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Name the accounts which are maintained for the partners when capitals of the partners are fixed. (AI 2014 C)

  • Post category:Accountancy
  • Reading time:1 mins read

SOLUTION

(a) Partners’ Capital Accounts;
(b) Partners’ Current Accounts.


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Previous PostRitesh and Hitesh are childhood friends, Ritesh is a consultant whereas Hitesh is an architect. They contributed equal amounts and purchased a building for Rs. 2 crores. After a year, they sold it for Rs. 3 crores and shared the profits equally. Are they doing the business in partnership? Give reason in support of your answer. (Delhi and AI 2018)
Next PostWhat is meant by ‘Fixed Capital’ of a partner? (Delhi 2016 C)

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