A-LevelAccountingPartnership AccountsFeb/Mar 2019Paper 1 Q151 Mark

L and M are in partnership sharing the profits equally. No goodwill account is maintained in the accounts. N joins the partnership and pays $30000 cash for his share of the goodwill. Profits are to be shared equally between L, M and N. What are the increases in the capital accounts on the admission of N into the partnership?

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

The correct answer is C: L 15000, M 15000, N -.

Q: What topic does this question test?

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

AL 10000, M 10000, N 10000

BL -, M -, N 30000

CL 15000, M 15000, N -

DL -, M -, N -

✓ Correct Answer

The correct answer is C: L 15000, M 15000, N -

📋 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 Feb/Mar 2019 examination, Paper 1 Variant 2.

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