A-LevelAccountingPreparation of financial statements9706/12 · May/June 2011 · Q161 Mark
A partnership provides the following financial information for the year ended 30 June 2011. $000 profit from operations 240 bank interest payable 21 interest credited to current accounts 15 drawings 100 partnership salaries 95 What is the residual balance of profits to be appropriated between the partners?
A$9000
B$104 000
C$109 000
D$204 000
✓ Correct answer
C: $109 000
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