When a partner makes a drawing of stock items from a part...
When a partner makes a drawing of stock items from a partnership, the accounting impact of the drawing is to increase the partner's?
Goodwill account balance
Current account credit balance
Current account debit balance
Profit and loss credit balance
Correct answer is C
No explanation has been provided for this answer.
Payment for future services are ...
Which of the following is not recorded in a partnership appropriation account? ...
An amount set aside out of profit for a specific purpose is a ...
The corresponding entry of personal accounts found in the debit side of the cashbook is to ...
Stock of finished goods: Jan 1st Dec 31st Stock of Raw materials: Jan 1st De...
\(\begin{array}{c|c} & ₦\\ \hline \text{Opening stock} & 40,000\\ \text{Purchases} & 1...
When a buyer is undercharged, the seller forwards ...
\(\begin{array}{c|c} & \text{N} \\ \hline \text{Debtors opening} & 4000 \\ \hline \text{De...
When a fixed asset is disposed off, the accounting entries to write off the asset are Debit ...