A-LevelAccountingPartnership AccountsFeb/Mar 2019Paper 1 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
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The correct answer is D. 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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