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 following information was available for the disposal of a machine. $ accumulated depreciation 45000 profit on disposal 8100 sale proceeds 75600...
A printing company installed a large printing press. Which costs are capital expenditure in the first year of its operation? 1 installation of the ...
The year-end balance in the cash book was $23780. This was different from the balance on the bank statement. The difference was due to the followin...
At the end of the year, the balance on a firm's sales ledger control account was $12900. The total of the customers' accounts in sales ledger was $...
A suspense account has a balance of $450 debit. What has caused this balance in the suspense account?
An item of capital expenditure has been incorrectly treated as revenue expenditure in the financial statements of a business. What is the effect of...
A company pays or receives the following amounts on the last day of its financial year. $ deposit paid to a supplier 6500 rental income received in...
A sole trader provides the following information. start of year end of year $ $ total assets 100000 135000 total liabilities excluding owner's capi...
A trader did not keep full accounting records. The following information was available for 2015. $ trade payables on 1 January 32785 trade payables...
A partnership admits a new partner. Which statement is correct?
X, Y and Z are in partnership sharing the profits and losses in the ratio of 2:2:1. At 31 December the following information is available. X Y Z $ ...
The following information relates to a partnership. $ profit from operation 90000 loan interest 3200 interest on drawings 6000 drawings 40000 inter...
A partnership earned an average profit during the year of $15000 per month. Halfway through the year D and E were joined by a new partner F and pro...
How would a transfer to general reserve and the issue of shares at a premium affect the revenue reserves of a limited company? transfer to issue of...
A company is formed with the issue of 100000 6% non-cumulative preference shares of $1 each and 300000 ordinary shares of $1 each issued at a premi...
Which action will increase the equity of a limited company?
Which action leaves the value of working capital unchanged?
Owusu Limited has a constant level of annual sales and a constant gross margin. Each year the inventory increases. Which effects does this have on ...
A business uses the AVCO method of inventory valuation. The following transactions took place. 1 March purchased 1000 units at $65 per unit 2 March...
A manufacturing company employs 20 workers who are paid a basic rate of $30 per hour for a 40-hour week. To meet a special order, the workers each ...
A manufacturing business is currently operating at full capacity. As part of an expansion programme to increase production capacity, the business i...
In a manufacturing business the following could occur. 1 Actual overheads paid are less than budgeted overheads. 2 Actual overheads paid are more t...
A company makes and sells a single product for $12 per batch. The variable cost is $4 per batch. Fixed costs have been absorbed based on a normal a...
The following information was provided about a product. selling price per unit $50 variable cost per unit $26 total fixed costs $10000 demand 1800 ...
A business that uses flexible budgets shows the following: units of output 100 000 110000 total fixed and variable costs $400000 $425000 What are f...
A company makes a product for which the following information is given. per unit $ selling price 100 direct materials 40 direct labour 30 Total fix...
What is the objective of a system of budgetary planning and control?
Which item is classed as revenue expenditure?
What is the purpose of depreciation?
A company's year end is 30 April. It purchases a factory in May 2014 at a cost of $200000. The factory will be depreciated over 20 years. A full ye...
A business has a year end of 31 December. It purchased a non-current asset on 1 January 2014 for $100000. It was depreciated using the reducing bal...
Why does a business keep a sales ledger control account? 1 It helps deter fraud. 2 It helps with the preparation of financial statements. 3 It iden...
A sales ledger control account had a debit balance of $38600. The total of individual sales ledger debit balances was $36500. The only errors found...
The following information is available. [Table: provision for doubtful debts at the beginning of the year $6250, trade receivables at the end of th...
At 31 December the following information is available about a company's banking transactions. [Table: balance at bank per bank statement $22650, un...
Hedley has 100 items of inventory in his warehouse and five more with a customer on a sale or return basis. He provides the following information. ...
A business does not keep complete accounting records. The following information is known for the year. [Table: capital at start $52000, capital at ...
A business has 500 items of inventory at a cost price of $3 each. The selling price per unit is based on a mark-up of 20%. Before sale, the items n...
The following information is available for the year ended 31 December 2016. [Table: revenue $75000, purchases $32000, carriage inwards $5400, carri...
A partnership maintains capital accounts and current accounts. Which statements are correct? 1 The capital accounts show the total amount owed to e...
X, Y and Z had been in partnership, sharing profits and losses in the ratio of 2:2:1. On 1 January 2017, Y retired. The balances of his capital and...
S and T are in partnership, sharing profits and losses in the ratio 2:1. The balances on their capital accounts at 31 March 2017 were: [Table: capi...
A partnership provides the following financial information for the year ended 30 June 2017. [Table: profit from operations $240000, bank interest p...
Which accounting entry could record the issue of bonus shares? [Table: debit, credit, A bank, share capital, B general reserve, share capital, C ge...
From which accounts can a company pay dividends? 1 general reserve 2 retained earnings 3 revaluation reserve 4 share capital
A company provides the following data on 1 January 2016. [Table: 10% debentures (2020) $200000, bank loan (2017) $130000, bank loan (2018) $10000, ...
Calculation of which ratio does not include revenue?
Bradshaw does not keep proper books of account. The following information is available for the year. [Table: cost of sales $750000, mark-up 20%, ca...
The financial statements of a company showed the following. [Table: current liabilities $15000, non-current liabilities $40000, ordinary shares $12...
Which item is an indirect cost?