Drawings made by a partner would be

Assessment: WAEC SSCE - Financial Accounting - 2022 (Objective) Subject: Financial Accounting

Question 1 Report

Drawings made by a partner would be
Answer Details
Drawings made by a partner would be debited to the partner's current account. A current account is a record of all transactions related to the partner's contribution to or withdrawals from the partnership. Drawings made by a partner are essentially withdrawals from the partnership, and therefore decrease the partner's capital balance in the partnership. To reflect this decrease, the partner's current account is debited (i.e., decreased) by the amount of the drawings. Option (d) is the correct answer: "debited to current account."

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