TheoryFree AAT Qualification Test Prep Practice Test
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AAT Qualification Test Prep Questions
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Q1A business incurred £2,000 for machine repairs but debited the Machinery at Cost account. Depreciation is charged at 20% per annum (straight-line). What is the impact on the Net Profit?
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✓ Correct answer: Net profit overstated by £1,600
Capitalizing the repair overstates profit by £2,000. The resulting depreciation charge ($$2,000 \times 20\%$$) reduces profit by £400. The net effect is an overstatement of $$2,000 - 400 = 1,600$$.
Q2The Receivables Control Account balance is £15,500. Calculate the adjusted control account balance using the discovered errors listed below. Error Description Amount Sales Day Book overcast £100 Sales return omitted from Control Account £50 Customer balance omitted from List of Balances £150
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✓ Correct answer: £15,350
Start with £15,500. Deduct £100 for the Sales Day Book overcast and £50 for the omitted return. The list omission does not affect the control account. Adjusted balance: $$15,500 - 100 - 50 = 15,350$$.
Q3Calculate the closing balance of the VAT Control Account (Standard Rate 20%) using the figures below. The opening balance was zero. Transaction Type Net Amount Sales £50,000 Purchases £22,000 Bad Debt Relief (VAT portion) £200
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✓ Correct answer: £5,400 Credit
Output VAT on sales = $$$50{,}000 \times 20\% = 10{,}000$$$ (Credit). Input VAT on purchases = $$\(22,000 \times 20\% = 4,400\)$$ (Debit). Bad debt relief is a reclaim of output VAT previously paid, treated as Input VAT = 200 (Debit). Balance: $$\(10{,}000\ (\mathrm{Cr}) - 4{,}400\ (\mathrm{Dr}) - 200\ (\mathrm{Dr}) = 5{,}400\)$$ Credit.
Q4The initial trial balance total is £250,000. What is the redrafted trial balance total after processing the adjustments below? Adjustment Required Amount Accrue for electricity £500 Prepay for insurance £200
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✓ Correct answer: £250,500
Accruals increase expenses (Dr) and liabilities (Cr), adding £500 to both trial balance column totals. Prepayments increase assets (Dr) and decrease expenses (Cr Expense -> Dr decrease, effectively shifting Dr balance from Expense to Asset). Prepayments do not change the total Dr or Cr value, only the classification. New total: $$$250{,}000 + 500 = 250{,}500$$$.
Q5A suspense account shows a debit balance of £150. Which single error could explain this balance?
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✓ Correct answer: Sales account overcast by £150
A suspense debit implies trial balance credits exceed debits. Overcasting Sales (a credit account) creates excess credits. This mismatch requires a balancing debit entry in the suspense account.
Q6A contra entry of £400 is agreed to offset a balance in the purchases ledger against the sales ledger. Select the correct journal entry.
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✓ Correct answer: Dr PLCA £400, Cr SLCA £400
Contras reduce both balances. PLCA is a liability (debit to decrease). SLCA is an asset (credit to decrease).
Q7A VAT-registered supplier issues a credit note for £300 plus 20% VAT. How is this recorded in the VAT Control Account?
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✓ Correct answer: Credit £60
Original purchases create Input VAT (Debit). A return (credit note) reverses this. Therefore, you must Credit the VAT Control Account to reduce the recoverable Input VAT. The amount is $$$300 \times 20\% = 60$$$.
Q8Machinery cost £40,000 with accumulated depreciation of £16,000. Depreciation is charged at 25% (reducing balance). Calculate the Depreciation Expense and Accumulated Depreciation for the current trial balance.
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✓ Correct answer: Exp £6,000, Acc £22,000
Net Book Value (NBV) = $$$40{,}000 - 16{,}000 = 24{,}000$$$. Expense = $$\(24{,}000 \times 25\% = 6{,}000\)$$. New Accumulated Depreciation = $$\(16{,}000\ (\mathrm{b/f}) + 6{,}000 = 22{,}000\)$$.
Q9Identify which of the following scenarios is classified as an error of commission. Error Scenarios Posting an invoice to the wrong customer account Posting a vehicle purchase to motor expenses Omitting a purchase invoice entirely Recording a £54 sale as £45
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✓ Correct answer: Posting an invoice to the wrong customer account
Commission errors involve the wrong account within the correct class (e.g., wrong customer). Principle errors involve the wrong class (e.g., motor expenses).
Q10The Cash Book shows a debit balance of £2,500. Calculate the updated Cash Book balance using the Bank Reconciliation data below. Item Amount Unpresented cheques £400 Outstanding lodgements £300 Bank charges (not in Cash Book) £50 Customer BACS receipt (not in Cash Book) £200
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✓ Correct answer: £2,650
Only items not yet recorded in the Cash Book require adjustment. Start with £2,500. Deduct Bank charges (£50). Add BACS receipt (£200). Updated Balance = $$\(2{,}500 - 50 + 200 = 2{,}650\)$$. Unpresented cheques and outstanding lodgements are timing differences for the Reconciliation Statement, not Ledger adjustments.
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