 1 April 2016 Raw materials ...
The trial balance of Juan, after preparing the trading account section of the income statement, was as follows: Juan Trial Balance at 30 April 2017...
Khayla is a sole trader. The following balances were extracted from the books on 30 April 2017. $ Revenue 447000 Purchases 204 400 Returns inwards ...
On 1 September 2017 the balance of the bank column in Keung's cash book was $1900 debit. The transactions for the month of September 2017 were: Se...
Hannah prepared a trial balance but its totals did not agree. A suspense account was opened. She later discovered the following errors: 1 Rent rec...
The Puxton Social Club provides social facilities for the local community. The treasurer provided the following information: 1 Balances on 1 Octob...
Zara provided the following information: At 1 August 2016 Inventory $19700 For the year ended 31 July 2017 Cost of sales $240000 Expenses $65000 ...
Jian and Shen are in partnership sharing profits and losses in the ratio 3:1. Interest is allowed on capital at the rate of 5% per annum and is cha...
A trader invested $4000 into the business. $2000 was used to pay a credit supplier. The rest of the money was paid into the business bank account. ...
Wilma bought 55 items from Margot at a list price of $40 each, subject to a 15% trade discount. Wilma later returned 25 items as they were faulty. ...
The bank agreed to allow Dan an overdraft with a limit of $500. What did this mean?
On 30 September 2018, Ahmed's bank statement showed a credit balance of $2500. Ahmed found that a cheque issued for $90 and a deposit of $500 had n...
Which statement about a debit balance brought down on a ledger account is not correct?
On 1 September 2018 Chan owed Tan $570. During September 2018 the following transactions took place. Tan sold goods, $380, on credit to Chan Chan r...
Which name is given to a statement of ledger balances on a particular date?
The balance of which account will appear in the debit column of a trial balance?
Ella rents business premises. She owed rent at both the start and the end of the financial year. How can rent payable for the year be calculated?
Leroy has an engineering business. On 31 May he received an invoice from AB Machines showing the following: cost of replacement parts for machine c...
Why is depreciation charged on a non-current asset?
Chris purchased a machine costing $15000 on 1 January 2016. He depreciates the machine using the diminishing (reducing) balance method at 20% per a...
Hossam took out a 5-year bank loan on 1 January 2018. All of the money borrowed was used to purchase a delivery van. Under which heading will these...
Beth provided the following information at 31 December 2017. $ capital 1 January 2017 26000 profit for the year 3600 drawings 2500 long-term loan ...
Which businesses do not prepare a trading account section of an income statement? 1 furniture store 2 gym 3 newsagent 4 toy shop 5 window-cleaner
The following entries appeared in a trader's ledger. Dr. drawings account Cr. $ $ purchases 200 Dr. purchases account Cr. $ $ drawings 200 Which tr...
X and Y are sole traders. They decided to form a partnership. Which group contains only disadvantages of forming a partnership?
At the end of the financial year a sports club owed rent for the clubhouse. Some members had paid their subscriptions in advance for the following ...
Tariq provided the following information. 31 August 2017 $ 31 August 2018 $ non-current assets 60000 70000 current assets 20000 25000 current liabi...
A business provided the following information. opening inventory $8000 closing inventory $10000 rate of turnover of inventory 12 times mark-up 50% ...
A manufacturing business provided the following information. $ prime cost 250 000 factory overhead expenses 50000 office and selling expenses 2500...