Please write clearly in block capitals.
Centre number Candidate number
Surname
Forename(s)
Candidate signat ure
I declare this is my own work.
A-level
ACCOUNTING
Paper 1 Financial Accounting
Wednesday 20 May 2020 Afternoon Time allowed: 3 hours
Materials
For this paper you must have: For Examiner’s Use
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.
IB/G/Jun20/E9 7127/1
, 2
Do not write
outside the
Section A box
Answer all questions in this section.
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 is the source document to show that a cheque paid to a credit
supplier was dishonoured?
[1 mark]
A Bank statement
B Cash receipt
C Cheque counterfoil
D Paying-in slip counterfoil
0 2 Which of these errors is revealed by a trial balance?
[1 mark]
A Commission
B Compensating
C Original entry
D Partial omission
IB/G/Jun20/7127/1
, 3
Do not write
outside the
0 3 Which of these would be used to record the purchase of a non-current asset on credit? box
[1 mark]
A Cash book
B General journal
C Purchases journal
D Sales journal
0 4 For a partnership that maintains separate current and capital accounts, which entry would
appear on the credit side of the current account?
[1 mark]
A Drawings
B Goodwill
C Interest on capital
D Interest on drawings
0 5 Which would best describe the cash received by a business from a bank loan?
[1 mark]
A Capital expenditure
B Capital income
C Revenue expenditure
D Revenue income
Turn over for the next question
Turn over ►
IB/G/Jun20/7127/1
, 4
Do not write
outside the
0 6 Which is the correct formula for Return on Capital Employed (ROCE)? box
[1 mark]
A Equity + current liabilities × 100
Profit from operations
Equity + non-current liabilities
B × 100
Profit from operations
Profit from operations
C × 100
Equity + current liabilities
Profit from operations
D × 100
Equity + non-current liabilities
0 7 A book-keeper recorded the payment of a cheque for rent payable for £50 by debiting the
bank account with £50 and crediting the rent payable account with £50.
Which of the following entries would correct this error?
[1 mark]
Debit Credit
A Bank £50 Rent payable £50
B Bank £100 Rent payable £100
C Rent payable £50 Bank £50
D Rent payable £100 Bank £100
0 8 What does CCAB stand for?
[1 mark]
A Chartered Committee of Accountancy Bodies
B Committee of Consulting Accountancy Bodies
C Common Committee of Accountancy Bodies
D Consultative Committee of Accountancy Bodies
IB/G/Jun20/7127/1
Centre number Candidate number
Surname
Forename(s)
Candidate signat ure
I declare this is my own work.
A-level
ACCOUNTING
Paper 1 Financial Accounting
Wednesday 20 May 2020 Afternoon Time allowed: 3 hours
Materials
For this paper you must have: For Examiner’s Use
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.
IB/G/Jun20/E9 7127/1
, 2
Do not write
outside the
Section A box
Answer all questions in this section.
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 is the source document to show that a cheque paid to a credit
supplier was dishonoured?
[1 mark]
A Bank statement
B Cash receipt
C Cheque counterfoil
D Paying-in slip counterfoil
0 2 Which of these errors is revealed by a trial balance?
[1 mark]
A Commission
B Compensating
C Original entry
D Partial omission
IB/G/Jun20/7127/1
, 3
Do not write
outside the
0 3 Which of these would be used to record the purchase of a non-current asset on credit? box
[1 mark]
A Cash book
B General journal
C Purchases journal
D Sales journal
0 4 For a partnership that maintains separate current and capital accounts, which entry would
appear on the credit side of the current account?
[1 mark]
A Drawings
B Goodwill
C Interest on capital
D Interest on drawings
0 5 Which would best describe the cash received by a business from a bank loan?
[1 mark]
A Capital expenditure
B Capital income
C Revenue expenditure
D Revenue income
Turn over for the next question
Turn over ►
IB/G/Jun20/7127/1
, 4
Do not write
outside the
0 6 Which is the correct formula for Return on Capital Employed (ROCE)? box
[1 mark]
A Equity + current liabilities × 100
Profit from operations
Equity + non-current liabilities
B × 100
Profit from operations
Profit from operations
C × 100
Equity + current liabilities
Profit from operations
D × 100
Equity + non-current liabilities
0 7 A book-keeper recorded the payment of a cheque for rent payable for £50 by debiting the
bank account with £50 and crediting the rent payable account with £50.
Which of the following entries would correct this error?
[1 mark]
Debit Credit
A Bank £50 Rent payable £50
B Bank £100 Rent payable £100
C Rent payable £50 Bank £50
D Rent payable £100 Bank £100
0 8 What does CCAB stand for?
[1 mark]
A Chartered Committee of Accountancy Bodies
B Committee of Consulting Accountancy Bodies
C Common Committee of Accountancy Bodies
D Consultative Committee of Accountancy Bodies
IB/G/Jun20/7127/1
