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

By: |Published on: Mar 19|Categories: Accounting WAEC| 0 comments

A. Interest on capital
B. Interest on drawings
C. Share of profit
D. Drawings

Correct Answer: Option B

B. Interest on drawings

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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