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.
Gurmit agreed to admit Balbir as a partner from 1 January 2017. A value of $4000 was agreed as goodwill of Gurmit's business. Why was the goodwill ...
Which item may appear on the debit side of a partner's current account?
The financial year of a club ends on 30 April. During the year ended 30 April 2017, the club received an interest-free loan from a member. In which...
A sports club provided the following information. subscriptions paid in advance at the start of the year 400 total subscriptions received during t...
Nula provided the following information for the year. drawings for the year 3900 net assets at 1 January 2016 60 500 net assets at 31 December 201...
Abdul does not keep a full set of books but was able to provide the following information. opening inventory 5000 closing inventory 7000 purchases...
Which costs are included in prime cost? direct materials direct labour factory overheads change in work in progress A ✓ ✓ ✓ ✓ B ✓ ✓ ✓ C ✓ ✓ X X D...
Paula has the following deductions from her wages. a subscription to her employer's social club a pension contribution How are these deductions cla...
Winston provided the following information on 30 April 2017. capital at 1 May 2016 42000 profit for the year 6000 current liabilities 2000 current...
Which accounting principle requires a business to prepare financial statements at regular intervals?
Joyce depreciates her non-current assets using the straight-line method of depreciation, but she writes off any office equipment costing under $200...
What is a disadvantage of Information and Communications Technology in book-keeping?
A trader made the following entries in his accounting records. [Table: debit (income statement), credit (capital account)] What did he record?
A customer received a credit note. In which book of prime (original) entry would the customer record this document?
Total goods returned to Wayne by credit customers in March 2017 had a list price of $440. He allows a trade discount of 25% on all credit sales. He...
On 31 July the bank column in Jay's cash book showed he had $312 in the bank. On the same date his bank statement showed a debit balance of $53. It...
Which accounts all have debit balances?
Sukesh's account in the books of Jack showed the following. [Figure of Sukesh account ledger with dates May 1, 4, 8, 8] Which statements about the ...
Maria started a business on 1 May 2016. The monthly rates on her business premises are $100. During the year ended 30 April 2017 she paid rates of ...
Which cost would not be depreciated?
The following account appeared in a trader's ledger. [Figure of Provision for depreciation of machinery account] There were no sales or purchases o...
The totals of a trial balance did not agree and a suspense account was opened. It was later found that the total of the discount allowed column in ...
A trader calculated her draft profit for the year at $28400. She later discovered the following errors. A prepayment of rent payable was understate...
Alex purchased goods for resale costing $1000 to which she would normally apply a 25% mark-up. These goods remained unsold at the financial year en...
Pooja owns a hair salon. She lives in a flat above the salon. The business pays rent for the whole building. No adjustment has been made in the fin...
Ben and Joe decide to form a partnership. Ben is to invest $50000 in the business and Joe $10000. Ben wants the partnership agreement to reflect th...
A sports club was formed on 1 January 2016. Which amount will appear for subscriptions in the income and expenditure account for the year ended 31 ...
How can profit for the year be calculated?
Abdul does not keep a full set of books but was able to provide the following information. [Table with opening inventory, closing inventory, purcha...
What are the main features of debentures?
Which items are shown in a statement of changes in equity?
Which document is used in the calculation of gross pay?
A business provided the following information. [Table with tangible non-current assets, intangible non-current assets, current assets, current liab...
Mario has decided that all items purchased by his business should be recorded at the amount he actually paid for them. Which accounting principle i...
Nor purchases goods from Adam. On 1 April Nor owed Adam $1500. The following transactions occurred in April 2017. April 9 Adam sold goods to Nor on...
Hong prepared draft financial statements on 31 March 2017 which showed a profit for the year of $9200. After the preparation of the financial state...
B Limited had the following balances in the books at 30 April 2017. $ Retained profits 1 May 2016 410000 General reserve 1 May 2016 75000 Debenture...
Jia provided the following information. $ At 1 April 2016 Opening inventory 27000 For the year ended 31 March 2017 Expenses 35000 Revenue 240000 At...
Bik is a sole trader. The following balances were extracted from her books on 28 February 2017. Revenue $410000 Purchases $216800 Returns inwards $...
Chung is a trader who buys and sells on cash and credit terms. He provided the following information for April 2017. April 1 Chung owed Delun, a cr...
Umar sells goods on credit and maintains a sales ledger control account. The following information is available for the month ended 31 March 2017. ...
Aishah and Bolin had been sole traders for many years. On 1 May 2016 they formed a partnership combining their assets and liabilities. Each partner...
Irfan's accounting year ends on 30 April. The following information is available for the years ended 30 April 2015, 2016 and 2017. 2015 $ 2016 $ 20...
The following balances were extracted from the books of Wang Manufacturing on 30 April 2017. Inventory at 1 May 2016 Raw materials $18200 Work in p...
Which group contains only liabilities?
Omar returned faulty goods to Yasmin, the supplier. Which document did Omar send to Yasmin?
Jacob settled the account of Ahmed, a credit supplier. He made the following entries on the credit side of his cash book. | | discount $ | cash $...
What may a credit balance on a ledger account represent?
The following partly-completed account appeared in Edward's sales ledger. Ann account | 2018 | | debit $ | credit $ | balance $ | |:---|:---|:...
The totals of a trial balance did not agree. The total of the debit column was $13400. It was found that the purchases journal had been overcast by...