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  3. 12th Class
  4. Accountancy
  5. Fundamentals of Partnership

12th Class Accountancy Fundamentals of Partnership Question Bank MCQs - Accounting for Partnership Firm : Fundamental

  • question_answer
    Pass the journal entry to record salary of partner:

    A) Profit and Loss Appropriation A/c Dr.           To Partner’s Capital A/c

    B) Profit and Loss A/c                       Dr.           To Salary A/c

    C) Partner’s Capital A/c                     Dr.           To Salary A/c

    D) Salary A/c                                    Dr.            To Profit and Loss Appropriation A/c

    Correct Answer: A

    Solution :

    [a] Profit and Loss Appropriation A/c        Dr.                    To Partner’s Capital A/c


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