Quelpr

Partnership Financial Statements and Current Accounts · CSEC Principles of Accounts

39 past-paper questions on Partnership Financial Statements and Current Accounts, part of Section 8: Accounting for Partnerships, from every CSEC Principles of Accounts paper on Quelpr.

Practise Partnership Financial Statements and Current Accounts
  1. 1(a)8 marks· CSEC Principles of Accounts · January 2009 · Paper 2Prepare the partnership Profit and Loss Appropriation Account for the year ended December 31, 2008.
  2. 1(b)10 marks· CSEC Principles of Accounts · January 2009 · Paper 2Prepare the Current Accounts for the partnership as at December 31, 2008.
  3. 1(d)1 mark· CSEC Principles of Accounts · January 2009 · Paper 2Calculate the amount of the net profit due to EACH partner based on the principles of the Partnership Act of 1890.
  4. 2(a)11 marks· CSEC Principles of Accounts · January 2011 · Paper 2Prepare the Appropriation Account for C. Wynn and T. Bain for the year ended December 31, 2010. (Show all working clearly)
  5. 2(b)7 marks· CSEC Principles of Accounts · January 2011 · Paper 2Using columnar style, prepare the Current Accounts for C. Wynn and T. Bain.
  6. 2(c)2 marks· CSEC Principles of Accounts · January 2011 · Paper 2Draw up a statement showing the net worth of EACH partner as at December 31, 2010.
  7. 2(c)8 marks· CSEC Principles of Accounts · January 2012 · Paper 2Prepare the Appropriation Account for the partnership for the period ended 31 December 2011.
  8. 2(d)1 mark· CSEC Principles of Accounts · January 2012 · Paper 2Calculate how much more cash, if any, Partner B can withdraw from the business without taking away from his capital, showing your working.
  9. 2(a)8 marks· CSEC Principles of Accounts · January 2013 · Paper 2Prepare the partnership Profit and Loss Appropriation Account for the year ended 31 December 2012.
  10. 2(b)10 marks· CSEC Principles of Accounts · January 2013 · Paper 2Prepare Current Accounts for the partnership as at 31 December 2012.
  11. 2(c)2 marks· CSEC Principles of Accounts · January 2013 · Paper 2Share the profit of the business between Threaker and Waitley as if there was no partnership agreement.
  12. 3(a)10 marks· CSEC Principles of Accounts · January 2014 · Paper 2Prepare the Profit and Loss Appropriation Account of Jack and Genny for the year ended 31 December 2013.
  13. 3(b)8 marks· CSEC Principles of Accounts · January 2014 · Paper 2Prepare the partners' Current Accounts on 31 December 2013.
  14. 3(c)2 marks· CSEC Principles of Accounts · January 2014 · Paper 2Calculate Jack's net worth at 31 December 2013.
  15. 2(a)8 marks· CSEC Principles of Accounts · January 2016 · Paper 2Prepare the Profit and Loss Appropriation Account for the partnership for the year ended 31 December 2015.
  16. 2(b)10 marks· CSEC Principles of Accounts · January 2016 · Paper 2Prepare the partners' Current Accounts in columnar style.
  17. 2(c)2 marks· CSEC Principles of Accounts · January 2016 · Paper 2Explain the significance of the balance on each partner's Current Account.
  18. 1(b)9 marks· CSEC Principles of Accounts · January 2017 · Paper 2Prepare the Profit and Loss Appropriation Account for the end of the first year for Chris and Vern.
  19. 1(c)4 marks· CSEC Principles of Accounts · January 2017 · Paper 2Prepare the columnar Current Account of Chris and Vern as at 28 February 2016.
  20. 2(c)6 marks· CSEC Principles of Accounts · January 2018 · Paper 2Draw up the Appropriation Account for the partnership of Parris and London for the year ended 31 December 2017.
  21. 2(a)(i)3 marks· CSEC Principles of Accounts · May/June 2010 · Paper 2Calculate and enter the interest on drawings to be charged to EACH partner in the Current Accounts.
  22. 2(a)(ii)2 marks· CSEC Principles of Accounts · May/June 2010 · Paper 2Balance the Current Accounts of the partners, showing workings.
  23. 2(a)(iii)2 marks· CSEC Principles of Accounts · May/June 2010 · Paper 2State the significance of BOTH balances brought down as at December 31, 2009.
  24. 2(b)10 marks· CSEC Principles of Accounts · May/June 2010 · Paper 2From the information in the Current Accounts, prepare the Appropriation of Profits Account for Angel and Karissa for the year ended December 31, 2009, showing clearly the net profit of the partnership.
  25. 2(b)7 marks· CSEC Principles of Accounts · May/June 2011 · Paper 2Prepare an extract of the Partnership Appropriation Account up to the share of remaining profit for the year ended December 31, 2010.
  26. 2(c)3 marks· CSEC Principles of Accounts · May/June 2011 · Paper 2Complete the worksheet provided to arrive at the share of remaining income or profit earned by EACH partner.
  27. 2(d)7 marks· CSEC Principles of Accounts · May/June 2011 · Paper 2Prepare the Current Accounts of the partners as at December 31, 2010.
  28. 4(b)(i)2 marks· CSEC Principles of Accounts · May/June 2012 · Paper 2Calculate each partner's share of profit in the capital sharing ratio, showing all working.
  29. 4(b)(ii)2 marks· CSEC Principles of Accounts · May/June 2012 · Paper 2Calculate each partner's share of profit in the ratio 3:7, showing all working.
  30. 1(b)12 marks· CSEC Principles of Accounts · May/June 2014 · Paper 2Prepare the Appropriation Account of the partnership for the six months ended 30 June 2013.
  31. 1(c)7 marks· CSEC Principles of Accounts · May/June 2014 · Paper 2Prepare columnar Current Accounts of the partners for the six months ended 30 June 2013.
  32. 2(b)2 marks· CSEC Principles of Accounts · May/June 2015 · Paper 2State the significance of the brought down balance on EACH partner's current account.
  33. 2(c)9 marks· CSEC Principles of Accounts · May/June 2015 · Paper 2Prepare the Profit and Loss Appropriation Account of Barney and Swiper for the year ended 31 March 2015.
  34. 2(d)7 marks· CSEC Principles of Accounts · May/June 2015 · Paper 2Prepare the partners' Current Accounts on 31 March 2015, after the appropriation.
  35. 1(c)9 marks· CSEC Principles of Accounts · May/June 2016 · Paper 2Prepare the Profit Appropriation Account for Metevier and Moreno for the year ended 31 December 2015.
  36. 1(d)(i)4 marks· CSEC Principles of Accounts · May/June 2016 · Paper 2Prepare the Statement of Financial Position (Balance Sheet) as at 31 December 2015 for Metevier and Moreno showing clearly the firm's working capital.
  37. 1(d)(ii)4 marks· CSEC Principles of Accounts · May/June 2016 · Paper 2Show clearly the details of each partner's earnings in the Capital section of the Statement of Financial Position.
  38. 4(a)12 marks· CSEC Principles of Accounts · May/June 2017 · Paper 2Prepare a classified Statement of Financial Position (Balance Sheet) in vertical style for House and Home Partners as at 31 December 2016.
  39. 4(b)8 marks· CSEC Principles of Accounts · May/June 2017 · Paper 2Prepare the partners' Current Accounts showing the changes in their balances over the year ended 31 December 2016.

Related topics in Section 8: Accounting for Partnerships