A-LevelAccountingPartnership AccountsOct/Nov 2010Paper 1 Q131 Mark

X and Y are in partnership, sharing residual profits and losses equally after the payments below are made. 1 2% interest is charged on partners' drawings 2 salary to Y of $10 000 The partners' drawings for the year were: X $12 000 Y $8000 The net profit for the current year is $52 000. How much will each partner receive in share of residual profits?

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

The correct answer is D: $21 200.

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$10 800

B$11 200

C$20 800

D$21 200

✓ Correct Answer

The correct answer is D: $21 200

📋 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 Oct/Nov 2010 examination, Paper 1 Variant 2.

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