A-LevelAccountingPreparation of financial statements9706/12 · Oct/Nov 2016 · Q141 Mark

The following information relates to a partnership. $ profit from operation 90000 loan interest 3200 interest on drawings 6000 drawings 40000 interest on capital 11000 What is the residual profit to be appropriated amongst the partners?

A$41800

B$69800

C$81800

D$91800

✓ Correct answer

C: $81800

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Topic: Preparation of financial statements, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, Oct/Nov 2016 Paper 1 Variant 2, question 14.

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