Which of the following will decrease the capital balance of a partner? A. Share in partnership profit. B. Receipt of share in revaluation surplus from a partnership property, plant and equipment. C. Drawing made by a partner. D. Advances made by partner to the partnership.
Which of the following will decrease the capital balance of a partner? A. Share in partnership profit. B. Receipt of share in revaluation surplus from a partnership property, plant and equipment. C. Drawing made by a partner. D. Advances made by partner to the partnership.
Chapter15: Partnership Accounting
Section: Chapter Questions
Problem 3MC: Which of the following is a disadvantage of the partnership form of organization? A. limited life B....
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Which of the following will decrease the capital balance of a partner?
A. Share in partnership profit.
B. Receipt of share in revaluation surplus from a partnership property, plant and equipment.
C. Drawing made by a partner.
D. Advances made by partner to the partnership.
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