--%>
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 : Things which Strengths comprises Write

    Write a brief note on the things which Strengths comprises?

    		•
  • Q : Allocating resources in decision making

    Write down a short note on the Allocating resources in decision making process?

    		•
  • Q : Influence of managers

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

    		•
  • 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 : Comparative-Advantage Approach to

    We study optimal government debt maturity in a model where investors derive monetary servicesfrom holding riskless short-term securities. In a simple setting where the government is the onlyissuer of such riskless paper, it trades off the monetary premium associated w

    		•
  • Q : Understandability-Accounting information

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

    		•
  • Q : Define Management Accounting Give a

    Give a brief introduction of the term ‘Management Accounting’. And also write down its objectives?

    		•
  • Q : Major tasks of board that runs the

    Write down a short note on the major tasks of board that runs the organization?

    		•
  • Q : Main working areas of the coach

    Write a short note on the main working areas of the coach maintenance department?

    		•
  • 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

    		•