Capital account, An account used in a partnership to record an individual partner's

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.

View Complete Question

Related Questions in Managerial Accounting

Q : Comparability-Accounting information

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

Q : Changing business landscape What do you

What do you mean by the term changing business landscape?

Q : Functions explain how the provision of

explain how the provision of management accounting information can assist the management of a company with planning, controlling, decision making and communicating

Q : Benefit of economic in accounting

Write down a short note on the benefit of economic in accounting management information?

Q : Human relation discuss the limitations

discuss the limitations of human relations approaches to management

Q : Determine & Analysis on Income

The DU Inn The DU Inn is an 80-room hotel located on some mountaintop in Colorado. That has no bar or restaurant &is positioned as a mid-priced, good quality "homey" hotel. It is open only during

Q : Appropriations The term used in

The term used in governmental accounting to identify amounts that the governmental unit is authorized to spend for debt repayment, operating activities, and asset acquisition. The appropriations account is a budgetary account that acts as a control account for all budgeted expenditures. More usua

Q : Break-even point The operating level at

The operating level at which the total sales revenue equals the total cost. Total sale revenue is equal to the price per unit times the number of units sold. Total cost equals total variable cost, the number of units sold in time the variable cost per unit and the tot

Q : Illustrate the general role of

Briefly illustrate the general role of accounting?

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 1456506 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1940006
Asked

3,689

Active Tutors

1456506

Questions
Answered

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

Submit Assignment