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When partners maintain fixed capital accounts, the correct entries for a partner's share of profit...

Accounts - Principles of Accounts
WAEC 2004

When partners maintain fixed capital accounts, the correct entries for a partner's share of profit is

  • A. debit profit and loss appropristion account, credit current Account
  • B. Debit profit and loss appropriation account, credit capital account
  • C. debit current account, credit caapital account
  • D. debit profit and loss account, credit current account
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Correct Answer: Option A
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