MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Changes in the Value of Assets and Liabilities

Write the wor...

Question

Write the word/term or phrase which can substitute each of the following statement.

Excess actual capital over proportionate capital.

Open in App

Solution

Surplus Capital

Explanation: Excess of actual capital over proportionate capital is regarded as surplus capital. This surplus capital is either transferred to the current accounts or can be withdrawn by the old partners as per the terms of the partnership agreement.

Suggest Corrections

thumbs-up

0

Similar questions

Q. Write the term / word / phrase which can substitute each of the following statement :

Excess of actual capital over proportionate capital.

Q. Give a word / term / phrase which can substitute each of the following statements :

Excess of proportionate at capital over actual capital.

Q. Write the word / term / phrase, which can substitute each of the following statements.

Debit balance of an insolvent Partner’s Capital Account.

Q. Write the word / term / phrase which can substitute each of the following Statements.

A statement similar to Balance Sheet prepared to ascertain the amount of closing capital.

Q. Give the word / term or phrase which can substitute each of the following statement.

Method of Capital account in which capital balances of partners changes every year?

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Death of a Partner

ACCOUNTANCY

Watch in App

explore_more_icon

Explore more

Changes in the Value of Assets and Liabilities

Standard XII Accountancy

Join BYJU'S Learning Program

CrossIcon