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.
The table gives information relating to the non-current assets of a business. $ net book value at the end of the year 25000 net book value at the ...
The accounting year of a company ends on 31 December. It purchased a warehouse for $100000 on 1 January 2013. The warehouse had an estimated useful...
A company prepared a sales ledger control account. The balance did not agree with the total of the sales ledger balances, which were $42650. The fo...
The correction of which error would require an entry in the suspense account?
The table shows information for a business at 31 March 2019. $ inventory 16 100 trade payables 5200 other payables 2000 The information excludes ...
A business has valued some of its closing inventories at cost. Their net realisable value is lower than cost. What is the effect of this error on ...
The following balances were extracted from a trial balance at 31 March 2019. $ total trade receivables 84 600 provision for doubtful debts at 1 Ap...
A business had the following assets and liabilities at the start of the year. a motor car valued at $2500 inventory which cost $4000 with a sales ...
A sole trader had the following transactions. $ returns outwards 2750 carriage inwards 4820 goods for own use 1460 What was the total effect of t...
A sole trader's personal expenses had been paid out of the business bank account and included in his income statement. What was the effect of this...
A warehouse was damaged by fire on 31 March and some of the inventory was destroyed. The following information is available. $ inventory at cost o...
P and Q are in partnership. R was admitted as a partner on 1 July 2018, and the profit and loss sharing ratio among P, Q and R was 2:2:1 respective...
Hilary and Lee commenced in partnership on 1 January 2018. There was no partnership agreement. They provided the following information. Hilary Lee...
L, M and N are in partnership sharing profits and losses equally. L retired when the credit balances on her capital and current accounts were $100...
The directors of a limited company recently made a rights issue of one ordinary share for every three held at a premium of $0.50 per share. The rig...
A company's year end is 31 December. During the year ended 31 December 2018 it paid the following dividends: $ final dividend for the year ended 3...
Which information would an investor gain by looking at the financial statements of a business? 1 identifying future trading prospects 2 identifyin...
The following information is available for a limited company. $ profit from operations 40475 profit for the year 26380 10% debenture (2025) 75000 ...
A manufacturing business has provided the following information about a product. units produced total cost $ 8000 37000 14000 53 500 What is the ...
The following information relates to the inventory of a business. date purchases unit cost sales unit selling price 2 June 1000 units $12 12 June ...
Inventory cost prices are rising for a business. The company uses AVCO rather than FIFO to value its inventory. What is the effect on inventory va...
A company calculates its profit using marginal costing as $90000 for a month. Opening inventory was 4000 units and closing inventory 6000 units. ...
A manufacturing business has provided the following information. budgeted labour hours 12000 budgeted overhead absorption rate $7.50 per labour ho...
A business has the following information relating to its single product. $ selling price per unit 30 variable cost per unit 14 total cost per unit...
A company makes three products for which the following details are given. product X product Y product Z $ $ $selling price per unit 40 48 72 direc...
Last month a company made and sold 10000 units and earned a contribution of $20 per unit. Its final profit, after deducting total fixed costs, was...
Which statements about cost-volume-profit analysis are correct? 1 Fixed costs remain constant over a range of activity. 2 Profits are calculated o...
Why do businesses prepare budgets? 1 to communicate plans 2 to improve coordination 3 to plan annual operations 4 to plan long-term strategies
The inclusion of unpaid loan interest in financial statements is in accordance with which accounting concept?
What is depreciation?
A trader depreciates fixtures and fittings at the rate of 10% per annum on cost. On 1 January 2019 a purchase of new fixtures and fittings, $5000, ...
A company had a non-current asset which cost $370000. The asset had a 10-year useful life and an estimated residual value of $20000. A full year's ...
Which item is recorded on the debit side of a sales ledger control account?
A trader prepared a trial balance which did not balance. The difference was posted to a suspense account. The following errors have now been found....
How could a credit entry of $500 in X's account have arisen in the books of account of Y?
An invoice for purchases was credited to the purchases account. How will the balance on the purchases account be corrected?
Rent is paid by a business monthly in advance on the first day of each month. The payments during a financial year were as follows. up to and inclu...
What is the effect on profit for the year and net assets when accrued expenses are understated?
Ali's trade receivables at 31 December 2019 were $26500. He knew that $400 of these were irrecoverable. He wished to maintain a provision for doubt...
Adil and Bashir were in partnership sharing profits and losses in the ratio 2:1. Chandra joins the partnership and profits and losses are now to be...
How is a loss on realisation recorded when a partnership is dissolved?
John and Brian are in partnership sharing profits and losses equally. John receives a salary of $2000 per annum. Brian loaned the business $5000. H...
A company issued 100000 ordinary shares of $1 each at a premium of $2. The market value was $4 per share. Which statement is not correct?
Which item has no effect on the total equity of a limited company?
Information relating to W Limited for the year ended 31 December 2019 was as follows: $ retained earnings at 1 January 2019 22000 profit from ope...
Which financial information is not available for potential shareholders of a limited company?
The following information is available. $ $ revenue 600 000 opening inventory 46000 purchases 244 000 290 000 closing inventory 50 000 ...
A company's financial statements for the year ended 31 December showed the following: $ issued share capital 150 000 non-current liabilities 280 ...
Which cost can be classified as a fixed cost?
An employee works a 40-hour week at an hourly rate of $8. She receives a bonus of 30% of the hourly rate for time saved producing each unit. The ta...