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Class 12 Accountancy Partnership Accounts - Basic Concepts AdjustmentsMedium

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If A paid firms electricity expense of Rs 9000 from personal bank and this adjustment was omitted what is the correct correction in As account?

Answer and explanation

Correct answer: Credit Rs 9000 to As account

A paid a firm expense from personal funds so the firm owes him that amount. In such adjustment credit the partners account.

Related tags

Expense Paid By Partner Omitted Adjustment Credit Adjustments Partnership Accounts Basic Concepts Accountancy Class 12 Mcq

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