When partners maintain fixed capital accounts, the correc...
When partners maintain fixed capital accounts, the correct entries for a partner's share of profit is
Debit profit and loss appropristion account, credit current account
Debit profit and loss appropriation account, credit capital account
Debit current account, credit caapital account
Debit profit and loss account, credit current account
Correct answer is A
No explanation has been provided for this answer.
The process of using sales ledger balance to cancel off purchases ledger balance is ...
The basis upon which assets of an organization is valued is the ...
The salary of a partner is usually debited to the? ...
A trading account is prepared to disclose the ...
Danladi Bako's Statement of Affairs as at 30/06/17 ₦ &...
Goods worth N800 was stolen. The double entries are debit, ...