Please write clearly in block capitals.
Centre number Candidate number
Surname
Forename(s)
Candidate signatu re
I declare this is my own work.
A+level
Accounting Exam 1– Concepts & Problems
(Don Carpenter Course)
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.
EXAM/V/ST/V /E8
, assets will be overstated - ✔✔If the credit amount of an entry to record the payment of an account payable was not
posted:
D - ✔✔Performing services on account will
A. increase total assets.
B. increase stockholders' equity.
C. decrease total liabilities.
D. both A. and B.
have no affect on total assets - ✔✔Receiving payment from a customer on account will
A - ✔✔Which of the following transactions would increase an asset and increase stockholders' equity?
A. Performing a service on account for a customer.
B. Collecting cash from a customer on an account receivable.
C. Borrowing money from a bank.
D. Purchasing supplies on account.
A - ✔✔Which of the following is not a temporary retained earnings account
A. Common Stock
B. Salary Expense
C. Service Revenue
D. Dividends
A - ✔✔The journal entry to record the purchase of supplies on account consists of a
A. debit to Supplies and a credit to Accounts Payable.
B. credit to Supplies and a debit to Cash.
C. debit to Supplies Expense and a credit to Supplies.
D. credit to Supplies and a debit to Accounts Payable.
B - ✔✔Which of the following statements is false?
Centre number Candidate number
Surname
Forename(s)
Candidate signatu re
I declare this is my own work.
A+level
Accounting Exam 1– Concepts & Problems
(Don Carpenter Course)
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.
EXAM/V/ST/V /E8
, assets will be overstated - ✔✔If the credit amount of an entry to record the payment of an account payable was not
posted:
D - ✔✔Performing services on account will
A. increase total assets.
B. increase stockholders' equity.
C. decrease total liabilities.
D. both A. and B.
have no affect on total assets - ✔✔Receiving payment from a customer on account will
A - ✔✔Which of the following transactions would increase an asset and increase stockholders' equity?
A. Performing a service on account for a customer.
B. Collecting cash from a customer on an account receivable.
C. Borrowing money from a bank.
D. Purchasing supplies on account.
A - ✔✔Which of the following is not a temporary retained earnings account
A. Common Stock
B. Salary Expense
C. Service Revenue
D. Dividends
A - ✔✔The journal entry to record the purchase of supplies on account consists of a
A. debit to Supplies and a credit to Accounts Payable.
B. credit to Supplies and a debit to Cash.
C. debit to Supplies Expense and a credit to Supplies.
D. credit to Supplies and a debit to Accounts Payable.
B - ✔✔Which of the following statements is false?
