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.
How is working capital calculated?
Leroy sublets part of his premises to Boris. How can Leroy calculate the rent receivable for the year?
Which group of items appears in a partnership appropriation account?
Fran and David are sole traders. They agree to amalgamate their businesses and to share profits and losses equally. Fran's goodwill was valued at $...
What may appear in the income and expenditure account of a sports club?
A sports club provided the following information. [Table: subscriptions received during the year $12000; subscriptions owing at the start of the ye...
A trader supplied the following information. [Table: capital at start of the year $30000; capital at end of the year $50000; drawings during the ye...
What is mark-up?
Which item is directly affected by the dividend policy of a limited company?
A limited company provided the following information. [Table: issued share capital – 50000 ordinary shares of $1 each $50000; profit for the year e...
A manufacturer provided the following information. [Table: cost of raw materials consumed $20000; direct wages $10000; light and heat $5000; machin...
At the end of the financial year a manufacturer had inventory of finished goods, raw materials and work-in-progress. Which inventories will appear ...
Dhoni's basic pay is $4 per hour. He is paid overtime as follows. Saturday: time and a half Sunday: double time Dhoni worked 6 hours on Saturday an...
An employer deducts income tax from staff wages each week and pays it to the government once a month on the last day of the month. What does the en...
A company provided the following information. [Table: revenue $500000; opening inventory $35000; purchases $310000; closing inventory $45000; cost ...
Omar purchased land ten years ago for $25000. He has been offered $60000 for the land. He thinks that the land may now be worth $100000. At what va...
Which statement is not true about reasons for using international accounting standards?
The following account appeared in Amna's ledger. Syed account date | details | debit $ | credit $ | balance $ Sept 1 | Balance b/d | | | 400 dr 14 ...
A trader provided the following information. Feb 1 sales ledger control account balance $6320 dr Feb 28 sales journal total $51200 sales returns jo...
A trader provided the following information. non-current assets $137000 current assets $44500 current liabilities $18000 non-current liabilities $1...
A sports club provided the following information. subscriptions received during the year $12000 subscriptions owing at the start of the year $1200 ...
A trader supplied the following information. capital at start of the year $30000 capital at end of the year $50000 drawings during the year $12000 ...
What is mark-up?
A limited company provided the following information. issued share capital – 50000 ordinary shares of $1 each $50000 profit for the year ended 30 A...
A manufacturer provided the following information. cost of raw materials consumed $20000 direct wages $10000 light and heat $5000 machinery repairs...
Dhoni's basic pay is $4 per hour. He is paid overtime as follows. Saturday time and a half Sunday double time Dhoni worked 6 hours on Saturday and ...
A company provided the following information. revenue $500000 opening inventory $35000 purchases $310000 closing inventory $45000 cost of goods sol...
Faara had the following assets and liabilities on 1 May 2015. $ Inventory 2850 Trade receivable - Jaafar 600 Other payables – Electricity 200 Bank...
The following balances were recorded in the books of Sofea on 1 March 2015. Motor vehicles account (at cost) $ 50000 Motor vehicles – provision fo...
Alif is a trader. He does not maintain a full set of accounting records but the following information is available. 1 Summarised bank transactions...
Lache's accounting year ends on 31 December. The following information is available. 2015 $ 2014 $ Revenue 750000 600000 Expenses 200000 175000 P...
Suria is in business as a sole trader. The following balances were extracted from her books on 31 March 2016. Revenue $ 287000 Purchases 143800 Re...
Faara had the following assets and liabilities on 1 May 2015. Inventory $ Trade receivable - Jaafar ...
Lache's accounting year ends on 31 December. The following information is available. | | 2015 | 2014 | |:---|:---|:---| | | $ | $ | | Revenue | 75...
What is a disadvantage of a computerised book-keeping system?
A trader provides the following information. equipment 10000 inventory 4000 trade receivables 2500 trade payables 3500 insurance prepaid 100 rent ...
James bought a motor vehicle costing $10000 from GF Motors. He paid $2000 by cheque. The balance was to be paid over the next two years. How was th...
Sara purchases goods on credit from Zola. Sara owed Zola $400 on 1 May. She paid this on 1 May after deducting a 5% cash discount. Sara made furthe...
A business provided the following information for April 2017. invoices received for credit purchases 250 000 invoices received for cash purchases ...
Sukesh's account in the books of Jack showed the following. Sukesh account date debit $ credit $ balance $ May 1 balance 450 dr 4 sales 200 650 ...
Liam rents premises from Gavin. In March Liam paid the rent in advance for April and May. How would the balance on 1 April appear in their ledgers?...
Ahmed decided to write off an amount owing from Yasmin as a bad debt. Which entries will Ahmed make? when the debt is written off account to be de...
An item of capital expenditure has been incorrectly treated as revenue expenditure. What is the effect of this error? assets profit for the year A...
A business sells a machine which has been depreciated over several years. Which entry records the transfer of depreciation to the machinery disposa...
The following account appeared in a trader's ledger. Provision for depreciation of machinery account $ $ 31 Dec 2015 balance c/d 3000 31 Dec 2015...
What would not appear in a sales ledger control account?
A business has two departments, X and Y. The total revenue was $120000 of which 60% related to department X. The total cost of sales was $90000 of ...
On 1 April a business had a working capital of $6000. On 2 April $1150 was received from credit customers in settlement of debts of $1200. On the s...
Seema is a business consultant. She provided the following information at the end of her first financial year on 30 April 2017. fees earned during...
At the end of Carl's financial year he made an adjustment for $40 rent owed by his tenant. How did this adjustment affect Carl's financial statemen...