Tag: AQA

At the beginning of the year a company has authorised share capital of 400,000 £1 ordinary shares and issued share capital of 200,000 £1 ordinary shares.

During the year the company makes a further issue of 100,000 £1 ordinary shares at a price of £2.40 each.

What is the balance on the Share Capital account at the end of the year?

Select ONE answer:

1. £300,000
2. £440,000
3. £500,000
4. £640,000

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 1

1. Correct – 200k * £1 + 100k * £1 (the difference is share premium)
2. Not correct
3. Not correct
4. Not correct

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

A company increases its provision for doubtful debts.

How does this affect the cash flow statement? 

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 3

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

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

During the year ended 31 December 2019, the XY Sports Club received £10,860 in cash for subscriptions.

The following further information is available.

• 

What is the figure for subscriptions in the Income and Expenditure Account for the year ended 31 December 2019?

Select ONE answer:

1. £10,150
2. £10,510
3. £11,570
4. £12,270

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 = £10,860 – £580 + £1,640 +£870 – £1,220
4. Not correct

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

What does the Profit and Loss Appropriation Account of a limited company show?

Select ONE answer:

1. capital and revenue reserves
2. how net profit is applied
3. how net profit is earned
4. the directors’ salaries

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 2

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

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

A company increases its provision for doubtful debts.

How does this affect the cash flow statement?

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.