O-LevelAccountingAccounting procedures7707/11 · May/June 2010 · Q211 Mark

A partner had a debit balance on his current account of $1600 on 1 January 2009. On 31 December 2009 the following amounts were entered in the partner's current account: interest on capital $500 share of profit $4000 What was the balance on the partner's current account on 1 January 2010?

Acredit $1900

Bcredit $2900

Cdebit $5100

Ddebit $6100

✓ Correct answer

B: credit $2900

Oracle Prep sorts past-paper questions by topic, so you can drill Accounting procedures and see which topics are most likely to come up next.

Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2010 Paper 1 Variant 1, question 21.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content