Retiring partner`s capital account is ___ when the sum due to him is paid.

credited

No worries! We‘ve got your back. Try BYJU‘S free classes today!

debited

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

Solution

The correct option is B
debited

Retiring partner`s capital account is debited when the sum due to him is paid.

Suggest Corrections

Similar questions

On retirement, the capital account of the retiring partner shall be credited with ……….

Q. When the amount due to retiring partner is paid by cheque, account is credited.

When the amount due to retiring partner is paid by cheque, which account is credited?

Q. When is a claim of retiring partner transferred to Loan account which accounts it is credited to?

If the value of goodwill is Rs. 3,00,000. The PSR of A, B and C is 1:1:1. A retires and new profit sharing ratio is 1:1. B and C Capital accounts will be debited with what amount?

Join BYJU'S Learning Program

Retiring partner`s capital account is ___ when the sum due to him is paid.

The correct option is B debited Retiring partner`s capital account is debited when the sum due to him is paid.

The correct option is B
debited

Retiring partner`s capital account is debited when the sum due to him is paid.