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.
Vivek provided the following information for the month of April. increase in trade payables during the month $670 amounts paid to credit suppliers...
A limited company provided the following information. January 1 ordinary shares of $1 each 200 000 retained earnings 12 000 December 31 profit for...
Martha received gross pay of $1000 per month. Her employer provided the following information. employee's social security contribution 10% employe...
A company provided the following information about its current ratio. Year 1 2.3:1 Year 2 2.4:1 Year 3 2.5:1 What would explain the changes in th...
What is the going concern principle?
The payment of an insurance premium was entered in the cash book and in the insurance account. Which accounting principle was applied?
Sarah sells goods on credit to Zafar. How is this recorded in Sarah's ledgers?
Gail's statement of financial position included the following. $ non-current assets 100000 current assets 50000 current liabilities 2000 What w...
A trader received his monthly bank statement. Which item(s) may have appeared on this statement? 1 bank charges 2 credit transfers 3 unpresented ch...
The following account appeared in the books of Mary. Paul account 2015 Debit $ Credit $ Balance $ April 1 Balance 90 90 Dr 14 Sales 150 240 Dr 21 R...
Which error would be revealed by a trial balance?
Ali's financial year ends on 31 March. During the year ended 31 March 2015 Ali paid wages of $42500. On 31 March 2015 $1400 wages were accrued. Whi...
At the end of the financial year, Ryan had accrued motor expenses of $200. How will this appear in Ryan's ledger and statement of financial position?
At the end of her financial year Annie decided to reduce her provision for doubtful debts. Which entry recorded this?
Which transaction is a capital receipt?
Sara started a business on 1 January 2013 and purchased equipment costing $10000. She depreciated the equipment by 20% per annum using the straight...
The totals of a trial balance failed to agree by $680 and the difference was entered in a suspense account. It was then found that rent received ha...
Why does a trader prepare a sales ledger control account?
The owner of a business took goods for his own use but failed to make an entry in the accounts. What was the effect of this error?
The financial year of Tony and Paul ends on 30 April. On 1 May 2015 Tony had a debit balance of $5000 on his current account. What does this mean?
Omar started a business but did not maintain any accounting records. Which item(s) are included in a calculation to find credit purchases for his f...
Which statement applies to preference shareholders?
A limited company provided the following information. $ January 1 ordinary shares of $1 each 200 000 retained earnings 12 000 December 31 profit...
Raminder, a manufacturer, provided the following information for the year ended 30 April 2015. $ cost of materials used 54 000 factory overheads ...
Heng is paid a basic wage of $6 per hour for a 40 hour week. Any overtime is paid as follows: Monday to Saturday: time and a quarter Sunday: double...
A business provided the following information. $ cost of sales 60 000 gross profit 40 000 expenses 25 000 What was the profit for the year as a...
A payment made from the business bank account for petrol for the owner's private car is not included in the income statement. Which accounting prin...
'A business's financial statements should include all the costs and income for the period to which they relate.' Which accounting principle is refe...
What is the purpose of international accounting standards?
Mira prepared a trial balance using the following information on 31 March 2015. The trial balance failed to balance. Office fixtures (at cost) Off...
The following information was obtained from the books of Arden. 1 February 2015 Trade receivables balance Trade payables balance $ 14 900 Dr 171...
Warle Limited provided the following information after the calculation of the profit for the year ended 30 April 2015. Profit for the year ended 3...
John provided the following information for the year ended 31 March 2015. Revenue Inventory 1 April 2014 Inventory 31 March 2015 Expenses Owner's ...
The following balances were extracted from the books of Spiron Manufacturing on 30 April 2015. Factory machinery (cost) Office fixtures (cost) Pro...
The following balances were available from the books of Priya on 1 April 2015. Putil $3000 credit Wages $1750 debit The following transactions took...
Atto Electrical had the following non-current assets on 31 March 2013. Net book value $ Premises (cost $50000) 48000 Motor vehicles (cost $16000) 1...
The following information is available for the Axton Chess Club. Receipts and Payments Account for the year ended 31 March 2015 $ $ Balance b/d 1 A...
Xever provided the following information for the year ended 31 March 2015. $ Capital 40000 Bank loan (repayable 1 Jan 2020) 10000 Inventory 1 Apri...
Farah and Hana are in partnership. The partnership agreement states that they share profits and losses equally. Interest on capital is allowed at t...
Which task would not be carried out by a book-keeper?
Goods purchased by Anna from Winston were returned before they were paid for. Where will Anna record the return of goods?
Aldo buys and sells goods on credit. A cheque received by Aldo was dishonoured by the bank. How would he record this dishonoured cheque?
Waseem received a bank statement. He found that the bank had charged interest twice in error and that a dividend had been received on an investment...
The following account appeared in Amna's ledger. [Syed account table: Sept 1 Balance b/d $400 dr; Sept 14 Sales $600 debit, $1000 dr; Sept 26 Bank ...
A trial balance did not balance. Which error caused this?
Alice's financial year ends on 31 December. The balances in her books on 1 January included the following. [Table: commission received $250 dr, ren...
Motor repairs, $250, have been posted in error to the motor vehicles account. What is the effect on the financial statements?
A business allowed Lee, a customer, $40 cash discount. The discount was entered in the discount allowed account but omitted from Lee's account. A s...
A trader provided the following information. [Table: Feb 1 sales ledger control account balance $6320 dr; Feb 28 sales journal total $51200; sales ...
A trader provided the following information. [Table: non-current assets $137000; current assets $44500; current liabilities $18000; non-current lia...