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CBSE Class 12-commerce Answered

In chapter 3, que no. 9 why we will dr to A's capital a/c instead of B's capital a/c for adjusting profit.because we always debut to gaining partners
Asked by Smitakhadayate20 | 15 Dec, 2018, 07:31: AM
answered-by-expert Expert Answer
In the given question, A is the sacrifcing partner and B is the gaining partner. In order to adjust the profits of the firm for such sacrifice and gain, sacrificing partner's capital account be debited and the gaining partner's capital should be credited. Therefore, A being the sacrificing partner his capital account is debited and B being the gaining partner his capital account is credited.
Answered by | 18 Dec, 2018, 09:31: AM

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