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 accounting year end of a business is 31 October. On 1 April the business rents out part of its warehouse for an annual rent of $6000. Payments ...
A business paid $15000 for electricity in the year. The opening prepayment was $1000 and the closing accrual was $2000. What was the charge for ele...
A business makes a provision for doubtful debts equal to 5% of its debtors. At 31 March 2008 the provision for doubtful debts was $850. At 31 March...
A business is separate from its owner. This results in only business transactions being recorded in the accounts. Which accounting principle applies?
At 31 March the balance sheet of a company included the following. $ trade debtors 23 000 provision for doubtful debts 1 200 During April credit sa...
Stock has been damaged. The stock cost $1200. It would normally have sold for $1800. It can be sold for $1700 if repairs are undertaken at a cost o...
A business has discovered several errors in its sales ledger. All the accounts in the other ledgers have been entered correctly. Which error will n...
A trial balance fails to agree and the bookkeeper finds the following errors. 1 A bank overdraft of $100 was shown as a debit in the trial balance....
A new business was established with opening capital of $15 000. At the end of the year net assets were $20 000. During the year the proprietor's dr...
The financial year of a manufacturer ends on 31 December. Finished goods are valued at factory cost plus 20%. The following information is availabl...
The stock records of a business show the following information for product X during January. 1 Jan opening balance amount in units 200 cost per uni...
The summarised balance sheets for a business for two years are as follows. year 1 $ year 2 $ fixed assets 9 000 12 000 current assets 6 000 8 000 l...
X and Y are in partnership. Their profit and loss appropriation account shows the following. X $ Y $ total $ interest on capital 1 600 1 800 3 400 ...
An extract from the accounts of a manufacturing company shows the following. $ depreciation of factory machinery 16 700 direct factory labour 476 2...
An extract from a company's balance sheet is given. $000 issued ordinary share capital 250 issued preference shares 180 profit and loss account 320...
An extract from a company's balance sheet shows the following. $000 issued ordinary shares of $0.25 each 600 share premium account 150 retained pro...
A company's Balance Sheet at 31 December 2008 includes: $ Ordinary shares of $1.00 12 000 Profit and Loss Account 4000 In January 2009, the company...
What will result in a reduction of working capital?
A bank manager has reviewed the financial statements of a business. He notes that the liquidity ratio has fallen but that the sales for the year ha...
The following information relates to the final accounts of a business. $000 opening stock 2 470 closing stock 2 156 cost of sales for year 12 500 s...
A company has a share price that gives a dividend yield of 4%. Earnings per share are $0.32 and half the earnings are paid out as dividends. What i...
When are the reported profits under marginal costing and absorption costing principles the same amount?
Which cost will fall as production is reduced?
A business uses job costing to calculate the cost of vehicle repair jobs. Overheads are allocated on an absorption costing basis. What is the effec...
A company has a product which sells for $1 per unit. The variable costs are $0.60 per unit, and production of 200 000 units is planned. Fixed costs...
How is total contribution calculated?
In January, a business had opening stocks of 25 200 units and closing stocks of 28 200 units. The profit calculated on marginal costing principles ...
The table shows balances at the end of a year. $ expenses prepaid 6 000 expenses accrued 4 000 bank overdraft 11 500 trade creditors 13 400 trade d...
On 1 January 2009 a business had prepaid rent of $50. During 2009, three rent payments were made of $250 each. On 31 December 2009, the business st...
A customer paid a deposit in advance for goods to be supplied at a later date. How should this be recorded in the seller's books? [Table showing d...
Non current (fixed) assets of a company were: [Table showing start of year and end of year values for at cost, cumulative depreciation, net book v...
At 30 June the balance sheet of a business includes the following. [Table showing trade receivables (debtors) $46 000 and provision for doubtful d...
Closing inventory (stock) has been overvalued. What is the effect on the financial statements? [Table showing effects on net current assets and ne...
The trade receivable (debtors) control account of Y shows a balance of $14 320. Customer X, who owes Y $1000, has also supplied Y with $400 of good...
An electricity accrual of $375 was treated as a prepayment in preparing a trader's income (profit and loss) account. What was the effect on profit?
At the end of a financial year the following information is available. [Table showing sales $200 000, opening inventory (stock) $15 000, closing i...
For the eleven months ended 31 August 2009, snack bar takings were correctly recorded at $109 340. For September 2009, the snack bar takings were m...
Information relating to a club's subscription is: [Table showing received during the year $20 000, paid in advance in the previous year $2 000, pa...
X and Y are in partnership, sharing residual profits and losses equally after the payments below are made. 1 2% interest is charged on partners' dr...
The table shows data for a manufacturing company for a year. [Table showing office salaries $34 500, factory wages $115 000, depreciation on plant...
A company has the following current assets and current liabilities. [Table showing bank deposit account $6 000, bank overdraft $4 500, loan intere...
X started a business 3 years ago and now has a capital of $175 000. Over that period his profits have been $73 000 and his drawings $52 000. In yea...
A business has two departments, men's clothing and ladies' clothing. The following information is available. [Table showing sales assistants, floo...
A company makes a bonus issue of shares. What is the effect on the net assets and the reserves in the balance sheet? [Table showing effects on net...
The table shows extracts from the trial balance of a company at 31 December 2009. [Table showing ordinary share capital $750 000, 8% preference sh...
A company's share capital and reserves are: [Table showing non current (fixed) assets $250 000, net current assets $125 000, total $375 000; and s...
A business has current liabilities of $4000 at its year end. The quick (acid test) ratio is 1.5:1 The current ratio is 2.25:1 What is the value of ...
A company's gross profit ratio for the year ended 31 December 2008 was 25%. This increases to 28% for the year ended 31 December 2009. What could h...
A business has the following assets and liabilities. [Table showing non current (fixed) assets $420 000, inventory (stocks) $120 000, trade receiv...
The table shows the year end information for three companies. [Table showing company X with sales $500 000, operating profit as % of all sales 15,...