A-LevelAccountingSole Trader Accounts / Capital and Profit CalculationOct/Nov 2009Paper 1 Q121 Mark

The summarised balance sheets for a business for two years are as follows. year 1 $ year 2 $ fixed assets 9 000 12 000 current assets 6 000 8 000 less current liabilities (5 000) (6 000) net assets 10 000 14 000 The drawings in year 1 were $5000 and in year 2 $3000. What is the net profit for year 2?

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

The correct answer is D: $7000.

Q: What topic does this question test?

This question tests Sole Trader Accounts / Capital and Profit Calculation in A-Level Accounting (syllabus code 9706). It is worth 1 mark.

A$1000

B$4000

C$5000

D$7000

✓ Correct Answer

The correct answer is D: $7000

📋 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 Sole Trader Accounts / Capital and Profit Calculation in A-Level Accounting (syllabus code 9706). It is worth 1 mark.

Source

This question appeared in the Cambridge A-Level Accounting Oct/Nov 2009 examination, Paper 1 Variant 2.

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