Post Utme Redeemers University 2022 Accounting Question 6

Practice objective / multiple choice question 6 from the 2022 Post Utme Redeemers University Accounting examination.

Post Utme Redeemers University 2022 Accounting Objective / Multiple Choice
Question 6 POST_UTME_REDEEMERS_UNIVERSITY • 2022 • 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 for 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. Debit Cash, Credit Partner's Capital
Correct Answer
B
Correct Option:
Debit Partner's Drawings, Credit Partner's Capital

About This Question

This is Post Utme Redeemers University 2022 Accounting Question 6. It is one of the objective questions from the 2022 Post Utme Redeemers University Accounting examination.

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