O-LevelAccountingAccounting procedures7707/13 · Oct/Nov 2022 · Q211 Mark

Anne and Paul are in partnership. How would interest on Anne's capital be recorded in the ledger accounts of the partnership?

Acredited to Anne's capital account

Bdebited to Anne's capital account

Ccredited to Anne's current account

Ddebited to Anne's current account

✓ Correct answer

C: credited to Anne's current account

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2022 Paper 1 Variant 3, question 21.

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