A-LevelAccountingPreparation of financial statements9706/12 · May/June 2022 · Q161 Mark

The following information is available for a partnership. profit for the year before interest $15000 interest on partner's loan to the firm $1000 interest on capital $2000 drawings $10000 Which profit figure is to be appropriated between the partners?

A$3000

B$13000

C$14000

D$15000

✓ Correct answer

C: $14000

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Topic: Preparation of financial statements, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, May/June 2022 Paper 1 Variant 2, question 16.

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