passwella.
Menu

JAMB Principles of Accounts 1999 Question 33

Question 33

Partnership Accounts

When a partner makes a drawing of stock items from a partnership, the acounting impact of the drawing is to increase the partner's

  1. A.goodwill account balance
  2. B.current account credit balance
  3. C.current account debit balance
  4. D.profit and loss credit balance.
Show the answer and explanation

Answer: C (current account debit balance)

Explanation

Drawings are debited to the partner's current account, increasing its debit side.