Multiple choice

Where will a person record share of loss, when partners capital accounts are fixed?

  1. Debit side of partners capital account.

  2. Credit side of partners capital account.

  3. Debit side of partners current account.

  4. Credit side of partners current account.

  5. The Balance Sheet.

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Share of Loss debit side and Share of profit credit side in partners current account.