2023 AQA A-level ACCOUNTING 7127/1
Paper 1 Financial Accounting Question Paper &
Mark scheme (Merged) June 2023 [VERIFIED]
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 26 May 2023 Morning 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.
, 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.
01 Which stakeholder will not find the schedule of non-current assets useful?
[1 mark]
A Debenture holders
B Existing shareholders
C Local community
D Potential investors
02 Which of the following is an example of capital income?
[1 mark]
A Commission received
B Credit note received for cancellation of maintenance contract
C Credit sales
D Trade in value of machinery used in part exchange
*02*
IB/G/Jun23/7127/1
, 3
Do not write
outside the
0 3Which items would be included on the debit side of the purchase ledger control box
account?
[1 mark]
A Contra entry; discounts allowed; interest charged
B Contra entry; discounts received; purchase returns
C Discounts allowed; payment to suppliers; purchase returns
D Discounts received; interest charged; purchase returns
0 4 Which book of prime entry will be used to record a cheque received from a
previously written off irrecoverable debt?
[1 mark]
A Cash book
B General journal
C Sales journal
D Sales returns journal
Turn over for the next question
*03*
IB/G/Jun23/7127/1
, 4
Turn over ► Do not write
outside the
*03*
IB/G/Jun23/7127/1
Paper 1 Financial Accounting Question Paper &
Mark scheme (Merged) June 2023 [VERIFIED]
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 26 May 2023 Morning 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.
, 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.
01 Which stakeholder will not find the schedule of non-current assets useful?
[1 mark]
A Debenture holders
B Existing shareholders
C Local community
D Potential investors
02 Which of the following is an example of capital income?
[1 mark]
A Commission received
B Credit note received for cancellation of maintenance contract
C Credit sales
D Trade in value of machinery used in part exchange
*02*
IB/G/Jun23/7127/1
, 3
Do not write
outside the
0 3Which items would be included on the debit side of the purchase ledger control box
account?
[1 mark]
A Contra entry; discounts allowed; interest charged
B Contra entry; discounts received; purchase returns
C Discounts allowed; payment to suppliers; purchase returns
D Discounts received; interest charged; purchase returns
0 4 Which book of prime entry will be used to record a cheque received from a
previously written off irrecoverable debt?
[1 mark]
A Cash book
B General journal
C Sales journal
D Sales returns journal
Turn over for the next question
*03*
IB/G/Jun23/7127/1
, 4
Turn over ► Do not write
outside the
*03*
IB/G/Jun23/7127/1
