A-LevelAccountingPreparation of financial statements9706/12 · Oct/Nov 2009 · 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
C: $27 500
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