O-LevelAccountingAccounting proceduresOct/Nov 2020Paper 1 Q211 Mark

A partnership maintains both current and capital accounts for each partner. An inexperienced book-keeper prepared the following account which contains errors. Owen capital account $ $ balance c/d 135000 balance b/d 100000 loan made to partnership 30000 interest on capital 5000 135000 135000 What should appear as the closing balance on Owen's capital account?

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

The correct answer is B: $100000.

Q: What topic does this question test?

This question tests Accounting procedures in O-Level Accounting (syllabus code 7707). It is worth 1 mark.

A$75000

B$100000

C$105000

D$130000

✓ Correct Answer

The correct answer is B: $100000

📋 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.

🔒

Unlock the Examiner's Analysis

Join thousands of Cambridge students already using Oracle Prep

About This O-Level Accounting Question

Topic

This multiple-choice question tests Accounting procedures in O-Level Accounting (syllabus code 7707). It is worth 1 mark.

Source

This question appeared in the Cambridge O-Level Accounting Oct/Nov 2020 examination, Paper 1 Variant 3.

Practice on Oracle Prep

Oracle Prep provides AI-powered practice for all Cambridge O-Level and A-Level subjects. Our platform includes topic predictions with 87.7% accuracy, AI essay grading, and a comprehensive question bank spanning 25 years of past papers across 29 subjects.