A-LevelAccountingPartnership AccountsFeb/Mar 2019Paper 1 Q131 Mark
Meena was a sole trader. On 1 July 2018, Hanna entered into a partnership with her sharing profits equally. Profit for the year ended 31 December 2018 was $168000 accruing evenly over the year. An irrecoverable debt of $8000 was incurred during March 2018 and it was agreed that this would be paid for by Meena. What is Hanna’s share of profit?
A$40000
B$42000
C$44000
D$46000
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of partnership accounts within the Accountingsyllabus. The examiner's mark scheme requires...
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Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
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