--%>
Assignment Help - homework help

Capital account

An account used in a partnership to record an individual partner's investment in the partnership plus the indi- vidual's share of any undistributed partnership income. In a corpo- ration, the equity sections have two parts: the contributed capital and retained earnings first works as the amount of shareholder investment, and the second works as the undisturbed income of the firm. In a partner- ship, the equity section have a capital account for each partner that combines that partner's investment  and share of undistributed income.

 

   Related Questions in Managerial Accounting

  • Q : Define Responsibility Center

    Responsibility Center: It is an organizational unit headed by the manager or a group of managers who are responsible for its actions. The responsibility centers can be measured as revenue centers (that is responsible for revenue or sa

    		•
  • Q : Key areas which business objectives

    Write a short note on the key areas which business objectives want to achieve?

    		•
  • Q : Changing business landscape What do you

    What do you mean by the term changing business landscape?

    		•
  • Q : Partnership from Accounting point of

    Describe the status of partnership from an accounting point of view? Answer: From an accounting point of view, partnership is a separate business entity. From legal

    		•
  • Q : What find out the size of this loss

    What find out the size of this loss? The size of the deadweight loss is based on the elasticity of supply and demand. As the elasticity of demand increases and the elasticity of supply decreases, that means as sup

    		•
  • Q : Factors due to changing business

    What are the various factors which occurred due to the changing business landscape?

    		•
  • Q : Describe fluctuating capital of partners

    Describe fluctuating capital of partners? Answer: Partner‘s capital is stated to be fluctuating if capital modifies with every transaction in the capital accou

    		•
  • Q : Describe Trust Accounting Trust

    Trust Accounting: It is the "accounting of each and every item of income and expenditures which are employed to find out the amount that certain beneficiaries will obtain from the trust each year." Actually, it is equivalent to all the revenues receiv

    		•
  • Q : Characteristics which accounting

    What are the key qualities or characteristics which accounting information should possess?

    		•
  • Q : Reasons for favoring partnership deed

    Give reasons in favor of having a partnership deed. Answer: A) In situation of any dispute or doubt, Partnership deed is the gui

    		•