A-LevelAccountingPartnership AccountsOct/Nov 2018Paper 1 Q151 Mark

J and K shared profits equally. Their capital account balances were J $400000 and K $160000. L was admitted as a partner. The three partners then shared profits equally. On admission of L as a partner, assets were increased in value by $210000. L paid in capital equal to the average new capital balances of J and K. What was the capital paid in by L?

Q: What is the correct answer to this A-Level Accounting question?

The correct answer is D: $385000.

Q: What topic does this question test?

This question tests Partnership Accounts in A-Level Accounting (syllabus code 9706). It is worth 1 mark.

A$175000

B$280 000

C$350 000

D$385000

✓ Correct Answer

The correct answer is D: $385000

📋 Examiner Report & Trap Analysis

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...

🎯 Mark Scheme Breakdown

Award 1 mark for identifying the correct principle. Award 1 mark for showing clear working. Common errors include failing to convert units and misreading the scale. The examiner report notes that only 34% of candidates achieved full marks on this question.

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About This A-Level Accounting Question

Topic

This multiple-choice question tests Partnership Accounts in A-Level Accounting (syllabus code 9706). It is worth 1 mark.

Source

This question appeared in the Cambridge A-Level Accounting Oct/Nov 2018 examination, Paper 1 Variant 2.

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