O-LevelAccountingAccounting proceduresOct/Nov 2020Paper 1 Q221 Mark
In addition to a share of the profit a partner receives interest on capital, a salary and is charged interest on drawings. How are these recorded in the ledger accounts of the partner? interest on capital | salary | interest on drawings --- | --- | --- credit capital account | credit current account | debit capital account credit current account | debit capital account | credit current account credit current account | credit current account | debit current account debit current account | debit current account | credit current account
Acredit capital account | credit current account | debit capital account
Bcredit current account | debit capital account | credit current account
Ccredit current account | credit current account | debit current account
Ddebit current account | debit current account | credit current account
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of accounting procedures 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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