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CBSE Class 12-commerce Answered

In admission que no 91 why we will credit to c's current a/c why can't we take c's capital a\c at current a\c
Asked by Smitakhadayate20 | 16 Jul, 2018, 09:33: PM
answered-by-expert Expert Answer
In the quoted question current account of admitted partner has been used to settle the balances because whenever capital accounts of the aprtners are to be readjusted on the basis of their profit sharing ratio, any excess or deficiency is transferred to Current Account. Accordingly, here amount of premium for goodwill not brought in has been settled through C's Current Account. However, you need not worry, in examinations generally it is specified whether adjustment for such questions is to be done through opening current account or not.
 
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Answered by | 17 Jul, 2018, 10:17: AM

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