Please write clearly in block capitals.
Centre number Candidate number
Surname
Forename(s)
Candidate signature
I declare this is my own work.
A-level
ACCOUNTING
Paper 1 Financial Accounting
Friday 22 May 2026 Morning Time allowed: 3 hours
Materials For Examiner’s Use
For this paper you must have:
Section Mark
• a calculator.
A
Instructions B
• Use black ink or black ball-point pen. C
• Fill in the boxes at the top of this page.
• 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.
*JUN *
IB/M/Jun26/G4006/V7 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 What is the formula for profit in relation to revenue?
[1 mark]
Gross profit
A × 100
Revenue
Profit for the year (before tax)
B × 100
Revenue
Revenue
C × 100
Gross profit
Revenue
D × 100
Profit for the year (before tax)
0 2 What is the formula for interest cover?
[1 mark]
Interest payable
A
Profit before interest and tax
Interest receivable
B
Profit before interest and tax
Profit before interest and tax
C
Interest payable
Profit before interest and tax
D
Interest receivable
*02*
IB/M/Jun26/7127/1
, 3
Do not write
outside the
0 3 During the year ended 30 April 2026 a business paid £1 650 for electricity. This box
included a payment of £430 for the year ended 30 April 2027.
What amounts will be shown in the financial statements for the year ended
30 April 2026?
[1 mark]
Income statement Statement of financial position
A £1 220 expense £430 current asset
B £1 220 expense £430 current liability
C £2 080 expense £430 current asset
D £2 080 expense £430 current liability
0 4 A payment of £420 for insurance has been debited to the bank account and credited
to the insurance account.
What is the double entry to correct this error?
[1 mark]
Debit Credit
A Bank £420 Insurance £420
B Bank £840 Insurance £840
C Insurance £420 Bank £420
D Insurance £840 Bank £840
Turn over ►
*03*
IB/M/Jun26/7127/1
, 4
Do not write
outside the
0 5 A sales ledger control account showed the following for October 2025: box
£
Balance at 1 October 2025 12 580
Contra with the purchase ledger 350
Credit sales 91 600
Discounts allowed 730
Receipts from trade receivables 64 240
What is the balance on the sales ledger control account at 31 October 2025?
[1 mark]
A £38 860
B £39 560
C £40 320
D £41 020
0 6 A business purchased machinery and incurred the following costs:
£
Annual maintenance contract 750
Delivery 380
Installation 5 900
Insurance 3 400
Purchase cost of the machinery 46 100
What is the total capital expenditure for the machinery?
[1 mark]
A £52 000
B £52 380
C £53 130
D £56 530
*04*
IB/M/Jun26/7127/1
Centre number Candidate number
Surname
Forename(s)
Candidate signature
I declare this is my own work.
A-level
ACCOUNTING
Paper 1 Financial Accounting
Friday 22 May 2026 Morning Time allowed: 3 hours
Materials For Examiner’s Use
For this paper you must have:
Section Mark
• a calculator.
A
Instructions B
• Use black ink or black ball-point pen. C
• Fill in the boxes at the top of this page.
• 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.
*JUN *
IB/M/Jun26/G4006/V7 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 What is the formula for profit in relation to revenue?
[1 mark]
Gross profit
A × 100
Revenue
Profit for the year (before tax)
B × 100
Revenue
Revenue
C × 100
Gross profit
Revenue
D × 100
Profit for the year (before tax)
0 2 What is the formula for interest cover?
[1 mark]
Interest payable
A
Profit before interest and tax
Interest receivable
B
Profit before interest and tax
Profit before interest and tax
C
Interest payable
Profit before interest and tax
D
Interest receivable
*02*
IB/M/Jun26/7127/1
, 3
Do not write
outside the
0 3 During the year ended 30 April 2026 a business paid £1 650 for electricity. This box
included a payment of £430 for the year ended 30 April 2027.
What amounts will be shown in the financial statements for the year ended
30 April 2026?
[1 mark]
Income statement Statement of financial position
A £1 220 expense £430 current asset
B £1 220 expense £430 current liability
C £2 080 expense £430 current asset
D £2 080 expense £430 current liability
0 4 A payment of £420 for insurance has been debited to the bank account and credited
to the insurance account.
What is the double entry to correct this error?
[1 mark]
Debit Credit
A Bank £420 Insurance £420
B Bank £840 Insurance £840
C Insurance £420 Bank £420
D Insurance £840 Bank £840
Turn over ►
*03*
IB/M/Jun26/7127/1
, 4
Do not write
outside the
0 5 A sales ledger control account showed the following for October 2025: box
£
Balance at 1 October 2025 12 580
Contra with the purchase ledger 350
Credit sales 91 600
Discounts allowed 730
Receipts from trade receivables 64 240
What is the balance on the sales ledger control account at 31 October 2025?
[1 mark]
A £38 860
B £39 560
C £40 320
D £41 020
0 6 A business purchased machinery and incurred the following costs:
£
Annual maintenance contract 750
Delivery 380
Installation 5 900
Insurance 3 400
Purchase cost of the machinery 46 100
What is the total capital expenditure for the machinery?
[1 mark]
A £52 000
B £52 380
C £53 130
D £56 530
*04*
IB/M/Jun26/7127/1
