O-LevelAccountingAccounting proceduresOct/Nov 2025Paper 1 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
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The correct answer is A. This question tests the candidate's understanding of accounting procedures within the Accountingsyllabus. The examiner's mark scheme requires...
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