To transfer the accumulated profits, all the capital accounts of partners are ___
either A or B
credited
debited
To transfer the accumulated profits, all the capital accounts of partners are credited with their share of profits.
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 ___