ACE YOUR 2026/2027 AQA A-LEVEL ACCOUNTING 71727/1 PAPER 1 EXAM:
COMPLETE STUDY GUIDE WITH PAST PAPER EXAM QUESTIONS AND ANSWERS
RATED A+
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
Thursday 23 May 2024 Afternoon Time allowed: 3 hours
Materials
For this paper you must have: For Examiner’s Use
• a calculator.
Section Mark
Instructions
• Use black ink or black ball-point pen. A
• Fill in the boxes at the top of this page. B
• Answer all questions.
• You must answer the questions in the spaces provided. Do not write C
outside the box around each page or on blank pages. TOTAL
• 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.
, 2
Do not write
outside the
• The maximum mark for this paper is 120.
*jun247127101* IB/M/Jun24/G4004/V6 7127/1
IB/M/Jun24/7127/1
, 3
Do not write
outside the
box
Section A
Answer all questions in this section.
Turn over ►
IB/M/Jun24/7127/1
, 4
Do not write
outside the
box
For multiple-choice questions only one answer per question is allowed.
For each question completely fill in the circle alongside the appropriate answer.
0 1
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.
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
0 2
B Carriage inwards; carriage outwards; returns outwards
C Carriage inwards; returns inwards; returns outwards
D Carriage outwards; returns inwards; returns outwards
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
COMPLETE STUDY GUIDE WITH PAST PAPER EXAM QUESTIONS AND ANSWERS
RATED A+
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
Thursday 23 May 2024 Afternoon Time allowed: 3 hours
Materials
For this paper you must have: For Examiner’s Use
• a calculator.
Section Mark
Instructions
• Use black ink or black ball-point pen. A
• Fill in the boxes at the top of this page. B
• Answer all questions.
• You must answer the questions in the spaces provided. Do not write C
outside the box around each page or on blank pages. TOTAL
• 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.
, 2
Do not write
outside the
• The maximum mark for this paper is 120.
*jun247127101* IB/M/Jun24/G4004/V6 7127/1
IB/M/Jun24/7127/1
, 3
Do not write
outside the
box
Section A
Answer all questions in this section.
Turn over ►
IB/M/Jun24/7127/1
, 4
Do not write
outside the
box
For multiple-choice questions only one answer per question is allowed.
For each question completely fill in the circle alongside the appropriate answer.
0 1
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.
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
0 2
B Carriage inwards; carriage outwards; returns outwards
C Carriage inwards; returns inwards; returns outwards
D Carriage outwards; returns inwards; returns outwards
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
