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Exam-style practice

Partnerships practice questions

Practise mixed syllabus-aligned questions for Partnerships. Aligned to Cambridge IGCSE Accounting.

Practice questions

Question 1 of 2

Choose an answer, get feedback, then move sideways through the set.

Paper 2 structured question: Partnerships

Paper 2Structured Written Paper2 marks

Description

Partnership Financial Overview

XYZ Partnership has three partners: A, B, and C. The partnership agreement states that profits are shared equally. The income statement shows a profit of $90,000 for the year. Each partner has a capital account balance of $30,000. Drawings for the year were $10,000 for each partner.

  1. a

    Calculate the amount of profit each partner will receive after appropriations.

    Aim for approximately 2 distinct marking points.

    [2]