To transfer the accumulated losses, all the capital accounts of partners are _________ with their share of losses.

None of the above

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

Either A or B

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

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 D
debited

To transfer the accumulated losses, all the capital accounts of partners are debited with their share of losses.

Suggest Corrections

Similar questions

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?

At the time of retirement, if there are accumulated profits or losses, they should be transferred to the capital accounts of all partners in their ___

A and B were partners in a firm sharing profits and losses equally. Their firm was dissolve on 15th March, 2014, which resulted in a loss of Rs. 30,000. On that date the capital account of A showed a credit balance of Rs. 20,000 and that of B a credit balance of Rs. 30,000. The cash account had a balance of Rs. 20,000.
You are required to pass the necessary journal entries for the:
(i) Transfer of loss to the capital accounts of the partners and
(ii) Making final payment to the partners.

Q. If interest on capital, salary to the partner and share of profit are credited while interest on drawings, drawings and share of loss are debited to the Partners' Capital Accounts, what is the method followed to maintain the Capital Accounts?

Accumulated losses are ________ to the capital accounts of partners.

Join BYJU'S Learning Program

To transfer the accumulated losses, all the capital accounts of partners are _________ with their share of losses.

The correct option is D debited To transfer the accumulated losses, all the capital accounts of partners are debited with their share of losses.

The correct option is D
debited

To transfer the accumulated losses, all the capital accounts of partners are debited with their share of losses.