CameraIcon

CameraIcon

SearchIcon

MyQuestionIcon

MyQuestionIcon

Adjustment of Reserves

The accumulat...

Question

The accumulated profits reserves are transferred to ___

A

None of these

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

B

Partner`s capital account

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

C

Bank account

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

D

Realisation account

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

Open in App

Solution

The correct option is B
Partner`s capital account

The accumulated profits reserves are transferred to Partner`s capital account.

Suggest Corrections

thumbs-up

1

mid-banner-image

mid-banner-image

Similar questions

To transfer the accumulated profits, all the capital accounts of partners are ___

Q. To which account is accumulated balances of profit and loss account and general reserve account are transferred at the time of admission of a partner?

Q. Before a partner retires, reserves created out of profits or balances in profit and loss account must be transferred to the capital accounts of all the partners in ________.

Q. Before a partner retires, reserves created out of profits or balances in profit and loss account must be transferred to the capital accounts of all the partners in -

Q. Accumulated profits are transferred to capital account in ______ratio.

View More

similar_icon

Related Videos

lock

Shutting Down the Business

ACCOUNTANCY

Watch in App

Explore more

Adjustment of Reserves

Standard XII Accountancy