Day: May 8, 2022

Lucy and Michelle are in partnership.

Which item should appear in the partnership appropriation account?

Select ONE answer:

1. additional capital contributed by Michelle
2. cash drawings of Lucy and Michelle during the year
3. salary due to Lucy
4. salary paid to Michelle’s sister

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

1. Not correct
2. Not correct
3. Correct
4. Not correct

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