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If the partner’s capital accounts are fixed, where will you record the following item? Salary payable to a partner.

If the partner’s capital accounts are fixed, where will you record the following item?

Salary payable to a partner.

Very Short Answer

If the partner’s capital accounts are fixed, the salary payable to a partner will be recorded in the credit of the partner’s current accounts.

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Chapter 1: Accounting for Partnership Firms - Fundamentals - VERY SHORT ANSWER QUESTIONS (1 Mark) [Page 1.130]

Chapter 1 Accounting for Partnership Firms - Fundamentals
VERY SHORT ANSWER QUESTIONS (1 Mark) | Q 29. (b) | Page 1.130

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