Post Utme Achievers University 2018 Accounting Question 36

Practice objective / multiple choice question 36 from the 2018 Post Utme Achievers University Accounting examination.

Post Utme Achievers University 2018 Accounting Objective / Multiple Choice
Question 36 POST_UTME_ACHIEVERS_UNIVERSITY • 2018 • ACCOUNTING • objective

In a partnership account, the capital of each partner is initially recorded in the capital account. However, when a partner withdraws cash from the business, the amount withdrawn is recorded as a drawing. What is the correct journal entry to record the withdrawal of cash by a partner?

Answer Options

A. Debit Partner's Capital, Credit Cash
B. Debit Cash, Credit Partner's Capital
C. Debit Partner's Capital, Credit Partner's Drawing
Correct Answer D. Debit Partner's Drawing, Credit Cash
Correct Answer
D
Correct Option:
Debit Partner's Drawing, Credit Cash

About This Question

This is Post Utme Achievers University 2018 Accounting Question 36. It is one of the objective questions from the 2018 Post Utme Achievers University Accounting examination.

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