Post Utme Lasu 2021 Accounting Question 27
Practice objective / multiple choice question 27 from the 2021 Post Utme Lasu Accounting examination.
A partnership has two partners, A and B. The capital accounts of A and B at the beginning of the year were ₦50,000 and ₦30,000 respectively. During the year, A withdrew ₦10,000 and B invested ₦5,000. The profit for the year was ₦20,000. Prepare the statement of profit or loss and the statement of changes in equity for the year.
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About This Question
This is Post Utme Lasu 2021 Accounting Question 27. It is one of the objective questions from the 2021 Post Utme Lasu Accounting examination.
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