Accounting 9706 · AS & A Level · The accounting system

The accounting system — practice question

Which items are recorded only on the credit side of a partner’s capital account? 1 goodwill shared in the agreed ratio 2 opening balance figures 3 gain from revaluation of assets 4 amounts transferred from current accounts

  • A1 and 2
  • B1 and 3
  • C2 and 3
  • D2 and 4

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