OxfordAQA A-Level Accounting: Accounting for organisations with incomplete records (9615) – Practice Questions

These are original questions written for Marlbridge, for revision and practice on this content. They are not reproduced past-paper questions, and they do not replicate the exam’s exact structure, question count or mark tariffs – examination boards hold copyright in their own papers. Use these alongside the official past papers from your board or school.

Every question here draws on section 3.2.4, Accounting for organisations with incomplete records, of the OxfordAQA International AS and A-level Accounting (9615) specification, Version 1.2, for International AS exams May/June 2025 onwards and International A-level exams May/June 2026 onwards. It is International A-level only content, which the specification places in Paper 3: Financial Accounting. Every outcome is tested: statements of affairs, total, cash and bank accounts, ratios, depreciation and disposals, full statements, and single versus double entry. All businesses and figures are invented, and all amounts are in US dollars.

Work through the study guide or skim the revision notes beforehand. Other useful pages: the OxfordAQA A-level Accounting hub, the printable checklist and the diagnostic quizzes.

Questions

1. Explain how a statement of affairs differs from a statement of financial position. [2]

2. Calculate (a) the gross profit margin equivalent to a markup of 35%, and (b) the markup equivalent to a gross profit margin of 44%. Give each to two decimal places. [2]

3. Odalys Fairweather runs a photography studio and keeps no ledger. At 1 October 2024: equipment 12,500, bank 4,300, trade receivables 900, trade payables 700. At 30 September 2025: equipment 10,800, bank overdraft 1,250, trade receivables 1,150, insurance prepaid 180, trade payables 640, loan from her brother 3,000. She drew 800 a month and paid in 1,500 of personal savings. Calculate her profit or loss for the year. [5]

4. Vantrell Electricals: at the start of the year receivables ledger debit balances were 8,460 and credit balances 120. During the year: received by bank 92,310; sales returns 1,270; contra with payables ledger 1,640; irrecoverable debts written off 730; interest charged on overdue accounts 85. At the end, debit balances were 9,050 and credit balances 210. Prepare a trade receivables total account to find credit sales. [5]

5. Nyambura Crafts sells at weekend craft fairs and keeps its takings in a cash box. Cash in hand was 260 at the start of the year and 310 at the end. From the cash box the owner banked 26,350, paid stall fees of 2,600 and bought materials for 1,150, and she estimates that she took 70 a week for 52 weeks for herself. Calculate cash sales for the year. [4]

6. Morwick Paints’ opening inventory was 9,710 and its closing inventory 11,710. Its rate of inventory turnover was 7 times and its gross profit margin 32%. Calculate cost of sales, revenue, gross profit and purchases. [5]

7. Kelso Street Grocers’ expenses were 23,400. The gross profit margin was 30% and profit in relation to revenue was 12%. Calculate revenue, gross profit, profit for the year and the markup. [5]

8. Ravensgarth Tools depreciates machinery at 15% a year on cost, on machinery held at the year end, with none in the year of disposal. At the start of the year machinery cost 52,000, accumulated depreciation 19,500. A machine costing 12,000, which had been depreciated for four years, was sold at a loss of 900. Machinery at cost at the year end was 61,000.

(a) Calculate the sale proceeds. [3] (b) Calculate the cost of machinery bought in the year. [1] (c) Calculate the depreciation charge and the closing accumulated depreciation. [2]

9. Nasreen Vashti runs Vashti Bakehouse. At 1 January 2025: ovens and equipment at cost 30,000, accumulated depreciation 9,000; inventory 2,400; trade receivables 1,800; bank 3,150; trade payables 2,050; electricity accrued 160.

Bank summary for 2025. Receipts: credit customers 22,700; cash takings paid in 61,300. Payments: suppliers 31,900; electricity 2,280; rent 7,200; drawings 14,000. Wages of 18,400 were paid from cash takings before banking.

At 31 December 2025: trade receivables 2,100; trade payables 2,460; inventory 2,750; electricity accrued 240; rent prepaid 600. Equipment is depreciated at 10% a year on cost.

(a) Calculate opening capital. [2] (b) Calculate revenue and purchases. [3] (c) Calculate profit for the year, showing gross profit and each expense. [5] (d) Calculate the closing bank balance and show that the statement of financial position balances. [4]

10. Anselm Brandauer runs two market stalls selling for cash only, using a notebook and his bank statements. He plans to open a shop, sell on credit to cafés and apply for a bank loan. Evaluate whether he should move from single entry to double entry records. [8]

11. Sundale Feeds: trade payables were 3,920 at the start and 4,480 at the end of the year. Payments to suppliers were 41,250, discounts received 610 and purchases returns 390. Calculate credit purchases. [3]

Answers

1. A statement of affairs lists assets and liabilities from counts, valuations and documents when no ledger exists [1]; a statement of financial position is drawn up from ledger balances in a double entry system [1]. [2] Examiner insight: Stating only that both show capital as assets less liabilities describes a similarity; the credit is for the difference in source.

2. (a) 35 / 135 × 100 = 25.93% [1] (b) 44 / 56 × 100 = 78.57% [1] [2] Examiner insight: Show the fraction you used; a bare percentage that is wrong leaves nothing to reward.

3. Opening capital = 12,500 + 4,300 + 900 − 700 = 17,000 [1]. Closing assets 12,130, liabilities 1,250 + 640 + 3,000 = 4,890, capital 7,240 [1]. Change = −9,760; add drawings 800 × 12 = 9,600 [1]; deduct capital introduced 1,500 [1]. Result = loss of 1,660 [1]. [5] Examiner insight: The overdraft must sit with liabilities, and the answer must be labelled a loss, not just written as a negative number.

4.

            Trade receivables total account
Balance b/d          8,460   Balance b/d               120
Interest charged        85   Bank                   92,310
Credit sales (bal)  96,365   Sales returns           1,270
Balance c/d            210   Contra (payables)       1,640
                             Irrecoverable debts       730
                             Balance c/d             9,050
                   105,120                         105,120

Both opening balances correct [1]; bank and returns credited [1]; contra and irrecoverable debts credited [1]; interest debited and closing credit balance debited [1]; credit sales 96,365 [1]. [5] Examiner insight: Credit balances in the receivables ledger go on the opposite side to debit balances; netting them first is acceptable only if shown clearly.

5. Drawings = 70 × 52 = 3,640 [1]. Payments out: 26,350 + 2,600 + 1,150 + 3,640 = 33,740 [1]; add closing cash 310 = 34,050 [1]. Cash sales = 34,050 − 260 = 33,790 [1]. [4] Examiner insight: The drawings left the cash box without being banked, so omitting them understates cash sales by the whole 3,640; a cash account layout makes such gaps easy to spot.

6. Average inventory = (9,710 + 11,710) / 2 = 10,710 [1]; cost of sales = 10,710 × 7 = 74,970 [1]. Cost of sales is 68% of revenue, so revenue = 74,970 / 0.68 = 110,250 [1]. Gross profit = 35,280 [1]. Purchases = 74,970 + 11,710 − 9,710 = 76,970 [1]. [5] Examiner insight: Multiplying cost of sales by 1.32 treats the margin as a markup and gives revenue of about 98,960; a margin is a share of revenue, not of cost.

7. Expenses = 30% − 12% = 18% of revenue [1]; revenue = 23,400 / 0.18 = 130,000 [1]. Gross profit = 39,000 [1]. Profit = 15,600 [1]. Markup = 30 / 70 = 42.86% [1]. [5] Examiner insight: Check that gross profit − expenses = profit (39,000 − 23,400 = 15,600) before moving on.

8. (a) Depreciation on machine sold = 12,000 × 15% × 4 = 7,200 [1]; carrying amount = 4,800 [1]; proceeds = 4,800 − 900 = 3,900 [1]. (b) 61,000 − (52,000 − 12,000) = 21,000 [1]. (c) Charge = 61,000 × 15% = 9,150 [1]; closing accumulated depreciation = 19,500 − 7,200 + 9,150 = 21,450 [1]. [6] Examiner insight: A loss means proceeds were below carrying amount, so subtract; adding the loss is a common sign error.

9. (a) Assets 21,000 + 2,400 + 1,800 + 3,150 = 28,350 [1]; less 2,050 + 160 = opening capital 26,140 [1]. (b) Credit sales = 22,700 + 2,100 − 1,800 = 23,000 [1]; cash sales = 61,300 + 18,400 = 79,700, so revenue = 102,700 [1]. Purchases = 31,900 + 2,460 − 2,050 = 32,310 [1]. (c) Cost of sales = 2,400 + 32,310 − 2,750 = 31,960; gross profit = 70,740 [1]. Electricity 2,280 + 240 − 160 = 2,360 [1]; rent 7,200 − 600 = 6,600 [1]; depreciation 3,000 [1]. Expenses with wages 18,400 = 30,360; profit = 40,380 [1]. (d) Bank = 3,150 + 22,700 + 61,300 − 31,900 − 2,280 − 7,200 − 14,000 = 31,770 [1]. Non-current assets 18,000; current assets 2,750 + 2,100 + 600 + 31,770 = 37,220 [1]; less current liabilities 2,460 + 240 = 2,700; net assets 18,000 + 37,220 − 2,700 = 52,520 [1]. Capital 26,140 + 40,380 − 14,000 = 52,520 [1]. [14] Examiner insight: If your statement does not balance, recheck the prepayment and accruals first; they are easy to put on the wrong side.

10. Single entry suits his current cash-only stalls: it is cheap and quick [1]. With credit customers he needs a receivables record to chase debts and spot irrecoverable debts [1]. Double entry gives a trial balance, an arithmetic check that a notebook lacks [1]. A lender will want a reliable income statement and statement of financial position [1]. Ratios such as markup and inventory turnover help him price and control inventory in the shop [1]. Against this, double entry costs time, skill or software fees [1], and the trial balance still misses some errors [1]. Judgement: the expansion makes double entry, probably through software, worth its cost [1]. [8] Examiner insight: Points must be tied to Anselm’s shop, credit sales and loan; a list of general benefits without a reasoned conclusion limits the credit available.

11. Debit side: 41,250 + 610 + 390 + 4,480 = 46,730 [1]; less opening balance 3,920 [1]; credit purchases 42,810 [1]. [3] Examiner insight: Purchases returns reduce what is owed, so they are a debit in the payables account alongside payments.

Where marks are usually lost

• Labelling a negative capital-method result as profit, or leaving it unlabelled.
• Treating an overdraft or a loan as an asset in a statement of affairs.
• Missing credit balances in the receivables ledger, or placing them beside debit balances.
• Using revenue in place of cost of sales in inventory turnover.
• Applying a markup to revenue as if it were a margin.
• Adding a loss on disposal to the carrying amount to find proceeds.
• Charging depreciation on a machine sold in a year when the policy says none.
• Evaluations that never reach a judgement about the business in the question.

Next steps

• Incomplete records revision notes
• Incomplete records study guide
• OxfordAQA A-level Accounting hub
• Printable checklist
• All free 10-minute diagnostics
• Book a free trial class

Official syllabus

OxfordAQA International AS and A-level Accounting (9615) specification, Version 1.2, for International AS exams May/June 2025 onwards and International A-level exams May/June 2026 onwards (OxfordAQA): section 3.2.4, Accounting for organisations with incomplete records.