Accounting 0452 · IGCSE · Partnerships

Partnerships — practice question

Abi and Erni operate a partnership. Erni is entitled to receive an annual partnership salary of $3000$. The remaining profits and losses are divided equally. The profit for the year ending 31 August 2022 was $12\,600$. On 1 September 2021, the partners’ current account balances were as follows: Abi $2500$ credit; Erni $1400$ debit. What was the credit balance on Erni’s current account on 1 September 2022?

  • A$400$
  • B$3200$
  • C$6400$
  • D$9200$

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