A-LevelAccountingFinancial StatementsFeb/Mar 2023Paper 1 Q41 Mark
At the start of a financial period, the owner's capital account of a business showed a balance of $85000. During the period, the owner introduced to the business a private vehicle worth $30000. In addition, the owner made cash drawings of $15000. The business made a net loss for the period of $22000. What is the balance on the capital account at the end of the period?
A$18000
B$48.000
C$78000
D$100000
✓ Correct Answer
The correct answer is C: $78000
📋 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.
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