Accounting 9706 · AS & A Level · Preparation of financial statements

Preparation of financial statements — practice question

Which of the following would be entered as a debit in the appropriation account of a partnership? 1 interest charged on partners’ drawings 2 interest on the partner’s loan 3 partners’ salaries 4 the partners’ share of goodwill written off

  • A1 and 3
  • B2 and 3
  • C2 and 4
  • D3 only

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