Question

list the items which may be debited or credited in capital accounts of the partners !
(i) capitals are fixed
(ii) capital are fluctuating​

Answer 1

Answer:

HOPE THIS HELPS YOU

Explanation:

Items that may appear on the debit side of the Capital Account when the capitals are fluctuating :

Items that may appear on the debit side of the Capital Account when the capitals are fluctuating :1. Interest on drawings;

Items that may appear on the debit side of the Capital Account when the capitals are fluctuating :1. Interest on drawings;2. Drawings of the partners;

Items that may appear on the debit side of the Capital Account when the capitals are fluctuating :1. Interest on drawings;2. Drawings of the partners;3. Share of loss of each partner;

Items that may appear on the debit side of the Capital Account when the capitals are fluctuating :1. Interest on drawings;2. Drawings of the partners;3. Share of loss of each partner;4. Withdrawal of capital by the partners;

Items that may appear on the debit side of the Capital Account when the capitals are fluctuating :1. Interest on drawings;2. Drawings of the partners;3. Share of loss of each partner;4. Withdrawal of capital by the partners;5. Closing Balance of the Partner's capital account.