Accounting 9706 · AS & A Level · Preparation of financial statements

Preparation of financial statements — practice question

Refer to Source A in the insert.
(a)[8]

Calculate the profit for each period for the six months ended 30 June 2023 and for the six months ended 31 December 2023.

(b)[13]

Prepare appropriation accounts for the six months ended 30 June 2023 and for the six months ended 31 December 2023.

(c)[1]

Calculate the partnership’s profit margin for the six months ended 31 December 2023, giving your answer to two decimal places.

(d)[3]

Discuss whether Harry ought to compare the profit margin of the company with that of the partnership.

Worked solution & mark scheme

This 25-mark question has a full step-by-step worked solution and mark scheme.

  • Full mark scheme, point by point
  • Step-by-step worked solution
  • Write your answer & get it marked instantly by AI