Accountancy, asked by user2348, 8 months ago

M/S RSA maintains Partners' Capital Accounts under Fixed Capital Accounts Method. Accountant of the firm
has credited their salary and interest on capital to their Capital Accounts. Do you agree with the treatment?
Give reasons for your answer.​

Answers

Answered by viditu356
2

Answer:

no it is because in fixed capital every transaction of partner is recorded in its current account, in fixed capital account there should not be any mismatch between the opening balance and closing balance of capital account

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