Question

If a partner takes over an asset, such (Partner’s Capital Account__) is (debited/credited).

Answer 1

ʜᴇʟʟᴏ.

ᴜ ʀ ᴀɴsᴡᴇʀ_

⬇️⬇️⬇️⬇️

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ɪғ ᴘᴀʀᴛɴᴇʀ ᴛᴀᴋᴇs ᴏᴠᴇʀ ᴀɴ ᴀssᴇᴛ

ғʀᴏᴍ ᴛʜᴇ ʙᴜsɪɴᴇss ɪᴛ ᴡɪʟʟ ʙᴇ

ᴅᴇʙɪᴛᴇᴅ ᴛᴏ ᴘᴀʀᴛɴᴇʀs ᴄᴀᴘɪᴛᴀʟ

━━━━

ᴀᴄᴄᴏᴜɴᴛ.

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ᴍᴀʏʙᴇ ɪᴛ ʜᴇʟᴘs ᴜ....☺️

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@addictedboy....‼️

Answer 2

HEY MATE✌️✌️

ANSWER----------------------

IF A PARTNER TAKES OVER AN ASSESTS ,SUCH CAPITAL ACCOUNT IS DEBITED.

HOPE THIS HELPS YOU ☺️