Post Utme Coal City University 2018 Accounting Question 12

Practice objective / multiple choice question 12 from the 2018 Post Utme Coal City University Accounting examination.

Post Utme Coal City University 2018 Accounting Objective / Multiple Choice
Question 12 POST_UTME_COAL_CITY_UNIVERSITY • 2018 • ACCOUNTING • objective

A partnership is formed between two individuals, A and B, with a capital of ₦100,000 each. During the year, A withdraws ₦20,000 and B withdraws ₦15,000. Prepare the capital account for the partnership.

Answer Options

A. Capital Account: A: ₦100,000 - ₦20,000 = ₦80,000; B: ₦100,000 - ₦15,000 = ₦85,000
B. Capital Account: A: ₦100,000 - ₦15,000 = ₦85,000; B: ₦100,000 - ₦20,000 = ₦80,000
Correct Answer C. Capital Account: A: ₦100,000 - ₦20,000 = ₦80,000; B: ₦100,000 - ₦15,000 = ₦85,000
D. Capital Account: A: ₦100,000 - ₦15,000 = ₦85,000; B: ₦100,000 - ₦20,000 = ₦80,000
Correct Answer
C
Correct Option:
Capital Account: A: ₦100,000 - ₦20,000 = ₦80,000; B: ₦100,000 - ₦15,000 = ₦85,000

About This Question

This is Post Utme Coal City University 2018 Accounting Question 12. It is one of the objective questions from the 2018 Post Utme Coal City University Accounting examination.

View More Post Utme Coal City University 2018 Accounting Questions More Post Utme Coal City University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support