A-LevelAccountingPartnership AccountsOct/Nov 2014Paper 1 Q91 Mark
Goodwill is adjusted in partners' accounts when there is a change in the profit sharing ratio. How is this recorded?
Acapital accounts in new profit sharing ratio, capital accounts in old profit sharing ratio
Bcapital accounts in old profit sharing ratio, capital accounts in new profit sharing ratio
Ccurrent accounts in new profit sharing ratio, current accounts in old profit sharing ratio
Dcurrent accounts in old profit sharing ratio, current accounts in new profit sharing ratio
✓ Correct Answer
The correct answer is A. This question tests the candidate's understanding of partnership accounts within the Accountingsyllabus. The examiner's mark scheme requires...
📋 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...
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