Question 1 · Section A · Syllabus C2 marks
Double entry
Kelso Co made this transaction: sold goods on credit.
What is the double entry to record it? (2 marks)
Practice for the ACCA Financial Accounting (FA) exam.
Original questions in the exam's two sections, with full workings and double entries.
The only interactive course with a tutor that finds your weak spots and fixes them.
Two hours, two sections, 50% to pass
The exam is computer based and booked on demand. Every question is compulsory, and the most recent pass rate ACCA shows is 71% (June 2026).
70 marks
Section A
35 objective test questions of 2 marks each, across the whole syllabus.
30 marks
Section B
Two 15-mark multi-task questions: consolidation and accounts preparation.
Start with a free 36-minute diagnostic
15 questions across the syllabus, no signup. You get your score beside the 50% pass mark, the topic to fix first, a short lesson on it and a study plan.
The whole syllabus, A to I
Every area of ACCA’s study guide has lessons and practice, from double entry to consolidated statements.
- AThe context and purpose of financial reporting
- BAccounting principles, concepts and qualitative characteristics
- CThe use of double-entry bookkeeping and accounting systems
- DRecording transactions and events
- EReconciliations
- FPreparing a trial balance
- GPreparing financial statements
- HPreparing basic consolidated financial statements
- IInterpretation of financial statements
Try three questions
Answer, then check: every box is marked, and the working shows each double entry and figure.
Question 2 · Section A · Syllabus D4 to D62 marks
Straight-line depreciation for part of a year
Marlow Co bought a machine on 1 May 20X5 for $60,000. It has a useful life of 5 years and an estimated residual value of $3,000. Depreciation is charged on a straight-line basis, pro rata for each month of ownership. The year end is 31 December.
What is the depreciation charge for the year ended 31 December 20X5? (2 marks)
Question 3 · Section A · Syllabus H2 marks
Goodwill on acquisition
Thorne Co acquired 60% of the 394,000 $1 equity shares of Kelso Co. It paid $274,000 in cash and issued 1 of its own shares for every 2 shares acquired. Thorne Co's shares had a fair value of $5 each at the acquisition date.
At acquisition Kelso Co had retained earnings of $157,000, and the fair value of its net assets equalled their carrying amount. The non-controlling interest is measured at its fair value of $190,000.
What is the goodwill arising on acquisition? (2 marks)
In the course
- 17 interactive lessons, one for every topic
- 370 original questions with full workings, including 20 multi-task questions
- 2 timed two-hour practice exams laid out like the real one
Guides
Financial Accounting Genius Pro
£49one payment
- 17 interactive lessons
- 370 practice questions
- 2 timed two-hour practice exams
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