Accounting 9706 · AS & A Level · The accounting system

The accounting system — practice question

A partnership made an average monthly profit of $15000$ over the year. At the midpoint of the year, D and E took on a new partner F, and profits were divided equally both before and after this change. In the first half of the year, D introduced his private vehicle into the partnership at a valuation of $12000$. D’s drawings totalled $60000$ for the year. By what amount did D’s current account balance increase over the year?

  • A$15000$
  • B$30000$
  • C$75000$
  • D$87000$

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