A Level Accounting (9706)•9706/12/M/J/20
Explanation
Insufficient data to calculate total drawings Steps:
- Note opening current account balances: L 6,200 Dr.
- Add interest on capital credits: L +15,000.
- Subtract interest on drawings debits: L -2,000.
- Drawings reduce balances further; profit/loss share (3:2 ratio) also affects ending balances.
- Ending balances and profit/loss for the year not provided, so cannot solve for drawings_L + drawings_M.
Not enough information.
Final answer: Not enough information.
Topic: Preparation of financial statements
Practice more A Level Accounting (9706) questions on mMCQ.me