JAMB Accounting Past Questions & Answers - Page 192

When assets are realized during a partnership dissolution, the entries for the proceeds are to debit?

Jide and Haruna contribute N12000 each as capital and share profit equally. Jide draws N1500 and Haruna N1700 half-yearly. The profit for the year is N10000. Jide receives a salary of N2000.

The balances of current accounts of Jide and Haruna are respectively?

Jide and Haruna contribute N12000 each as capital and share profit equally. Jide draws N1500 and Haruna N1700 half-yearly. The profit for the year is N10000. Jide receives a salary of N2000.

Calculate the profit available for appreciation?

Profit or loss in a partnership is usually arrived at after deducting from gross profit all expenses including?

In reconciling the branch and head office accounts, remittance in transit in the branch books is treated as a?