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Accountancy

In the question we transfer the realisation loss directly to the partners capital account will it still be correct or should we do it in the study material way where that have take it to the partners current accounts

sradha krishna sunil

CA Final

★ 5K+

29-Apr-23 13:22

277

Answers (3)

We use capital account only in two cases - Drawings and additional capital brought in. The other transactions relating to partners are usually recorded in partner's current account.

Devadharshini S

CA Final

★ 58K+

29-Apr-23 15:09

Both are correct

Yogesh M

CA Final

★ 990

29-Apr-23 16:05

Either way can be done.

CA Suraj Lakhotia

Admin

30-Apr-23 16:14