A-LevelAccountingPreparation of financial statements9706/12 · Feb/Mar 2019 · Q141 Mark

Z is admitted as a new partner in the partnership of X and Y. He brings the following into the business. $ cash 20000 inventory 6000 vehicle 11000 Interest on capital is calculated at 10% per annum. There is no goodwill on Z’s admission. What is Z’s interest on capital per annum?

A$1700

B$2000

C$3100

D$3700

✓ Correct answer

D: $3700

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Topic: Preparation of financial statements, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, Feb/Mar 2019 Paper 1 Variant 2, question 14.

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Z is admitted as a new partner in the partnership of X and Y. He brings the following into the business. $ cash 20000 inventory 6000 vehicle 11000 Interest on capital is calculated at 10% per annum. There is no goodwill on Z’s admission. What is Z’s interest on capital per annum?

✓ Correct answer

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