Post Utme Ims U 2025 Accounting Question 8

Practice objective / multiple choice question 8 from the 2025 Post Utme Ims U Accounting examination.

Post Utme Ims U 2025 Accounting Objective / Multiple Choice
Question 8 POST_UTME_IMS_U • 2025 • ACCOUNTING • objective

A partnership consists of two partners, A and B. Partner A has a 60% interest in the partnership and partner B has a 40% interest. The partnership's trial balance shows a debit balance in the Cash account of ₦100,000. What is the correct journal entry to record the distribution of the debit balance between the partners?

Answer Options

Correct Answer A. Debit Partner A's Capital ₦60,000, Debit Partner B's Capital ₦40,000
B. Debit Partner A's Capital ₦40,000, Debit Partner B's Capital ₦60,000
C. Debit Partner A's Capital ₦80,000, Debit Partner B's Capital ₦20,000
D. Debit Partner A's Capital ₦20,000, Debit Partner B's Capital ₦80,000
Correct Answer
A
Correct Option:
Debit Partner A's Capital ₦60,000, Debit Partner B's Capital ₦40,000

About This Question

This is Post Utme Ims U 2025 Accounting Question 8. It is one of the objective questions from the 2025 Post Utme Ims U Accounting examination.

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