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A-LevelAccountingPreparation of financial statements9706/12 · Oct/Nov 2023 · Q171 Mark

Which entries are made to record interest on capital in partnership accounts?

Adebit: appropriation account, credit: capital account
Bdebit: appropriation account, credit: current account
Cdebit: capital account, credit: appropriation account
Ddebit: current account, credit: appropriation account

✓ Correct answer

B: debit: appropriation account, credit: current account

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About this question

Topic
Preparation of financial statements, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source
A-Level Accounting, Oct/Nov 2023 Paper 1 Variant 2, question 17.

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