Partnership Formation and Capital Accounts · CSEC Principles of Accounts

13 past-paper questions on Partnership Formation and Capital Accounts, part of Section 8: Accounting for Partnerships, from every CSEC Principles of Accounts paper on Quelpr.

1. 1(c)1 mark· CSEC Principles of Accounts · January 2009 · Paper 2State ONE disadvantage of being a general partner in a partnership.
2. 2(a)3 marks· CSEC Principles of Accounts · January 2012 · Paper 2Identify THREE items from the provided list that would be found in Partner A and Partner B's partnership agreement.
3. 1(a)7 marks· CSEC Principles of Accounts · January 2017 · Paper 2Prepare the journal entry to record the formation of the partnership of Chris and Vern.
4. 2(a)(iv)1 mark· CSEC Principles of Accounts · May/June 2010 · Paper 2State ONE possible reason why Angel and Karissa earn different salaries.
5. 2(c)2 marks· CSEC Principles of Accounts · May/June 2010 · Paper 2Calculate the capital invested by EACH partner, showing workings.
6. 7(b)(ii)1 mark· CSEC Principles of Accounts · May/June 2010 · Paper 2Identify the type of business organisation described: Three brothers operating a business where the action of one brother is binding on the other two brothers.
7. 2(a)3 marks· CSEC Principles of Accounts · May/June 2011 · Paper 2Prepare the journal entry to record the admission of Telford into the partnership.
8. 4(a)(i)7 marks· CSEC Principles of Accounts · May/June 2012 · Paper 2Prepare individual opening entries as at 1 May 2012 to record each sole trader's contribution to the partnership.
9. 4(c)2 marks· CSEC Principles of Accounts · May/June 2012 · Paper 2List TWO features, other than the profit sharing ratio, that should be included in P and G's partnership agreement.
10. 1(a)1 mark· CSEC Principles of Accounts · May/June 2014 · Paper 2State the amount of capital contributed by Thirst.
11. 2(a)2 marks· CSEC Principles of Accounts · May/June 2015 · Paper 2State TWO distinguishing features of a partnership.
12. 1(a)2 marks· CSEC Principles of Accounts · May/June 2016 · Paper 2State TWO other features, apart from the profit/loss sharing ratio, that may be included in a partnership agreement.
13. 1(b)1 mark· CSEC Principles of Accounts · May/June 2016 · Paper 2State the rate to be used to share net profit or loss when the partnership agreement is silent.