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:
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When goodwill is not retained in the business, the entries in the new partners' book will be to ...