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प्रश्न
Distinguish between ‘Fixed Capital Account’ and ‘Fluctuating Capital Account’ on the basis of credit balance
उत्तर
| Basis | Fixed Capital Account | Fluctuating Capital Account |
| Credit Balance | Fixed Capital Account always shows a credit balance as all the adjustments related to interest on capital, interest on drawings, salary, etc. are made through Partners’ Current Account |
Fluctuating capital account can have both debit and credit balances as all the adjustments of interest on capital, interest on drawings, salary, etc. are made through the same account. |
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संबंधित प्रश्न
Answer in one sentence only.
What are the methods of maintaining partners’ capital accounts?
State whether the following statement are True or False.
Partner’s current account is opened when fluctuating capital method is adopted.
State whether the following statement are True or False.
A partner who provides only capital to the firm is called as nominal partner.
Write the word/phrase/term, which can substitute the following sentence.
Under this method capital, balances of partners remain constant.
Write the word/phrase/term, which can substitute the following sentence.
Such capital method in which only Capital Account is maintained for each partner.
When partners adopt Fixed Capital Method then they have to operate ________ Account.
Answer in one sentence only.
When is Partners Current Account is opened?
Vihaan and Mann are partners sharing profits and losses in the ratio of 3 : 2. The firm maintains fluctuating capital accounts and the balance of the same as on 31st March 2022 is ₹ 4,00,000 and ₹ 4,65,000 for Vihaan and Mann respectively. Drawings during the year were ₹ 65,000 each. As per the partnership Deed, Interest on capital @ 10% p.a. on Opening Capital has been allowed to them. Calculate the opening capital of Vihaan given that the divisible profits during the year 2021-22 were ₹ 2,25,000.
Assertion (A): Under the fluctuating capital method, the balance in the capital account fluctuates from time to time.
Reason (R): Under the fluctuating capital method, all the adjustments such as share of profit and loss, interest on capital, drawings, interest on drawings etc, are recorded directly in the capital accounts of the partners.
State whether the following statement is True or False with reasons:
Adjustments are recorded in Partners Current Account in Fixed Capital Method.
State whether the following statement is True or False with reasons:
Adjustments are recorded in Partners Current Account in Fixed Capital Method.
Answer in one sentence only:
What is fluctuating capital?
Answer in one sentence only:
What is fluctuating capital?
Answer in one sentence only :
What is fluctuating capital?
Answer in one sentence only:
What is fluctuating capital?
What is fluctuating capital?
Answer in one sentence only:
What is fluctuating capital?
Answer in one sentence only:
What is fluctuating capital ?
