State any one difference between Fixed Capital Accounts and Fluctuating Capital Accounts of partners. (Al 2014 C) Post category:Accountancy Reading time:1 mins read SOLUTION Fixed Capital Account cannot have a debit balance but Fluctuating Capital Account can have a debit balance. Please Share This Share this content Opens in a new window Twitter Opens in a new window Facebook Opens in a new window Google+ Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostWhich capital accounts always show a credit balance? (CBSE 2020) Next PostWhy does the Fixed Capital Account of partners show credit balance even when the firm suffers losses year after year? (CBSE 2020) You Might Also Like Goodluck Ltd purchased machinery costing Rs. 10,00,000 from Fair Deals Ltd. The company paid the price by issue of Equity Shares of Rs. 10 each at a premium of 25%.Pass necessary Journal entries for the above transactions in the books of Goodluck Ltd. July 14, 2022 Madan and Gopal are partners sharing profits in the ratio of 3 : 2. They admit Sooraj for 1/3rd share in profits on 1st April, 2019. They also decide to share future profits equally. Goodwill of the firm was valued at Rs. 5,50,000. Goodwill existed in the books of account at Rs. 1,00,000, which the partners decide to carry forward. Sooraj is unable to bring his share of goodwill. Pass the necessary Journal entries on admission of Sooraj, if: (a) Goodwill is not to be raised and written off; and (b) Goodwill is to be raised and written off. August 1, 2022 In case Operating Cycle cannot be determined, what is the time period of operating cycle assumed? September 30, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.