Question

If the Partner’s Capital Accounts are fluctuating, in that case following item/items

will be recorded in the credit side of capital accounts :​

Answer 1

Answer:

Items that may appear on the credit side of the Capital Account when the partner's capitals are fixed are:

1. The opening balance of the partner's capital that appears on the Balance Sheet of the previous year.

2. Any additional capital brought in by the partners.

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