When the fixed capital method is used, the partners' ...
When the fixed capital method is used, the partners' share of profits and remunerations are credited to the
Current account
Profit and loss account
Profit and loss appropriation account
Capital account
Correct answer is D
The partnership capital account is an equity account in the accounting records of a partnership. It contains the following types of transactions:
The authority of the Accountant General to disburse from government fund is called ...
Discount received account is a ...
Reducing balance method charges depreciating as fixed percentage of the ...
The sales ledger contains accounts of ...
Suspense account is used in the correction of ...
The purchase of ten ceiling fans by Akpan Electronic Enterprises will be recorded as ...
Given: Drawings - #3,500 Net loss - #2,500 Capital 1/1/2007 - #35,000 Additional capital - #10...