A-LevelAccountingPartnership AccountsOct/Nov 2014Paper 1 Q131 Mark
The following information is available for a partnership at 31 December 2013. $ residual loss 3000 total salaries to partners 5000 total interest on capital 27000 total drawings 14000 total interest on drawings 700 How much is the profit for the year?
A$14300
B$20 300
C$28 300
D$34 300
✓ 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...
📋 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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