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    Accounting Study Set 1
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    Exam 15: Partnerships: Formation,operation and Reporting
  5. Question
    In Closing the Books of a Partnership the Balance of the Profit
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In Closing the Books of a Partnership the Balance of the Profit

Question 20

Question 20

Short Answer

In closing the books of a partnership the balance of the Profit and Loss Summary account is transferred to the profit d_______________ account.

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