OxfordAQA IGCSE Accounting: Partnership statements and partner accounts (9215) – Practice Questions

These are original questions written for Marlbridge, for revision and practice on this content. They are not reproduced past-paper questions, and they do not replicate the exam’s exact structure, question count or mark tariffs – examination boards hold copyright in their own papers. Use these alongside the official past papers from your board or school.

These questions cover the partnerships part of section 3.4 of the OxfordAQA International GCSE Accounting (9215) specification, version 1.2, for exams from May/June 2026 onwards. All amounts are in dollars. Learn the method first from the study guide and the revision notes. Course home: OxfordAQA IGCSE Accounting. Printable checklist. Find weak spots with the free diagnostics.

Questions

1. State the purpose of a partnership appropriation account and name two items that may appear in it. [3]

2. Mira has capital of 45,000 and Jonas has capital of 30,000. The partnership agreement gives interest on capital at 4% per year. Calculate the interest on capital for each partner and the total. [3]

3. Mira’s drawings for the year were 14,000 and Jonas’s were 9,000. The agreement charges interest on drawings at 3% of each partner’s drawings.

(a) Calculate the interest on drawings for each partner. [2] (b) Explain why a partnership may charge interest on drawings. [2]

4. Jonas lent the partnership 12,000 at 7% per year.

(a) Calculate the interest for the year. [1] (b) State where this interest is shown and how it is treated. [2] (c) Explain one difference between this interest and interest on capital. [2]

5. Ari and Bea share profits and losses 3 : 2. The profit for the year is 41,500. Interest on capital is Ari 4,000 and Bea 2,500. Bea receives a salary of 15,000. Interest on drawings is Ari 360 and Bea 240. Prepare the appropriation account. [6]

6. Nia and Omar share profits and losses equally. The profit for the year is 7,200. Interest on capital is Nia 2,100 and Omar 1,500. Nia receives a salary of 6,000. Ignore interest on drawings. Prepare the appropriation account and state the total amount credited to each partner’s current account. [5]

7. Wen’s current account had a credit balance of 2,100 at the start of the year. During the year Wen was credited with interest on capital 1,500, a salary of 5,000 and a share of profit of 6,250. Wen’s drawings were 14,000 and interest on drawings was 280. Prepare Wen’s current account and show the balance carried down. [6]

8. Explain the difference between a partner’s capital account and current account, and why a partnership keeps both. [4]

9. Hana and Idris have the following figures for the year.

	Hana	Idris
Total credited for interest, salary and share of profit	12,300	13,350
Drawings	8,000	21,000
Current account at the start of the year	nil	6,000 credit
Current account at the end of the year	4,300 credit	1,650 debit

Comment on Idris’s position and recommend one action. [4]

10. Hollinbeck Tile Merchants is owned by Kofi and Lina. Revenue was 168,000. Opening inventory was 14,200, purchases 91,500 and closing inventory 15,900. Expenses were wages 27,300, rent 9,000, insurance 3,100 and depreciation 4,800. Kofi lent the firm 6,000 at 8% per year. Interest on capital is 6%: Kofi’s capital is 50,000 and Lina’s is 30,000. Lina has a salary of 10,000. Interest on drawings is Kofi 250 and Lina 150. Profits and losses are shared 5 : 3.

(a) Prepare the income statement for the year. [6] (b) Prepare the appropriation account. [4]

11. Dunsmuir Pots is owned by Mayu and Noor. The profit for the year was 33,700. Capital accounts: Mayu 55,000, Noor 35,000. Interest on capital is 6%. Noor has a salary of 9,600. Interest on drawings is 2% of drawings: Mayu drew 13,000 and Noor drew 12,000. Profits and losses are shared 2 : 1. At the start of the year Mayu’s current account had a credit balance of 800 and Noor’s had a debit balance of 250.

(a) Prepare the appropriation account. [5] (b) Prepare the partners’ current accounts. [5] (c) Show the equity section of the statement of financial position. [2]

Answers

1. It shows how the profit for the year is shared between the partners [1]. Any two of: interest on capital [1]; salaries [1]; interest on drawings; share of residual profit. [3] Examiner insight: A “name two items” prompt tends to gain credit when the items are specific appropriation items. Naming “wages” or “loan interest” describes the income statement, not the appropriation account.

2. Mira: 45,000 x 4% = 1,800 [1]. Jonas: 30,000 x 4% = 1,200 [1]. Total 3,000 [1]. [3] Examiner insight: Show each multiplication. A total on its own gives the reader no way to see whether the individual interest figures were right.

3. (a) Mira: 14,000 x 3% = 420 [1]. Jonas: 9,000 x 3% = 270 [1]. [2] (b) It discourages partners from taking out large amounts of cash [1], because cash taken out cannot be used by the business and the charge compensates the firm [1]. [2] Examiner insight: For an “explain” question, add a reason to the statement. Saying only that it “reduces drawings” is a statement with no explanation of why that matters.

4. (a) 12,000 x 7% = 840 [1]. [1] (b) It is shown in the income statement [1] as an expense that reduces the profit for the year, not as an appropriation of profit [1]. [2] (c) Loan interest is a fixed cost paid whether or not there is profit [1]; interest on capital is an appropriation of profit, not an expense, so it does not reduce the profit for the year [1]. [2] Examiner insight: A comparison needs both sides. Writing only what loan interest is leaves the contrast with interest on capital unstated.

5.

Profit for the year                               41,500   [1]
Interest on drawings (360 + 240)                     600   [1]
                                                  42,100
Interest on capital: Ari 4,000, Bea 2,500   6,500         [1]
Salary: Bea                                15,000         [1]
                                                  21,500
Residual profit                                   20,600   [1]
Shared: Ari 3/5 12,360, Bea 2/5 8,240             20,600   [1]

[6] Examiner insight: Label each line and show partner names. Labelled lines make your working easy to follow.

6. Interest on capital 3,600 plus salary 6,000 gives 9,600 taken before the ratio [1]. Profit of 7,200 less 9,600 gives a deficit of 2,400 [1]. Shared equally, each partner bears 1,200 [1]. Nia is credited with 2,100 + 6,000 - 1,200 = 6,900 [1]. Omar is credited with 1,500 - 1,200 = 300 [1]. [5] Examiner insight: A deficit is not ignored. State that it is shared in the ratio and shown as a deduction, otherwise it reads as if the partners received no allocation.

7.

Wen's current account
Debit                             Credit
Drawings              14,000 [1]  Balance b/d          2,100 [1]
Interest on drawings     280 [1]  Interest on capital  1,500 [1]
Balance c/d              570 [1]  Salary               5,000
                      14,850      Share of profit      6,250 [1]
                                                      14,850

The interest on capital and salary lines earn one mark together. [6] Examiner insight: A balancing figure is checked by totalling both sides. If your two totals differ, look for a missing opening balance.

8. The capital account records the partner’s long-term investment in the firm [1], which changes only by agreement [1]. The current account records the yearly entries for interest, salary, profit share, drawings and interest on drawings [1]. Keeping them apart means the capital figure used for interest on capital stays fixed and the current account shows whether a partner has taken out more than earned [1]. [4] Examiner insight: Two accounts need two clearly different purposes. Writing that “one is for capital and one is for current” repeats the names without explaining anything.

9. Idris drew 21,000 against 13,350 credited, so drawings exceed entitlement by 7,650 [1]. This used up the 6,000 credit balance and left a debit balance of 1,650 [1], so the firm is in effect lending Idris money [1]. Recommend setting a drawings limit or agreeing a higher interest rate on drawings [1]. [4] Examiner insight: Comments gain credit when they use figures from the question. Write the 7,650 or the 1,650, not only “Idris takes too much”.

10. (a)

Revenue                                           168,000
Opening inventory           14,200
Purchases                   91,500
                           105,700
Less closing inventory      15,900
Cost of sales                                      89,800   [1]
Gross profit                                       78,200   [1]
Wages 27,300; rent 9,000; insurance 3,100;
depreciation 4,800                      44,200
Interest on partner's loan (6,000 x 8%)    480    [1]
Total expenses                                     44,680   [1]
Profit for the year                                33,520   [1]

Opening inventory is added and closing inventory deducted in the cost of sales [1]. [6] (b)

Profit for the year                         33,520
Interest on drawings (250 + 150)               400   [1]
                                            33,920
Less interest on capital 4,800, salary 10,000  14,800  [1]
Residual profit                             19,120
Kofi 5/8                                    11,950   [1]
Lina 3/8                                     7,170   [1]

[4] Examiner insight: Place the loan interest in the income statement. Candidates who put it in the appropriation account finish with a profit for the year that is too high.

11. (a)

Profit for the year                          33,700
Interest on drawings (260 + 240)                500    [1]
                                             34,200
Interest on capital: Mayu 3,300, Noor 2,100   5,400   [1]
Salary: Noor                                  9,600   [1]
                                             15,000
Residual profit                              19,200    [1]
Mayu 2/3 12,800; Noor 1/3 6,400              19,200    [1]

[5] (b)

	Mayu	Noor
Debit side: balance b/d	-	250
Drawings	13,000	12,000
Interest on drawings	260	240
Balance c/d	3,640	5,610
Total, debit side	16,900	18,100
Credit side: balance b/d	800	-
Interest on capital	3,300	2,100
Salary	-	9,600
Share of residual	12,800	6,400
Total, credit side	16,900	18,100

Mayu: debit entries correct [1]; credit entries correct and both sides 16,900 [1]. Noor: debit entries including the opening debit of 250 [1]; credit entries totalling 18,100 [1]. Closing balances Mayu 3,640 credit and Noor 5,610 credit [1]. [5] (c) Capital accounts 90,000 (Mayu 55,000, Noor 35,000) [1]. Current accounts 9,250 (Mayu 3,640, Noor 5,610); total equity 99,250 [1]. [2] Examiner insight: In a long question, build one figure at a time and carry it forward. Marks are easier to earn when each part is clearly labelled, and part (c) depends on both earlier parts.

Where marks are usually lost

• Putting a partner’s loan interest in the appropriation account, not in the income statement.
• Subtracting interest on drawings from profit instead of adding it back.
• Sharing the profit for the year in the ratio, ignoring interest on capital and salaries.
• Not crediting interest and salaries when profit is low or there is a loss.
• Leaving out the opening balance on a current account.
• Treating a debit balance as if it were a credit balance in equity.
• Calculating interest on capital on a figure other than the capital stated in the question.
• Writing comments that name no figure from the question.
• Treating a salary as a business expense in the income statement.

Next steps

• Revisit the method in the revision notes and the study guide.
• Course home: OxfordAQA IGCSE Accounting and the printable checklist.
• Take the free diagnostics to find your next weak topic.
• Book a free trial class.

Frequently asked questions

Where do students usually lose marks on partnership questions in OxfordAQA 9215? Common losses are putting a partner’s loan interest in the appropriation account, subtracting interest on drawings instead of adding it back, and sharing the profit for the year in the ratio while ignoring interest on capital and salaries.

What should I do when profit is too low to cover interest on capital and salaries? Still credit the interest and salaries in full; the shortfall is a deficit shared in the profit-sharing ratio. Leaving the interest and salaries out in a low-profit or loss year loses marks.

How should I set out an appropriation account? Label each line and show each partner’s figures separately, so your working is easy to follow. Start from the profit for the year and finish with each partner’s share of the residual.

What mistakes are common with partners’ current accounts? Leaving out the opening balance, and treating a debit balance as if it were a credit balance in the equity section.

Official syllabus

OxfordAQA International GCSE Accounting (9215), specification version 1.2, first teaching 2024, first examined 2026 (OxfordAQA). Subject content section 3.4, Partnerships.