Tag: A-Level

The following information relates to a business for a period.

Which amount will be capitalised as the cost of the shop?

Select ONE answer:

1. £680,000
2. £687,200
3. £734,500
4. £747,000

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

1. Not correct
2. Not correct
3. Correct – £60,000 +£7,200 + £47,300
4. Not correct

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A trial balance at 30 April 2020, before making end of year adjustments, showed:

At 30 April 2020 it was decided to write off a bad debt of £800 and to make a provision for doubtful debts of 2 % of trade debtors.

During the year an amount of £200 was received from a customer relating to a debt that was written off in the year ended 30 April 2019.

What was the total bad and doubtful debts expense for the year ended 30 April 2020? 

Select ONE answer:

1. £360
2. £560
3. £940
4. £1,140

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 1

1. Correct – (£17,800 – £800) *0.02 = £340 —> £560 – £340 – £200 + £800
2. Not correct
3. Not correct
4. Not correct

This work is licensed under a Creative Commons Attribution 4.0 International License.

A customer paid a deposit in advance for goods to be supplied at a later date.

How should this be recorded in the seller’s books?

Select ONE answer:

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 1

1. Correct
2. Not correct
3. Not correct
4. Not correct

This work is licensed under a Creative Commons Attribution 4.0 International License.

The following information relates to a business for a period.

How many units were sold in the period?

Select ONE answer:

1. 1,500
2. 1,750
3. 2,250
4. 2,625

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 4

1. Not correct
2. Not correct
3. Not correct
4. Correct – £100 – 60 = £40 CM —-> £90,000 + £15,000 / £40 = 2,625

This work is licensed under a Creative Commons Attribution 4.0 International License.