--%>
Assignment Help - homework help

Capital account on credit and debit side

List the items that might appear on the debit side and credit side of a partner's fluctuating capital account.

Answer: On debit side: Drawing, interest on drawing, closing credit balance of the capital and share of loss.

On credit side: Opening credit balance of capital, added capital introduced, share of gain, interest on capital, salary to a Partner, and commission to Partner.

   Related Questions in Managerial Accounting

  • Q : Calls in Arrears What are the various

    What are the various Calls in Arrears? Describe it.

    		•
  • Q : Cash flows from operating activities

    The first section of the statement of cash-flow. Cash flows from operating activities include transactions (involving cash) that relate to the normal busi- ness activities of the entity. Cash-flows in this section usually involve cash and other current asset or curren

    		•
  • Q : Cash shortage/overage An income

    An income statement item that represents the difference between the actual cash amount and an accounting measure of how much cash there should be. The most common example exists in a retail situation where the cash in the cash register is compared to the register tape

    		•
  • Q : Information that a manager need to make

    What is the various information that a manager need to make a decision?

    		•
  • Q : Define Cost Object Cost Object (also

    Cost Object (also referred to as Cost Objective): It is an activity, item, or output whose cost is to be computed. In a wide sense, a cost object can be an organizational division, task, a function, product, service, or a customer.

    		•
  • Q : Main working areas of the Routing and

    Write a short note on the main working areas of the Routing and personnel department?

    		•
  • Q : Accumulated adjustments account Normal

    Normal 0

  • Q : Relevance-accounting information What

    What do you mean by the term relevance which is accounting information?

    		•
  • 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 : Planned product cost and the actual cost

    A company has production facilities in several countries. Some of the products they sell are produced in stages (Raw Materials -> Pre-Assembly -> Assembly -> Finished Product) based on the technologies and materials involved (see Table 1).

    Discover Q & A

    Leading Solution Library
    Avail More Than 1434773 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads
    No hassle, Instant Access
    Start Discovering

    18,76,764

    1938240
    Asked

    3,689

    Active Tutors

    1434773

    Questions
    Answered

    Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

    Submit Assignment
    Home | Company Overview | Services | Discover Q&A | Sitemap | Contact Us | T & C | Refund Policy | Copyright Policy | Blog | Q&A | Directory

    ©TutorsGlobe All rights reserved 2022-2023.