A-LevelAccountingPartnership AccountsMay/June 2017Paper 1 Q141 Mark
A partnership maintains both capital and current accounts for its partners. What is the correct accounting entry for recording interest on capital for partner X?
Aaccount to be debited appropriation account to be credited X's capital
Baccount to be debited appropriation account to be credited X's current
Caccount to be debited X's capital account to be credited appropriation
Daccount to be debited X's current account to be credited appropriation
✓ 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...
📋 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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