Which of the following is mostly used in treating partner...
Which of the following is mostly used in treating partner's current earnings?
Savings account
Current account
Capital account
Share capital account
Correct answer is B
Current account of partners is also a type of Capital Account. So if there is a debit balance in Current Account, it means a loan give to the Partner by the Firm.
Adama's bank account showed an overdraft of N600 on 31st march. On going through the account, it...
In a not-for-profit making organization, the Receipts and Payments Accounts is the equivalent of ...
Which of the following is a Revenue Income? ...
The distinguishing feature between a two-column cash book is ...
Where partners maintain a fluctuating capital account, partners' share of profit is credited to ...
Net profit of a sole proprietor is transferred to the ...
The need for changes in accounting theory in Nigeria was influenced by the ...