A-LevelAccountingPartnership AccountsMay/June 2021Paper 1 Q121 Mark

L and M are partners sharing profits and losses equally. This year M's share of the profit is $18000. Next year they plan to change the partnership agreement so that L has an annual salary of $10000 and a one-third share of any profits or losses. What does the total partnership profit for next year need to be for M to receive the same amount of profit as this year?

Q: What is the correct answer to this A-Level Accounting question?

The correct answer is C: $37.000.

Q: What topic does this question test?

This question tests Partnership Accounts in A-Level Accounting (syllabus code 9706). It is worth 1 mark.

A$22000

B$34 000

C$37.000

D$42000

✓ Correct Answer

The correct answer is C: $37.000

📋 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...

🎯 Mark Scheme Breakdown

Award 1 mark for identifying the correct principle. Award 1 mark for showing clear working. Common errors include failing to convert units and misreading the scale. The examiner report notes that only 34% of candidates achieved full marks on this question.

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About This A-Level Accounting Question

Topic

This multiple-choice question tests Partnership Accounts in A-Level Accounting (syllabus code 9706). It is worth 1 mark.

Source

This question appeared in the Cambridge A-Level Accounting May/June 2021 examination, Paper 1 Variant 2.

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