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Standard XII
Accountancy
Partner's Capital Accounts
Partners capi...
Question
Partners capital account can be maintained using
methods.
A
two
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B
three
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C
four
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D
five
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Solution
The correct option is
A
two
Partners capital account can be maintained using two methods, i.e. fixed and fluctuating capital.
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Under which Capital Account Method, Current Accounts of partners are maintained?
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Answer in one sentence only.
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M/s. RSA maintains Partners' Capital Accounts under Fixed Capital Accounts Method. Accountant of the firm has credited their salary and interest on capital to their Capital Accounts. Do you agree with the treatment? Give reasons for your answer.
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