Post Utme Futo 2021 Accounting Question 11

Practice objective / multiple choice question 11 from the 2021 Post Utme Futo Accounting examination.

Post Utme Futo 2021 Accounting Objective / Multiple Choice
Question 11 POST_UTME_FUTO • 2021 • ACCOUNTING • objective

In a partnership account, the capital of a partner is increased by the amount of drawings made by the partner. Which of the following is the correct journal entry to record this transaction?

Answer Options

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

About This Question

This is Post Utme Futo 2021 Accounting Question 11. It is one of the objective questions from the 2021 Post Utme Futo Accounting examination.

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