Post Utme Ksu 2023 Accounting Question 7

Practice objective / multiple choice question 7 from the 2023 Post Utme Ksu Accounting examination.

Post Utme Ksu 2023 Accounting Objective / Multiple Choice
Question 7 POST_UTME_KSU • 2023 • ACCOUNTING • objective

A partnership has two partners, A and B. The capital accounts of A and B are ₦ 50,000 and ₦ 30,000 respectively. The profit-sharing ratio is 3:2. Prepare the profit-sharing ratio account.

Answer Options

Correct Answer A. Debit A's Capital ₦ 15,000, Credit B's Capital ₦ 10,000
B. Debit A's Capital ₦ 10,000, Credit B's Capital ₦ 15,000
C. Debit A's Capital ₦ 20,000, Credit B's Capital ₦ 12,000
D. Debit A's Capital ₦ 12,000, Credit B's Capital ₦ 20,000
Correct Answer
A
Correct Option:
Debit A's Capital ₦ 15,000, Credit B's Capital ₦ 10,000

About This Question

This is Post Utme Ksu 2023 Accounting Question 7. It is one of the objective questions from the 2023 Post Utme Ksu Accounting examination.

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