Partnership Accounts -Synoptic revision
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Last updated about 5 years ago
7 questions
Note from the author:
AAT L3 Partnerships
1
A partner will always have a credit balance in their current account
A partner will always have a credit balance in their current account
1
Two partners, Rob and Hussan share profits 30/70 in Hussan's favour. Profit before appropriation is £350,000. Interest on drawings amount to £5000. Rob has a salary of £30,000. Calculate the profit to be shared.
Two partners, Rob and Hussan share profits 30/70 in Hussan's favour. Profit before appropriation is £350,000. Interest on drawings amount to £5000. Rob has a salary of £30,000. Calculate the profit to be shared.
1
If you have to account for commission in an appropriation account, what do you do?
If you have to account for commission in an appropriation account, what do you do?
1
Click on the table below and complete the profit appropriation account
Click on the table below and complete the profit appropriation account
1
Complete the current account from the data below
Complete the current account from the data below
1
Select the options which are an advantage to a business to trade as a sole trader
Select the options which are an advantage to a business to trade as a sole trader
1
What type of business setup is run by trustees?
What type of business setup is run by trustees?