Name the accounts which are maintained for the partners when capitals of the partners are fixed. (AI 2014 C) Post category:Accountancy Reading time:1 mins read SOLUTION (a) Partners’ Capital Accounts;(b) Partners’ Current Accounts. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostRitesh and Hitesh are childhood friends, Ritesh is a consultant whereas Hitesh is an architect. They contributed equal amounts and purchased a building for Rs. 2 crores. After a year, they sold it for Rs. 3 crores and shared the profits equally. Are they doing the business in partnership? Give reason in support of your answer. (Delhi and AI 2018) Next PostWhat is meant by ‘Fixed Capital’ of a partner? (Delhi 2016 C) You Might Also Like Why is it that the Capital Account of a partner does not show a “Debit Balance’’ inspite of regular and consistent losses year after year? September 26, 2022 Classify debentures from the point of view of convertibility. September 29, 2022 From the following information, calculate Interest Coverage Ratio: August 13, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Why is it that the Capital Account of a partner does not show a “Debit Balance’’ inspite of regular and consistent losses year after year? September 26, 2022