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When a liability is to be discharged by a partner, why is his capital account credited? - Accounts

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प्रश्न

When a liability is to be discharged by a partner, why is his capital account credited?

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उत्तर

When a partner agrees to settle a liability, their capital account is credited as their entitlement from the firm increases by the amount of the liability they have undertaken.

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  या प्रश्नात किंवा उत्तरात काही त्रुटी आहे का?
पाठ 5: Dissolution of Partnership Firm - SHORT ANSWER QUESTIONS [पृष्ठ ५.७४]

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डी. के. गोएल Accountancy Volume 1 and 2 [English] Class 12 ISC
पाठ 5 Dissolution of Partnership Firm
SHORT ANSWER QUESTIONS | Q 11. | पृष्ठ ५.७४
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