NABTEB Accounting 2024 Theory — Question 15
Question 15 of 17 from the National Business and Technical Examinations Board (NABTEB) Accounting 2024 Theory paper, with the correct answer and a full explanation.
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Question 7(b). Prepare the Partners' Capital Account (Taiwo, Kehinde and Alaba) in columnar form.
Model answer
Capital Account (columnar), balances brought down after incorporating assets taken over, bank introduced and revaluation profit share, gives closing balances c/d of Taiwo 6,996,996.25, Kehinde 11,867,493.75 and Alaba 6,505,747.5, which agree on both sides of each partner's column.
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