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WAEC Financial Accounting 2009 Question 46

Question 46

Partnership Accounts

Which of the following is debited to partner's current account?

  1. A.Capital
  2. B.Interest on capital
  3. C.Drawings
  4. D.Share of profit
Show the answer and explanation

Answer: C (Drawings)

Explanation

Drawings reduce what the partner is owed, so they are debited; interest on capital and share of profit are credited.