Question

Which of the following is true regarding Salary to a partner when the firm maintains fluctuating capital accounts?

विकल्प

• Debit Partner’s Loan A/c and Credit P & L Appropriation A/c.

• Debit P & L A/c and Credit Partner’s Capital A/c.

• Debit P & L Appropriation A/c and Credit Partner’s Current A/c.

• Debit P & L Appropriation A/c and Credit Partner’s Capital A/c.

Answer 1

Debit P & L Appropriation A/c and Credit Partner’s Capital A/c.