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Adjustment in Partner's Capital A/c (Retirement)

Transfer of W...

Question

Transfer of Workmen Compensation Reserve is shown in which side of partner's capital accounts?

A

debit

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B

credit

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Solution

The correct option is B
credit

Transfer of Workmen Compensation Reserve is shown in the credit side of partner's capital accounts.

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Q. On the death of a partner, the remaining balance in workmen compensation reserve is transferred to partner's capital account in their ratio.

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