Incomplete records — Paper 1 · IGCSE Accounting (9-1) 0985

25 Anthony does not keep a full set of accounting records. He knows his opening and closing cash balances and wishes to calculate his cash sales. Which item does Anthony not need in order to calculate his cash sales? A cash banked B cash discount C cash drawings D cash expenses

1 marks

Answer: B

This question in 0985/12 Oct/Nov 2020

26 A trader has not maintained a full set of accounting records. How can she calculate the credit sales for the year? A receipts from credit customers + closing trade receivables – discount allowed – opening trade receivables B receipts from credit customers – closing trade receivables + discount allowed + opening trade receivables C receipts from credit customers – closing trade receivables – discount allowed + opening trade receivables D receipts from credit customers + closing trade receivables + discount allowed – opening trade receivables

1 marks

Answer: D

This question in 0985/12 Oct/Nov 2020

26 Nula provided the following information for the year ended 31 March 2021. $ drawings for the year 3 900 net assets at 1 April 2020 60 500 net assets at 31 March 2021 72 275 What was the profit or loss for the year ended 31 March 2021? A $7875 loss B $7875 profit C $15 675 loss D $15 675 profit

1 marks

Answer: D

This question in 0985/11 May/June 2021

27 A trader who does not keep full accounting records was able to supply the following information. $ amount owed by trade receivables at 1 April 2020 3 000 cheques received from trade receivables during the year 28 000 cash discounts given to trade receivables 1 500 amount owed by trade receivables at 31 March 2021 4 200 How much were the credit sales for the year ended 31 March 2021? A $25 300 B $27 700 C $28 300 D $30 700

1 marks

Answer: D

This question in 0985/11 May/June 2021

27 Beth provided the following information. 1 January 31 December net assets $28 000 $24 000 Her drawings during the year amounted to $3000. What was Beth’s profit or loss for the year? A $1000 loss B $1000 profit C $7000 loss D $7000 profit

1 marks

Answer: A

This question in 0985/12 Oct/Nov 2021

29 A trader does not keep full accounting records but was able to provide the following information. $ capital at 1 January 2021 26 000 capital at 31 December 2021 37 000 drawings made during year 6 500 During the year, $9500 was withdrawn from the owner’s private bank account to purchase a motor vehicle to be used by the business. What was the profit for the year? A $8000 B $11 000 C $14 000 D $17 500

1 marks

Answer: A

This question in 0985/11 May/June 2022

27 Chan provided the following information. 1 October 2021 30 September 2022 $ $ non-current assets 10 000 12 000 inventory 2 500 2 000 trade receivables 1 500 1 300 bank overdraft 800 900 trade payables 1 000 1 900 What was Chan’s profit or loss for the year? A $300 loss B $300 profit C $500 loss D $500 profit

1 marks

Answer: B

This question in 0985/12 Oct/Nov 2022

28 Aruna does not maintain a full set of double entry records. She provided the following information. $ trade payables on 1 August 2021 23 450 trade payables on 31 July 2022 27 290 cash purchases made during the year 16 000 payments made to credit suppliers 168 000 What was the cost of her purchases for the year ended 31 July 2022? A $164 160 B $171 840 C $180 160 D $187 840

1 marks

Answer: D

This question in 0985/12 Oct/Nov 2022

30 Ashwin started a business as a taxi driver on 1 January 2022. His taxi cost $5000 and he paid $100 into a business bank account. He did not keep any accounting records. On 31 December 2022, he had $1750 in the business bank account, his taxi was valued at $4000 and he owed $50 to the garage for repairs. During the year, he took $1600 out of the business bank account as drawings. What was the profit for the year? A $1650 B $2200 C $2250 D $3250

1 marks

Answer: B

This question in 0985/12 May/June 2023

31 A trader did not keep a complete set of accounts. He provided the following information for the year. $ opening trade payables 5 000 closing trade payables 9 800 payments to credit suppliers 35 000 cash discounts received 3 000 What were the purchases for the year? A $30 200 B $36 800 C $39 800 D $42 800

1 marks

Answer: D

This question in 0985/12 May/June 2023

31 What is needed for the preparation of a statement of affairs? A a trial balance B an income statement C books of prime entry D values of assets and liabilities

1 marks

Answer: D

This question in 0985/11 May/June 2024

31 Miriam does not maintain a full set of accounting records. Only the purchases for the year and asset and liability values at the year end are known. Which financial statements can be prepared using this information? income statement statement of affairs A ✓ ✓ B ✓ ✗ C ✗ ✓ D ✗ ✗

1 marks

Answer: C

This question in 0985/12 May/June 2024

30 Anya did not keep a full set of double entry records but provided the following information. $ At 1 February 2022 capital 10000 At 31 January 2023 bank overdraft 1500 equipment 20000 inventory 2000 trade receivables 15000 trade payables 10500 Anya’s drawings during the year ended 31 January 2023 were $8500. What was her profit for the year ended 31 January 2023? A $23500 B $25000 C $26500 D $29500

1 marks

Answer: A

This question in 0985/12 Oct/Nov 2024

28 A trader does not maintain a full set of accounting records. How could he calculate the profit for the year? A closing capital – opening capital – drawings – capital introduced B closing capital – opening capital + drawings – capital introduced C closing capital – opening capital + drawings + capital introduced D closing capital – opening capital – drawings + capital introduced

1 marks

Answer: B

This question in 0985/11 May/June 2025

29 Janice started trading on 1 January. All her sales were made on a cash basis. During the year, Janice paid wages of $12 100 and took drawings of $7800 out of the amount received from customers. She also banked $56 000 of these receipts. At the year end, she held $150 of unbanked sales in cash. Which value for Janice’s sales was recorded in the income statement? A $35950 B $36250 C $75750 D $76050

1 marks

Answer: D

This question in 0985/11 May/June 2025