A-LevelAccountingPartnership Accounts - Admission of a PartnerMay/June 2019Paper 1 Q111 Mark
X and Y are in partnership sharing profits and losses in the ratio 2:1. Z will be admitted with the following new arrangements. Profit and loss sharing ratio will be 2:1:2 respectively. Goodwill is valued at $90000. Z will pay the partners for his share of the goodwill. How much will Z pay X?
A$18000
B$24000
C$45000
D$60000
✓ Correct Answer
The correct answer is B. This question tests the candidate's understanding of partnership accounts - admission of a partner 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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