A-LevelAccountingPreparation of financial statements9706/12 · Oct/Nov 2025 · Q171 Mark
Lee and Mia are in partnership sharing profits and losses in the ratio 4:3 respectively. An error was made when their appropriation account for the year was prepared. Interest on drawings was omitted: Lee $90 and Mia $50. By what amount will the balance of Lee's current account decrease when this error is corrected?
A$10
B$30
C$150
D$170
✓ Correct answer
A: $10
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