Limited companies: past paper questions
Real questions on limited companies
The newest 20 of 20 written questions. Open one to see it on the real paper.
- 7707/23 · October/November 2025 · Q5c[3]
Prepare the retained earnings column only of the statement of changes in equity of P Limited for the year ended 30 June 2025. P Limited Statement of Changes in Equity (retained earnings) for the year ended 30 June 2025 Retained earnings $ Additional information at 30 June 2025: $ 205 000 59 600 83 000 11 324 23 030 44...
See it on the paper → - 7707/23 · October/November 2025 · Q5d[9]
$ $ $ P Limited Statement of Financial Position at 30 June 2025 (d) Prepare the statement of financial position for P Limited at 30 June 2025.
See it on the paper → - 7707/21 · May/June 2025 · Q4a[4]
Prepare the statement of changes in equity for H Limited for the year ended 30 April 2025. H Limited Statement of Changes in Equity for the year ended 30 April 2025 Ordinary share capital $ General reserve Retained earnings Total $ $ $ On 1 May 2024 120 000 20 000 33 635 173 635 On 30 April 2025 Details Fixtures and eq...
See it on the paper → - 7707/21 · May/June 2025 · Q4b[7]
Prepare the statement of financial position for H Limited at 30 April 2025. H Limited Statement of Financial Position at 30 April 2025 $ $
See it on the paper → - 7707/21 · May/June 2025 · Q4c[1]
State the meaning of the term ‘equity’.
See it on the paper → - 7707/22 · May/June 2025 · Q2d[5]
Advise Farah and Salma whether or not they should make the above changes. Justify your answer with advantages and disadvantages to them of making these changes.
See it on the paper → - 7707/21 · May/June 2024 · Q3a[6]
Prepare the income statement for Q Limited for the year ended 31 January 2024. Q Limited Income statement for the year ended 31 January 2024 $ $
See it on the paper → - 7707/21 · May/June 2024 · Q3b[3]
Calculate the retained earnings at 31 January 2024.
See it on the paper → - 7707/21 · May/June 2024 · Q3c[6]
Prepare the statement of financial position for Q Limited at 31 January 2024. Q Limited Statement of financial position at 31 January 2024 $ $ Zahra and Panya would like to expand the company and increase sales. In order to do this they are considering increasing the amount spent on advertising by 100%.
See it on the paper → - 7707/23 · October/November 2023 · Q5a[6]
Prepare the income statement for B Limited for the year ended 30 June 2023. B Limited Income Statement for the year ended 30 June 2023 $ $
See it on the paper → - 7707/23 · October/November 2023 · Q5b[5]
Prepare the statement of changes in equity for B Limited for the year ended 30 June 2023. B Limited Statement of Changes in Equity for the year ended 30 June 2023 Details Ordinary Share capital $ General reserve Retained earnings Total $ $ $ On 1 July 2022 On 30 June 2023
See it on the paper → - 7707/21 · May/June 2023 · Q5b[8]
Prepare the statement of financial position for Q Limited at 31 March 2023. Q Limited Statement of Financial Position at 31 March 2023 $ $ $
See it on the paper → - 7707/23 · October/November 2022 · Q1a[9]
Prepare the income statement of Anika for the year ended 31 August 2022. Anika Income Statement for the year ended 31 August 2022 $ $ Workings:
See it on the paper → - 7707/23 · October/November 2022 · Q1b[3]
Prepare the capital account for the year ended 31 August 2022 showing the balance brought down at 1 September 2022. Anika Capital account Date Details $ Date Details $ Anika plans to buy more property to rent out. She will need additional capital for this. She has savings earning 3% per annum which she could use for th...
See it on the paper → - 7707/23 · October/November 2022 · Q4a[7]
Prepare the statement for the changes in equity for the year ended 31 August 2022. C Limited Statement of Changes in Equity for the year ended 31 August 2022 Details Share capital $ General reserve $ Retained earnings $ Total $
See it on the paper → - 7707/22 · October/November 2020 · Q3c[12]
Prepare the income statement for the year ended 30 September 2020. JP Limited Income Statement for the year ended 30 September 2020 $ $
See it on the paper → - 7707/22 · October/November 2020 · Q3d[4]
Complete the table by placing a tick (✓) in the correct column to indicate the effect on the equity of JP Limited of each of the following. The first one has been completed as an example. Increase Decrease No effect ✓ Issue additional debentures Issue additional ordinary shares Payment of ordinary share dividend Propos...
See it on the paper → - 7707/23 · October/November 2020 · Q4c[5]
Prepare the statement of changes in equity for the year ended 30 September 2020. DW Limited Statement of Changes in Equity for the year ended 30 September 2020 Details Share capital $ General reserve $ Retained earnings $ Total On 30 September 2020 On 1 October 2019 $
See it on the paper → - 7707/23 · October/November 2020 · Q4d[9]
Prepare the statement of financial position at 30 September 2020. DW Limited Statement of Financial Position at 30 September 2020 $ $ $ PLEASE TURN OVER
See it on the paper → - 7707/21 · May/June 2020 · Q5b[7]
Prepare the statement of financial position for MPT Limited at 30 April 2020. MPT Limited Statement of Financial Position at 30 April 2020 $ $ $ The directors of MPT Limited are considering using the general reserve to repay the bank overdraft. REQUIRED
See it on the paper →
What examiners said
The income statement of a service business had to be prepared. There were some good answers. Common errors included: • Inclusion of extraneous items such as bank, non-current assets, dividends, retained earnings and share capital. • Incorrect adjustments made for the revenue and the insurance expense. • Incorrect depreciation charges where it was quite common to see the depreciation for the year...
— Examiner report, October/November 2023, 7707/23 Q5(a) (Cambridge)
Candidates were required to complete a statement of changes in equity. Some candidates were familiar with this type of statement and were able to earn good marks. Other candidates appeared less familiar with this type of statement and struggled to earn marks. Common errors included: • Inclusion of extraneous items such as bank and non-current assets. • Unacceptable wording such as ‘general reserv...
— Examiner report, October/November 2023, 7707/23 Q5(b) (Cambridge)
Using information provided candidates were required to prepare the statement of financial position of a limited company. Many candidates produced good answers and were able to earn high marks. Common errors included: • Omission of the column headings for the cost, provision for depreciation and net book value of the non-current assets. • Omission of section headings and section totals. • Incorre...
— Examiner report, May/June 2023, 7707/21 Q5(b) (Cambridge)
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