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O-LevelAccountingAccounting procedures7707/12 · Oct/Nov 2025 · Q231 Mark

Raj and Rohit are in partnership sharing profits and losses in the ratio of 2: 1. Raj is entitled to an annual salary of $3000. The profit for the year was $14 100 for the year ended 31 December 2024. On 1 January 2024, Raj's current account had a debit balance of $1800. What was the credit balance on Raj's current account on 1 January 2025?

A$8600
B$10400
C$12200
D$12400

✓ Correct answer

A: $8600

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About this question

Topic
Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, Oct/Nov 2025 Paper 1 Variant 2, question 23.

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