A-LevelAccountingPartnership AccountsMay/June 2017Paper 1 Q131 Mark
Ali, Bharti and Chan were in partnership sharing profit and losses in the ratio 3:2:1. Bharti retired from the partnership on 30 June 2016. The following were the balances available at 30 June 2016. Ali ($) Bharti ($) Chan ($) capital accounts 60000 Cr 40000 Cr 20000 Cr current accounts 18650 Cr 6 100 Dr 8950 Cr On her retirement, Bharti retained a partnership motor vehicle at an agreed valuation of $4000. Goodwill was valued at $39000. How much was payable to Bharti on her retirement?
A$33900
B$42900
C$46 900
D$50 900
✓ Correct Answer
The correct answer is B. 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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