--%>
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 : Write a short note on Not-for-profit

    Write a short note on Not-for-profit organizations?

    		•
  • Q : Child tax credit A type of personal tax

    A type of personal tax credit that reduces the amount a taxpayer must pay. The child tax credit is $1,000 (in 2008) for each child meeting the criteria the child must be a U.S.  National, citizen, or resident under 17, a dependent of the taxpayer, and a grandchil

    		•
  • Q : Define the term Strategic management

    Briefly define the term Strategic management and also state the reason why it is designed?

    		•
  • Q : Characteristics which accounting

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

    		•
  • Q : Comparability-Accounting information

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

    		•
  • Q : Business law Hello, I am  Lauren

    Hello, I am Lauren Garcia, i have paid for question, please answer me here. Describe what parts of business law are involved in the following scenario. What issues are in

    		•
  • Q : Influence of managers

    Write down a short note on the influence of manager’s behavior in management accounting information?

    		•
  • Q : What is Direct Cost Direct Cost : The

    Direct Cost: The cost of resources directly used by an activity. The direct costs are assigned to actions by direct drawing of units of resources used by individual actions. A cost which is particularly recognized with a single cost o

    		•
  • Q : Determining costs and benefits in

    Write down a short note on determining costs and benefits in decision making process?

    		•
  • 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

    		•