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Which of the following is found on the credit side of a partnership's appropriation of...

Accounts - Principles of Accounts
WAEC 2015

Which of the following is found on the credit side of a partnership's appropriation of profit account?

  • A. Interest on capital
  • B. Interest on drawings
  • C. Share of profit
  • D. Drawings
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Correct Answer: Option B
Explanation

Interest on drawings is an expense to the partner, and hence it is credited to the profit and loss appropriation account


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