A-LevelAccountingPartnership AccountsFeb/Mar 2025Paper 1 Q161 Mark
Bella and Charlie are in partnership, sharing profits and losses in the ratio 3: 2. They have contributed capital in the same ratio. The partners provided the following information for the financial year. interest on drawings (Bella): $850 interest on drawings (Charlie): $550 salary (Bella): $16900 salary (Charlie): – profit share (Bella): $6000 profit share (Charlie): $4000 Profit for the year was $28000. What is the interest on capital for Bella?
A$660
B$1100
C$1500
D$2500
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of partnership accounts within the Accountingsyllabus. The examiner's mark scheme requires...
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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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