Cambridge & Pearson Edexcel Past Paper Questions

What is the benefit of using information and communications technology in book-keeping and accounting?

What is the accounting equation?

Zafar returns goods bought on credit from Khalid. How is this recorded in Zafar's books?

Which is recorded in the sales ledger?

Which document does a trader send to a credit customer to summarise the transactions for the month?

On 1 April the bank column in Miriam's cash book showed a debit balance of $150. During April the following transactions took place. $ receipts fro...

Which is entered in a business's general journal?

A trader prepares a ledger account using the running balance method. Which statement is correct?

On 1 March a business owed its suppliers $9500. During March the following transactions took place. $ goods purchased on credit 10 000 goods return...

Which is a compensating error?

On 1 January 2009 there was a credit balance on the wages account of $2000. Wages paid during the year amounted to $48 000. On 31 December 2009 wag...

Rashid maintains a provision for doubtful debts of 5% of the trade receivables (debtors) at the end of each year. Trade receivables (debtors) owed ...

A taxi firm received $500 from passengers. The firm sold a vehicle for $5000. How should these receipts be treated?

Repairs to a motor vehicle were debited in error to the motor vehicles account. How does this affect the profit for the year (net profit) and the n...

The difference on a trial balance was entered in a suspense account. It was later found that the purchases returns journal had been undercast. Whic...

A sales ledger control account showed the following. $ opening debit balance 2000 sales 10 000 receipts from debtors 8000 returns inwards 100 disco...

A trader's income statement (trading and profit and loss account) showed a gross profit and a loss for the year (net loss). What caused the loss fo...

Simi had the following assets and liabilities. $ inventory (stock) 6300 trade receivables (debtors) 5000 cash 800 trade payables (creditors) 3200 l...

Which group contains only trading businesses?

What is the purpose of a partnership appropriation account?

A partner had a debit balance on his current account of $1600 on 1 January 2009. On 31 December 2009 the following amounts were entered in the part...

A sports club had the following assets and liabilities. $ trade payables (creditors) for refreshments 750 bank 1870 debit subscriptions due from me...

A sports club was formed on 1 January 2009. During the year ended 31 December 2009 the club purchased equipment costing $5000, paying by cheque. In...

The capital of a business is higher at the end of year 2 than it was at the end of year 1. No additional capital has been introduced during year 2....

Barry's sales for his first year of trading were $55 000. His gross profit margin was 20%. The closing inventory (stock) was $3200. What were the p...

Which item will not appear in the appropriation account of a limited company?

How is the factory cost of production calculated?

What is the formula for calculating rate of inventory (stock) turnover?

A sole trader purchased the following items from an office supplier. $ calculator 10 computer system 2000 document shredder 25 stapler 5 Applying t...

Bi-Appah thinks her business will be worth more when she takes on new, highly skilled staff. Which accounting principle prevents her from recording...

A sales ledger control account showed the following. $ opening debit balance 2 000 sales 10 000 receipts from debtors 8 000 returns inwards 100 di...

A sports club had the following assets and liabilities. $ trade payables (creditors) for refreshments 750 bank 1870 debit subscriptions due from m...

A sole trader purchased the following items from an office supplier. $ calculator 10 computer system 2000 document shredder 25 stapler 5 Applying...

Rahman is a debtor in the books of Goldy. On 1 April 2010 the balance on the account of Rahman was $300. The following transactions related to the...

Sparky Ltd set up business on 1 May 2008 with the following assets: $ Property (Land and buildings) 150000 Computer equipment 40000 Inventory (sto...

Indira is a computer consultant. She does not keep a full set of double entry accounts but the following information is available for the year ende...

Zaynah is in business buying and selling goods on credit. The following balances were extracted from her books on 30 April 2010. $ Revenue (Sales)...

SGC Ltd is a trading company. The following balances were extracted from the books on 30 April 2010. $ Inventory (stock) at 1 May 2009 48500 Raw m...

Leung commenced business on 1 April 2010 with inventory (stock) $500 and bank $6000. Leung also has a bank loan of $3500 which is repayable in full...

Tsang is in business buying and selling goods on credit. The following information is available for the month of March 2010. $ Revenue (sales) 6500...

Chan and David were sole traders with the following assets and liabilities on 31 March 2009. | | Chan $ | David $ |---|---|--- | Intangible assets...

Paula Lim supplied the following information relating to her financial year ended 30 April 2010. $ Revenue (sales) 250000 Inventory (stock) 1 May 2...

Wang Yee is a manufacturer. The following balances were extracted from his books on 31 January 2010. | | $ | |---|---| | Inventories (stocks) 1 Fe...

Businesses make use of both book-keeping and accounting procedures. What is the purpose of book-keeping?

Which would be recorded by a credit entry in an account?

Which is true of a computerised accounting system?

Which is the accounting equation?

Wayne has sent the following business documents to Len, a customer. $ Jan 1 invoice 250 Jan 12 invoice 370 Jan 14 credit note 90 Jan 18 invoice 48...

Which document is issued to a customer to show all the transactions that have taken place during a month?

Hassan maintains a sales journal, purchases journal, sales returns journal and a purchases returns journal. At the end of his first month's tradin...