7 marksPartnership Financial Statements and Current Accounts

CSEC Principles of Accounts · May/June 2011 · Paper 2 · Question 2(b)

Prepare an extract of the Partnership Appropriation Account up to the share of remaining profit for the year ended December 31, 2010.

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Other parts of this question

2(a)Prepare the journal entry to record the admission of Telford into the partnership.[3 marks]
2(c)Complete the worksheet provided to arrive at the share of remaining income or profit earned by EACH partner.[3 marks]
2(d)Prepare the Current Accounts of the partners as at December 31, 2010.[7 marks]

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