Math, asked by nirmal3210, 3 months ago

in case an asset purchased by any partner

Answers

Answered by kingRohan5

Step-by-step explanation:

When a partner agree to pay the liabilities or take over any asset then firm will make the realisation account and respective partner who take over the asset will credit in realisation account and if he agree to pay the liabilities then his account will debit in realisation account .

Answered by Anonymous

Answer:

Yes, assets can be acquired by the partnership. This is done either by a partner transferring property to the partnership, or the partnership using its profits and other assets to acquire more property.

Step-by-step explanation:

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