A-LevelAccountingPartnershipsMay/June 2013Paper 1 Q151 Mark
X and Y have been in partnership for some years sharing profits in the ratio of 3:2. Z joins the partnership and introduces cash of $40000. The profit-sharing will now be X - 40%, Y - 30% and Z - 30%. Goodwill is valued at $60000. After joining the partnership, what is the balance of Z's capital account?
A$18000 credit
B$22000 debit
C$22000 credit
D$40000 credit
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of partnerships within the Accountingsyllabus. The examiner's mark scheme requires...
📋 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...
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