Question

) Income to a partner are recorded in _____ side of P/L Appropriation Account and _______ of capital Account:
a) Dr. Cr.
b) Cr.dr.
c) both
d) None of these​

Answer 1

Answer:

c)both

Explanation:

because here we are mentioning record in account, not crediting or debiting

Answer 2

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Hence, a) Dr. Cr. is the correct answer.

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Explanation:

• Income to partner is expense of business. hence it will be recorded in Dr side of p&l appropriation account.
• Income to partner is income of partner so it will be recorded in cr side of partners' capital / current ac

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