A-LevelAccountingCompany Accounts / Capital and ReservesOct/Nov 2018Paper 1 Q161 Mark
The statement of financial position of a business on 31 December 2017 showed the following. retained earnings $136 000 general reserves $28 000 share premium $55000 During the year ended 31 December 2017 the business had made a profit for the year of $25000 and had transferred $10000 to the general reserve. What was the total of revenue reserves on 1 January 2017?
A$101000
B$139000
C$149000
D$194000
✓ Correct Answer
The correct answer is B. This question tests the candidate's understanding of company accounts / capital and reserves within the Accountingsyllabus. The examiner's mark scheme requires...
📋 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...
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