Balance Calculation – NBC Institute

FA – May 2014 – L1 – SA – Q19 – Partnership Account

Determines the correct balance for a partner's current account after adjustments.

Question

What is the correct balance carried forward in the current account of the partners as recorded by the inexperienced bookkeeper?
A. A debit balance of ₦3,060
B. A debit balance of ₦13,060
C. A credit balance of ₦13,060
D. A debit balance of ₦14,140
E. A credit balance of ₦14,140

Answer

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Tags: Balance Calculation, Bookkeeping, Current Account, Partnership
Level: Level 1

Topic: Partnership Accounts (Including Profit Sharing, Capital and Current Accounts)
Series: MAY 2014

Question Tag: Balance Calculation

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FA – May 2014 – L1 – SA – Q19 – Partnership Account

Determines the correct balance for a partner's current account after adjustments.

FA – May 2014 – L1 – SA – Q19 – Partnership Account

Determines the correct balance for a partner's current account after adjustments.

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Question Tag: Balance Calculation

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FA – May 2014 – L1 – SA – Q19 – Partnership Account

Determines the correct balance for a partner's current account after adjustments.

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FA – May 2014 – L1 – SA – Q19 – Partnership Account

Determines the correct balance for a partner's current account after adjustments.

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