Post Utme Pan Atlantic University 2020 Accounting Question 2

Practice objective / multiple choice question 2 from the 2020 Post Utme Pan Atlantic University Accounting examination.

Post Utme Pan Atlantic University 2020 Accounting Objective / Multiple Choice
Question 2 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2020 • ACCOUNTING • objective

What is the correct journal entry for the following transaction: A partner withdraws ₦10,000 cash from the partnership?

Answer Options

Correct Answer A. Partner's Capital a/c Dr. ₦10,000, Cash a/c Cr. ₦10,000
B. Partner's Capital a/c Cr. ₦10,000, Cash a/c Dr. ₦10,000
C. Cash a/c Dr. ₦10,000, Partner's Capital a/c Cr. ₦10,000
D. Partner's Capital a/c Dr. ₦10,000, Cash a/c Dr. ₦10,000
Correct Answer
A
Correct Option:
Partner's Capital a/c Dr. ₦10,000, Cash a/c Cr. ₦10,000

About This Question

This is Post Utme Pan Atlantic University 2020 Accounting Question 2. It is one of the objective questions from the 2020 Post Utme Pan Atlantic University Accounting examination.

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