A-LevelAccountingPartnership AccountsOct/Nov 2009Paper 1 Q131 Mark
X and Y are in partnership. Their profit and loss appropriation account shows the following. X $ Y $ total $ interest on capital 1 600 1 800 3 400 interest charged on drawings 500 400 900 partners' salaries 2 000 3 000 5 000 share of profit 8 000 12 000 20 000 What is the net profit before appropriations?
A$17 500
B$22 500
C$27 500
D$29 300
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of partnership accounts within the Accountingsyllabus. The examiner's mark scheme requires...
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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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