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The Partnership Is Having Some Cash Difficulties and Anna Agrees

Question 2

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The partnership is having some cash difficulties and Anna agrees to leave the balance of what she is owed on loan to the partnership for 2 years. What is the double entry that is required to close off Anna's accounts in the partnership?
Thomas, Anna and Barry are in partnership together sharing profits and losses equally. Anna decides to leave on the 31 December 20X0. The balances on the partnership capital accounts, current accounts
And loan accounts with the partners at this date are as follows:
The partnership is having some cash difficulties and Anna agrees to leave the balance of what she is owed on loan to the partnership for 2 years. What is the double entry that is required to close off Anna's accounts in the partnership? Thomas, Anna and Barry are in partnership together sharing profits and losses equally. Anna decides to leave on the 31 December 20X0. The balances on the partnership capital accounts, current accounts And loan accounts with the partners at this date are as follows:    A)    B)    C)    D)


A) The partnership is having some cash difficulties and Anna agrees to leave the balance of what she is owed on loan to the partnership for 2 years. What is the double entry that is required to close off Anna's accounts in the partnership? Thomas, Anna and Barry are in partnership together sharing profits and losses equally. Anna decides to leave on the 31 December 20X0. The balances on the partnership capital accounts, current accounts And loan accounts with the partners at this date are as follows:    A)    B)    C)    D)
B)
The partnership is having some cash difficulties and Anna agrees to leave the balance of what she is owed on loan to the partnership for 2 years. What is the double entry that is required to close off Anna's accounts in the partnership? Thomas, Anna and Barry are in partnership together sharing profits and losses equally. Anna decides to leave on the 31 December 20X0. The balances on the partnership capital accounts, current accounts And loan accounts with the partners at this date are as follows:    A)    B)    C)    D)
C) The partnership is having some cash difficulties and Anna agrees to leave the balance of what she is owed on loan to the partnership for 2 years. What is the double entry that is required to close off Anna's accounts in the partnership? Thomas, Anna and Barry are in partnership together sharing profits and losses equally. Anna decides to leave on the 31 December 20X0. The balances on the partnership capital accounts, current accounts And loan accounts with the partners at this date are as follows:    A)    B)    C)    D)
D) The partnership is having some cash difficulties and Anna agrees to leave the balance of what she is owed on loan to the partnership for 2 years. What is the double entry that is required to close off Anna's accounts in the partnership? Thomas, Anna and Barry are in partnership together sharing profits and losses equally. Anna decides to leave on the 31 December 20X0. The balances on the partnership capital accounts, current accounts And loan accounts with the partners at this date are as follows:    A)    B)    C)    D)

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