Please write clearly in block capitals.
Centre number Candidate
number
Surname
Forename(s)
Candidate e
signatur
A-level
ACCOUNTIN
G
Paper 1 Financial
Accounting
May 2024 Afternoon Time allowed: 3 hours
Materials
For Examiner’s Use
For this paper you must have:
a calculator. Section Mark
A
Instructions
B
Use black ink or black ball-point pen.
Fill in the boxes at the top of this page. C
Answer all questions. TOTAL
You must answer the questions in the spaces provided. Do
not write outside the box around each page or on blank
pages.
If you need extra space for your answer(s), use the lined pages at
the end of this book. Write the question number against your answer(s).
Do all rough work in this answer book. Cross through any
work you do not want to be marked.
Information
The marks for each question are shown in brackets.
The maximum mark for this paper is 120.
,7127/1
, 2
Do not write
outside the
Section A box
Answer all questions in this
section.
For multiple-choice questions only one answer per question is allowed.
For each question completely fill in the circle alongside the appropriate answer.
CORRECT METHOD WRONG METHODS
If you want to change your answer you must cross out your original answer as shown.
If you wish to return to an answer previously crossed out, ring the answer you
now wish to select as shown.
0 1 Which of the following correctly lists items to be shown as debit
entries in an income statement?
[1 mark]
A Carriage inwards; carriage outwards; returns inwards
B Carriage inwards; carriage outwards; returns outwards
C Carriage inwards; returns inwards; returns outwards
D Carriage outwards; returns inwards; returns outwards
0 2 Which of the following is not shown on a statement of changes in equity?
[1 mark]
A Bonus issue of ordinary shares
B Debenture interest paid
C Dividends paid
D Rights issue of ordinary shares
IB/M/
Jun24/7127/1
, 3
Do not write
outside the
0 3 A business owner records goods taken for their own use as drawings. box
Which accounting concept is being applied?
[1 mark]
A Business entity
B Consistency
C Money measurement
D Realisation
0 4 What is the correct formula for the capital gearing ratio?
[1 mark]
Non-current liabilities
A Issued share capital + current liabilities
× 100
Non-current liabilities
B
Issued share capital + non-current liabilities
× 100
Non-current liabilities
C Issued share capital + reserves + current liabilities
× 100
Non-current liabilities
D Issued × 100
share capital + reserves + non-current liabilities
Turn over for the next question
Turn over ►
IB/M/
Jun24/7127/1
Centre number Candidate
number
Surname
Forename(s)
Candidate e
signatur
A-level
ACCOUNTIN
G
Paper 1 Financial
Accounting
May 2024 Afternoon Time allowed: 3 hours
Materials
For Examiner’s Use
For this paper you must have:
a calculator. Section Mark
A
Instructions
B
Use black ink or black ball-point pen.
Fill in the boxes at the top of this page. C
Answer all questions. TOTAL
You must answer the questions in the spaces provided. Do
not write outside the box around each page or on blank
pages.
If you need extra space for your answer(s), use the lined pages at
the end of this book. Write the question number against your answer(s).
Do all rough work in this answer book. Cross through any
work you do not want to be marked.
Information
The marks for each question are shown in brackets.
The maximum mark for this paper is 120.
,7127/1
, 2
Do not write
outside the
Section A box
Answer all questions in this
section.
For multiple-choice questions only one answer per question is allowed.
For each question completely fill in the circle alongside the appropriate answer.
CORRECT METHOD WRONG METHODS
If you want to change your answer you must cross out your original answer as shown.
If you wish to return to an answer previously crossed out, ring the answer you
now wish to select as shown.
0 1 Which of the following correctly lists items to be shown as debit
entries in an income statement?
[1 mark]
A Carriage inwards; carriage outwards; returns inwards
B Carriage inwards; carriage outwards; returns outwards
C Carriage inwards; returns inwards; returns outwards
D Carriage outwards; returns inwards; returns outwards
0 2 Which of the following is not shown on a statement of changes in equity?
[1 mark]
A Bonus issue of ordinary shares
B Debenture interest paid
C Dividends paid
D Rights issue of ordinary shares
IB/M/
Jun24/7127/1
, 3
Do not write
outside the
0 3 A business owner records goods taken for their own use as drawings. box
Which accounting concept is being applied?
[1 mark]
A Business entity
B Consistency
C Money measurement
D Realisation
0 4 What is the correct formula for the capital gearing ratio?
[1 mark]
Non-current liabilities
A Issued share capital + current liabilities
× 100
Non-current liabilities
B
Issued share capital + non-current liabilities
× 100
Non-current liabilities
C Issued share capital + reserves + current liabilities
× 100
Non-current liabilities
D Issued × 100
share capital + reserves + non-current liabilities
Turn over for the next question
Turn over ►
IB/M/
Jun24/7127/1
