--%>
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 : Elements of Partnership Three main

    Three main elements of Partnership: A) Carrying on of a business: • A ‘business’ is any trade, occupation or pr

    		•
  • Q : Explain Cash Management Cash Management

    Cash Management: Cash Management is the management of cash balances of a concern in such a way as to maximize the accessibility of cash not invested in inventories or fixed assets and to ignore the risk of insolvency. According to Keynes there are thr

    		•
  • Q : Developing objectives and plans in

    Write down a short note on the developing objectives and plans in decision making process?

    		•
  • Q : Management accounting as an information

    Explain Management accounting as an information system in brief?

    		•
  • Q : Break even analysis based homework I

    I need homework help in accounting, 10 questions there about break even analysis. let us know if you can so it

    		•
  • Q : Annual report A company's annual report

      A company's annual report is the single most important way for it to convey itself to potential investors. As such, it should be no surprise tha

    		•
  • 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 : Blackout period A defined time period

    A defined time period in accounting for stock options. In the mean while the blackout period person granted the option is not allowed to exercise it. This usually occurs after the granting of the stock options and allows the price of the stock to increase above the exercise price.  <

    		•
  • Q : Define partnership A partnership is

    A partnership is stated as ‘the relationship which subsists among persons carrying on business in common with a view togain or profit’

    		•
  • Q : What do you mean by the term Mission

    What do you mean by the term Mission statements? Briefly describe it.

    		•