QUESTION 3 A. State the significance of the brought down balance on EACH partner's current account. Barney and Swiper are in partnership Their Current Account balances as at 31 March 2015 before appropriation were: a. Current Accounts Barney Swiper 2 500 (600) State the signıficance of the brought down balance on EACH partner s current account.

QUESTION 3 A. State the significance of the brought down balance on EACH partner's current account. Barney and Swiper are in partnership Their Current Account balances as at 31 March 2015 before appropriation were: a. Current Accounts Barney Swiper 2 500 (600) State the signıficance of the brought down balance on EACH partner s current account.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Requirement: Prepare statement of income, with a schedule showing distribution of profits
34) The closing balances of partners' current account will be: a. X RO 59784 (Dr), Y RO 17825 (Cr), Z RO 37622 (Dr) b. X RO 58748 (Dr), Y RO 16852 (Cr), Z RO 36620 (Dr) c. X RO 58784 (Dr), Y RO 16825 (Cr), Z RO 36622 (Dr) d. X RO 58984 (Dr), Y RO 16925 (Dr), Z RO 36626 (Dr)
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