A-LevelAccountingPartnership AccountsOct/Nov 2016Paper 1 Q131 Mark
X, Y and Z are in partnership sharing the profits and losses in the ratio of 2:2:1. At 31 December the following information is available. X Y Z $ $ $ capital account balances 100000 100000 50000 current account balances 20000 15000 (5000) On 31 December Z retires from the partnership. Total assets are revalued upwards by $45000. There is no goodwill. How much will Z be paid on his retirement?
A$54000
B$59000
C$60000
D$65000
✓ 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...
🔒
Unlock the Examiner's Answer
Sign up for free to reveal the correct answer, the official mark scheme breakdown, and the examiner trap analysis for this question.
Sign Up Free to Unlock →Join thousands of Cambridge students already using Oracle Prep