A-LevelAccountingPreparation of financial statements9706/12 · Oct/Nov 2016 · Q151 Mark
A partnership earned an average profit during the year of $15000 per month. Halfway through the year D and E were joined by a new partner F and profits were shared equally before and after the change. In the first half of the year D transferred his private vehicle to the partnership at a valuation of $12000. D's drawings amounted to $60000 during the year. What was the increase in D's current account balance during the year?
A$15000
B$30000
C$75000
D$87000
✓ Correct answer
A: $15000
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