A-level ACCOUNTING Paper 2 Accounting for analysis and decision making

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A-level
ACCOUNTING
Paper 1 Financial Accounting


Thursday 23 May 2024 Afternoon Time allowed: 3 hours
Materials
For Examiner’s Use
For this paper you must have:
• a calculator. Section Mark

A
Instructions
• Use black ink or black ball-point pen. B
• 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.




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, 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




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, 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 × 100
Issued share capital + current liabilities



Non-current liabilities
B × 100
Issued share capital + non-current liabilities



Non-current liabilities
C × 100
Issued share capital + reserves + current liabilities



Non-current liabilities
D × 100
Issued share capital + reserves + non-current liabilities




Turn over for the next question




Turn over ►

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, 4
Do not write
outside the
0 5 A sales ledger control account showed the following for January 2024. box




Details £

Balance on 1 January 2024 21 450

Contra with purchases ledger control account 190

Credit sales 38 692

Receipts from credit customers 27 955


What was the balance brought down on the sales ledger control account on
1 February 2024?
[1 mark]


A £31 997 Credit

B £31 997 Debit

C £32 377 Credit

D £32 377 Debit



0 6 The purchase of a non-current asset has been recorded as administration
expenditure.
What is the effect on profit in the income statement?
[1 mark]


A Gross profit overstated

B Gross profit understated

C Profit for the year overstated

D Profit for the year understated




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