Post Utme Futa 2017 Accounting Question 7

Practice objective / multiple choice question 7 from the 2017 Post Utme Futa Accounting examination.

Post Utme Futa 2017 Accounting Objective / Multiple Choice
Question 7 POST_UTME_FUTA • 2017 • ACCOUNTING • objective

A partnership of three partners has a capital balance of £ 100,000. The partners' capital accounts are as follows: A £ 30,000, B £ 40,000, C £ 30,000. The profit-sharing ratio is 2:3:1. Prepare the partnership balance sheet.

Answer Options

Correct Answer A. A£ 30,000, B£ 40,000, C£ 30,000, Total Capital £ 100,000
B. A£ 60,000, B£ 80,000, C£ 40,000, Total Capital £ 180,000
C. A£ 40,000, B£ 60,000, C£ 40,000, Total Capital £ 140,000
D. A£ 60,000, B£ 80,000, C£ 40,000, Total Capital £ 180,000
Correct Answer
A
Correct Option:
A£ 30,000, B£ 40,000, C£ 30,000, Total Capital £ 100,000

About This Question

This is Post Utme Futa 2017 Accounting Question 7. It is one of the objective questions from the 2017 Post Utme Futa Accounting examination.

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