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.
A cricket club provided the following information. at 1 August 2021 balance at bank $950 during the year ended 31 July 2022 net receipts from compe...
A food processing factory fills cans with vegetables. The filled cans are then sold to shops. Which wages are direct labour costs for the factory? ...
Thembi manufactures wooden toys. She provided the following information for the financial year ended 31 August 2022. prime cost $35000 factory over...
Chan provided the following information. 1 October 2021: non-current assets $10000, inventory $2500, trade receivables $1500, bank overdraft $800, ...
How can a trader increase her current ratio?
The application of which accounting principle makes it easier to compare financial statements year-on-year?
What does the principle of prudence ensure?
BC a sole trader prepared the following trial balance from his accounts on 31 August 2022. Dr Cr ...
MC is a trader who maintains a full set of accounting records and prepares control accounts at the end of each month. MC has provided the followin...
MG has been in business for a number of years as a furniture manufacturer. On 31 August 2022 the bank column of his cash book showed the business h...
PG a trader sells electrical components. She has provided the following information for the year ended 31 July 2022. Sales journal for the year en...
Sian and Tom are in partnership sharing profits and losses in proportion to capital invested. The partnership agreement states the following: 1 int...
Anika owns property which she rents out to university students. She has made a consistent profit for each year she has been in business. Her trial ...
Rasheed started a business on 1 October 2021. He maintains a petty cash book in the business. A monthly imprest of $100 is restored on the first da...
The following balances have been taken from the accounts of RB, a trader. 1 April 2021 31 March 2022 ...
The following information is taken from the statement of financial position of C Limited at 1 September 2021. ...
NT started in business on 1 September 2020. All sales are on credit and payment is required from customers within 25 days. On 5 May 2021, LW a tra...
Which actions are examples of book-keeping? 1 entering details of a cheque received from a customer in the cash book 2 entering details of goods pu...
A trader supplied the following information at her year end. $ non-current assets 4000 inventory 350 trade receivables 180 cash at bank 650 debit t...
A trader, Karim, purchases a new vehicle by cheque. He will use the vehicle to deliver goods to his customers. How should Karim record this transac...
The following ledger account was in Meena's sales ledger. $ $ Jan 1 balance b/d 100 Jan 15 bank 100 Jan 31 balance c/d 20 Jan 30 sales returns 20 1...
Which document would a supplier issue to a credit customer if the credit customer had returned goods or had been overcharged?
Andy was a regular customer of Khalid. He bought goods with a list price of $1000 and later paid $760 in full settlement after receiving a discount...
The totals of a trial balance agree. What does this mean?
A cheque received from Joe was credited to Joanna's account. Which type of error was made?
A trader's journal shows the following entry. details debit $ credit $ John 300 Jane 300 correction of error Both John and Jane are credit customer...
A trial balance does not balance and a suspense account is opened. It is found that a sale of $250 was credited in the sales account as $2500. Whic...
A cheque received from D Pawson, a trade receivable, was correctly debited to the bank account but was credited to the account of P Dawson, a trade...
The balance of the bank column in a trader's cash book was $520 debit. The trader later discovered that the following items did not appear on his b...
When preparing a sales ledger control account, what is the source of information for amounts received from credit customers?
Plant and machinery, $2000, was incorrectly posted to the credit side of the purchases account. The draft profit for the year was $63000. Ignore de...
Why are non-current assets depreciated? 1 to avoid overstating the value of non-current assets 2 to charge the cost of an asset as an expense over ...
On 1 January, Raheem purchased equipment costing $850. It was estimated to have a working life of 5 years and a scrap value of $50. The asset was d...
Imran maintains a provision for doubtful debts of 5% of the trade receivables at the end of each financial year. The balance on his provision for d...
Ariadne prepares her financial statements to 31 December each year. She valued all her inventory at cost on 31 December 2021, even though some inve...
A trader has capital of $24400. His non-current assets are $16100 and his current liabilities are $4500. There are no non-current liabilities. What...
At 1 January 2022, there was a credit balance of $800 on the electricity account. Payments made during the year totalled $4900. At 31 December 2022...
Josh and Karen are in a partnership sharing profits and losses 3:2. Interest on capital is allowed at 5%. Salary payable to Josh is $10000 per annu...
A partner is charged interest on the drawings he made during a financial year. How is this recorded in the partner's accounts?
Which organisation is the most difficult to establish and has to comply with many legal formalities?
Z Limited has the following types of equity and liabilities. 1 debentures 2 general reserves 3 long-term bank loan 4 ordinary share capital 5 prefe...
A sports club operates a shop selling running shoes to members. These shoes are purchased on credit terms from suppliers. Which item is recorded in...
Which cost is a direct factory cost?
A manufacturing business provided the following information. $ closing work in progress 840 factory overheads 20 945 opening work in progress 910 p...
Elaine is starting a business. She wants to make sure she doesn't miss out on any cash discount which is offered to her. Which action would help he...
Ahmed provided the following information. $ trade receivables at 1 January 2022 15000 for the year ended 31 December 2022: credit sales 85000 cash ...
A business provided the following information. revenue $20000 gross margin 25% profit margin 10% There was no other income. How much were expenses?
A business has the following assets and liabilities. $ inventory 2000 trade receivables 4000 trade payables 1100 bank overdraft 3100 The owner plan...
Lynne provided the following information about her trading business. $ for the year ended 31 August 2023 revenue: cash sales 250 000 credit sales 2...
A trader values his inventory on the same basis at the end of each financial year. Which accounting principle is the trader observing?