SPECIMEN MATERIAL
Please write clearly, in block capitals.
Centre number Candidate number
Surname
Forename(s)
Candidate signature
A-level
ACCOUNTING
Paper 1 Financial Accounting
Specimen Time allowed: 3 hours
Materials
For this paper you must have:
• a calculator.
Instructions
• Use black ink or black ball-point pen.
• Fill in the boxes at the top of this page.
• Answer all questions.
• You must answer the questions in the spaces provided. Do not write outside the box around each
page or on blank pages.
• Do all rough work in this answer book. Cross through any work you do not want to be marked.
Advice
• The marks for each question are shown in brackets.
• The maximum marks for this paper is 120.
, 2
Section A
Answer all questions in this section
0 1 The owner of a restaurant purchased some equipment on credit for business use, but
returned the equipment to the supplier as it was damaged.
How should the return of the equipment be recorded in the books of the restaurant?
Debit Credit
A General journal Equipment Supplier
B General journal Supplier Equipment
C Purchases returns journal Purchases returns Supplier
D Purchases returns journal Supplier Purchases returns
[1 mark]
0 2 A bookkeeper recorded a payment for vehicle repairs in the vehicles account.
Which of the following correctly describes the type of error and corrections to be
made?
Type of error Entries to correct the error
Debit Credit
A Commission Vehicle repairs Vehicles
B Commission Vehicles Vehicle repairs
C Principle Vehicle repairs Vehicles
D Principle Vehicles Vehicle repairs
[1 mark]
Version 1.0
, 3
0 3 A sole trader has not maintained proper books of account. The following information is
available relating to trade receivables for the year ended 30 June 2016.
£
Receipts from trade receivables 205 000
Sales returns 7 000
Trade receivables, 1 July 2015 14 000
Trade receivables, 30 June 2016 12 000
What is the value of credit sales for the year ended 30 June 2016?
A £196 000
B £200 000
C £210 000
D £214 000
[1 mark]
0 4 The following information was provided by a sole trader for the year ended
31 December 2015.
£
Capital 1 January 2015 32 000
Capital 31 December 2015 29 000
Drawings 11 000
What was the business’s profit or loss for 2015?
A loss £8000
B loss £14 000
C profit £8000
D profit £14 000
[1 mark]
Version 1.0 Turn over
, 4
0 5 A sole trader received an order from a credit customer on the last day of the financial
year 31 May 2016. No entries were made in the accounting records for the sale of
goods until the invoice was raised on 3 June 2016.
Which accounting concept is being applied?
A consistency
B going concern
C prudence
D realisation
[1 mark]
0 6 Which of the following correctly lists items to be shown in a partnership appropriation
account?
A drawings, interest on drawings, partnership salaries
B interest on drawings, interest on a partner’s loan, shares of
residual loss
C interest on capital accounts, interest on drawings, partnership
salaries
D interest on a partner’s loan, partnership salaries, shares of
residual profit
[1 mark]
Version 1.0
Please write clearly, in block capitals.
Centre number Candidate number
Surname
Forename(s)
Candidate signature
A-level
ACCOUNTING
Paper 1 Financial Accounting
Specimen Time allowed: 3 hours
Materials
For this paper you must have:
• a calculator.
Instructions
• Use black ink or black ball-point pen.
• Fill in the boxes at the top of this page.
• Answer all questions.
• You must answer the questions in the spaces provided. Do not write outside the box around each
page or on blank pages.
• Do all rough work in this answer book. Cross through any work you do not want to be marked.
Advice
• The marks for each question are shown in brackets.
• The maximum marks for this paper is 120.
, 2
Section A
Answer all questions in this section
0 1 The owner of a restaurant purchased some equipment on credit for business use, but
returned the equipment to the supplier as it was damaged.
How should the return of the equipment be recorded in the books of the restaurant?
Debit Credit
A General journal Equipment Supplier
B General journal Supplier Equipment
C Purchases returns journal Purchases returns Supplier
D Purchases returns journal Supplier Purchases returns
[1 mark]
0 2 A bookkeeper recorded a payment for vehicle repairs in the vehicles account.
Which of the following correctly describes the type of error and corrections to be
made?
Type of error Entries to correct the error
Debit Credit
A Commission Vehicle repairs Vehicles
B Commission Vehicles Vehicle repairs
C Principle Vehicle repairs Vehicles
D Principle Vehicles Vehicle repairs
[1 mark]
Version 1.0
, 3
0 3 A sole trader has not maintained proper books of account. The following information is
available relating to trade receivables for the year ended 30 June 2016.
£
Receipts from trade receivables 205 000
Sales returns 7 000
Trade receivables, 1 July 2015 14 000
Trade receivables, 30 June 2016 12 000
What is the value of credit sales for the year ended 30 June 2016?
A £196 000
B £200 000
C £210 000
D £214 000
[1 mark]
0 4 The following information was provided by a sole trader for the year ended
31 December 2015.
£
Capital 1 January 2015 32 000
Capital 31 December 2015 29 000
Drawings 11 000
What was the business’s profit or loss for 2015?
A loss £8000
B loss £14 000
C profit £8000
D profit £14 000
[1 mark]
Version 1.0 Turn over
, 4
0 5 A sole trader received an order from a credit customer on the last day of the financial
year 31 May 2016. No entries were made in the accounting records for the sale of
goods until the invoice was raised on 3 June 2016.
Which accounting concept is being applied?
A consistency
B going concern
C prudence
D realisation
[1 mark]
0 6 Which of the following correctly lists items to be shown in a partnership appropriation
account?
A drawings, interest on drawings, partnership salaries
B interest on drawings, interest on a partner’s loan, shares of
residual loss
C interest on capital accounts, interest on drawings, partnership
salaries
D interest on a partner’s loan, partnership salaries, shares of
residual profit
[1 mark]
Version 1.0
