OxfordAQA IGCSE Accounting: Incomplete records and single entry (9215) – 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.

These questions are aligned to the OxfordAQA International GCSE Accounting (9215) specification, version 1.2, for exams from May/June 2026 onwards. They cover the incomplete records content of section 3.4 (topic 4, Preparation of financial statements): statements of affairs, profit where records are insufficient to prepare income statements, and the benefits and limitations of single and double entry. All amounts are in dollars and all businesses are invented. Learn the content in the study guide and the revision notes. Other links: the course hub, the checklist and the free diagnostics.

Questions

1. State two features of a single entry system of record keeping. [2]

2. Explain what a statement of affairs is and how it helps an owner whose records are incomplete. [3]

3. Quarry Bank Tools is a sole trader business. On 1 March the owner listed: fixtures 6,400; inventory 4,100; trade receivables 2,350; bank 1,780; cash 220; trade payables 3,060; loan from a relative (repayable in four years) 5,000. Prepare the statement of affairs at 1 March and state the capital. [4]

4. At the next 28 February, Quarry Bank Tools had capital of 9,540. The opening capital was 6,790. During the year the owner took drawings of 8,400 and paid 1,500 of personal savings into the business. Calculate the profit for the year. [4]

5. After the profit in question 4 was found, the owner noticed four things that had not been included in the closing figures. A customer who owed 260 had left the country and will not pay. Insurance of 190 for the following month had been paid but not counted as an asset. Depreciation of 640 on fixtures had not been recorded. Inventory with a cost of 150 had been taken home by the owner and not recorded. Starting from the profit of 9,650, calculate the corrected profit and explain why a change to the closing assets and liabilities changes profit. [6]

6. Maya runs a clothing stall on credit terms and keeps no sales ledger. Trade receivables were 2,350 at the start of the year and 2,780 at the end. Customers paid 31,900. Discount allowed was 340, irrecoverable debts written off were 210 and goods returned by customers were 480. Calculate the credit sales for the year. [4]

7. A trader’s trade payables were 3,060 at the start of the year and 2,640 at the end. During the year the trader paid suppliers 19,750, received discount of 290 and returned goods worth 410. Calculate the credit purchases. [3]

8. Yarrow Court Florists banked all receipts and made all payments from the business bank account. For the year: opening bank balance 1,650; cheques from customers 24,300; cash sales banked 5,800; a bank loan received 3,000; paid to suppliers 15,600; wages 7,200; rent 2,400; closing bank balance 2,150. The owner did not record drawings taken from the bank. Calculate the drawings. [4]

9. Explain two benefits to a business with 40 credit customers of keeping double entry records instead of single entry records. [4]

10. Explain two reasons why a profit figure found by comparing capital at two dates is less useful to an owner than an income statement. [4]

11. Osprey Quay Cafe is a sole trader business with no ledger. On 1 April the owner counted: equipment 5,500; inventory 1,240; bank 1,960; cash 180; trade payables 1,430. On 31 March the next year the owner counted: equipment 4,950 (after depreciation of 550); inventory 1,390; bank 3,880; cash 240; trade payables 1,610. Electricity of 320 was also owing. During the year the owner took drawings of 12,000 and paid in 3,000 from a family loan treated as capital.

(a) Prepare the statement of affairs at 1 April. [3] (b) Prepare the statement of affairs at 31 March. [3] (c) Calculate the profit for the year. [3] (d) Explain why the owner would still want an income statement, and state one thing it would show that your answer to part (c) does not. [3]

12. Yarrow Court Florists (see question 8) has 60 regular business customers who buy on credit, one employee and a plan to apply to a bank for a larger loan. The owner uses single entry. Evaluate whether the owner should change to double entry. [6]

Answers

1. Any two from: each transaction is recorded once only; usually only cash and bank movements are recorded; there is no trial balance; there are no full ledger accounts. One mark each [1] [1]. [2] Examiner insight: Features are statements about how the system works, not opinions; “cheap” is a benefit and does not answer this question.

2. A statement of affairs is a list of the assets and liabilities of a business at a given date [1]. Capital is the balancing figure, found as assets minus liabilities [1]. Comparing capital at two dates, with drawings and capital introduced, lets the owner find profit when there are not enough records for an income statement [1]. [3] Examiner insight: A three-mark “explain” generally needs what it is, how it is built, and why it helps; a definition alone leaves marks unclaimed.

3. Assets: fixtures 6,400, inventory 4,100, trade receivables 2,350, bank 1,780 and cash 220 total 14,850 [1]. Liabilities: trade payables 3,060 are current and the loan 5,000 is non-current [1] (total 8,060) [1]. Capital = 14,850 − 8,060 = 6,790 [1]. [4] Examiner insight: A layout with headed groups and totals is easier to credit than loose figures; the loan is a liability, and leaving it out gives the wrong capital.

4. Increase in capital = 9,540 − 6,790 = 2,750 [1]. Add drawings 8,400 [1]. Deduct capital introduced 1,500 [1]. Profit = 2,750 + 8,400 − 1,500 = 9,650 [1]. [4] Examiner insight: Show each line so that every step of your method is visible and the sign of each adjustment is clear.

5. Irrecoverable debt reduces profit by 260 [1]. Prepaid insurance increases profit by 190 [1]. Depreciation reduces profit by 640 [1]. Goods taken by the owner are drawings, so profit is higher by 150 [1]. Corrected profit = 9,650 − 260 + 190 − 640 + 150 = 9,090 [1]. A change to a closing asset or liability changes closing capital by the same amount, so profit changes by that amount [1]. [6] Examiner insight: Say the direction of each item as well as the amount; a list of numbers without the reason is harder to credit.

6. Credit sales = closing receivables + cash received + discount allowed + irrecoverable debts + returns inwards − opening receivables [1]. Includes all five items on the right-hand side [1]: 2,780 + 31,900 + 340 + 210 + 480 [1] − 2,350 = 33,360 [1]. [4] Examiner insight: Opening receivables is the item most often put on the wrong side; a receivables account drawn out in full helps you see the sides.

7. Credit purchases = closing payables + payments + discount received + returns outwards − opening payables [1]. 2,640 + 19,750 + 290 + 410 = 23,090 [1]. 23,090 − 3,060 = 20,030 [1]. [3] Examiner insight: Discount received and returns outwards both reduce what is owed, so they sit with the payments.

8. Opening balance and receipts: 1,650 + 24,300 + 5,800 + 3,000 = 34,750 [1]. Payments other than drawings: 15,600 + 7,200 + 2,400 = 25,200 [1]. Balance before drawings = 34,750 − 25,200 = 9,550 [1]. Drawings = 9,550 − 2,150 = 7,400 [1]. [4] Examiner insight: The loan is a receipt but not income; do not leave it out of the bank total, and do not treat it as sales.

9. Any two developed benefits, each worth a benefit mark and a development mark. For example: a trial balance can be taken out [1], which checks that debits equal credits so some errors are found before statements are prepared [1]. Ledger accounts for each customer are kept [1], so the owner can see who owes money and chase late payers [1]. A further acceptable pair is that full statements can be prepared directly, which is easier to show to a bank or tax authority. [4] Examiner insight: Each benefit needs a development linked to the business. The 40 credit customers point towards receivables control, not just “more accurate”.

10. Any two developed reasons, each worth a reason mark and a development mark. For example: it gives only one figure, net profit [1], so the owner cannot see sales, gross profit or individual expenses [1]. It depends on the valuations of assets and liabilities at the two dates [1], so careless counting or valuation changes profit with nothing to check it against [1]. A further acceptable pair is that it does not show which costs to cut, so it cannot be compared line by line with the previous year. [4] Examiner insight: “It is less accurate” is too vague. State what the income statement shows that the capital method cannot.

11. (a) Total assets: 5,500 + 1,240 + 1,960 + 180 = 8,880 [1]. Liabilities: trade payables 1,430 [1]. Opening capital = 8,880 − 1,430 = 7,450 [1]. [3] (b) Total assets: 4,950 + 1,390 + 3,880 + 240 = 10,460 [1]. Liabilities: trade payables 1,610 + electricity owing 320 = 1,930 [1]. Closing capital = 10,460 − 1,930 = 8,530 [1]. [3] (c) Increase in capital = 8,530 − 7,450 = 1,080 [1]. Add drawings 12,000 [1]. Deduct capital introduced 3,000: profit = 10,080 [1]. [3] (d) The income statement shows how the profit was earned [1]. It would show sales, cost of sales or gross profit, or individual expenses [1]. The owner can then see whether sales or costs need to change, which the single profit figure cannot show [1]. [3] Examiner insight: Label each line and carry your figures from one part to the next; the owed electricity is a liability and is easy to forget when the question lists it separately.

12. Benefits in favour: a trial balance and ledger accounts for 60 credit customers allow control of receivables [1]; full statements prepared directly are more reliable evidence for a bank considering a larger loan [1]. Costs and limitations: double entry takes more time and cost, and needs bookkeeping skill [1]; with one employee the owner may have limited time or need training [1]. Judgement: a reasoned conclusion, such as that the owner should change because the loan application and credit customers outweigh the extra cost [1], supported by a reason or a condition, for example using accounting software or a part-time bookkeeper [1]. [6] Examiner insight: Evaluation answers are credited for a conclusion that follows from the points made. Balance both sides and use the facts given.

Where marks are usually lost

• Adding capital introduced to profit instead of deducting it.
• Deducting drawings instead of adding them back.
• Quoting closing capital as profit and not subtracting opening capital.
• Leaving out a loan, overdraft or amount owing from the liabilities.
• Not stating whether the answer is a profit or a loss.
• Leaving out returns, discount or irrecoverable debts from a totals account.
• Forgetting opening balances in a totals account.
• Treating a loan received as sales in a bank summary.
• Giving a comment on systems with no link to the business in the question.
• Saying double entry means there are no errors.

Next steps

• Revise with the revision notes.
• Re-read the study guide.
• Check the course hub and the checklist.
• Take the free 10-minute diagnostics.
• Book a free trial class: trial class.

Frequently asked questions

Where do students usually lose marks on incomplete records questions in OxfordAQA 9215? Common losses are adding capital introduced to profit instead of deducting it, deducting drawings instead of adding them back, and quoting closing capital as profit without subtracting opening capital.

What should I check in a totals account question? Include the opening balances and every item that affects the account, such as returns, discounts and irrecoverable debts. Leaving any of them out gives the wrong credit sales or purchases figure.

Should I say whether the answer is a profit or a loss? Yes. Always label the result as a profit or a loss. Leaving it unlabelled loses marks.

How should I comment on single entry and double entry systems? Link each point to the business in the question, such as its number of credit customers. Generic comments, or saying double entry means there are no errors, lose marks.

Official syllabus

OxfordAQA International GCSE Accounting (9215), specification version 1.2, for International GCSE exams May/June 2026 onwards (OxfordAQA). Section 3.4, Preparation of financial statements: accounting for organisations with incomplete records.