Match List-I with List-IIList-IList-II(A) Bank (fresh capital introduced)(I) Debit side of Partner's Current Account(B) Interest on drawings(II) Debit side of Partner's Capital Account(C) Bank (permanent withdrawal of capital)(III) Credit side of Partner's Current Account(D) Commission(IV) Credit side of Partner's Capital AccountChoose the correct answer from the options given below:
- A(A) - (IV), (B) - (I), (C) - (II), (D) - (III)
- B(A) - (I), (B) - (II), (C) - (III), (D) - (IV)
- C(A) - (I), (B) - (II), (C) - (IV), (D) - (III)
- D(A) - (III), (B) - (IV), (C) - (I), (D) - (II)
Solution & Step-by-step Explanation
Let's systematically match based on Fixed Capital setup bookkeeping:(A) Fresh capital introduced increases core capital (IV) Credit side of Partner's Capital Account.(B) Interest on drawings reduces a partner's balance via active transactions (I) Debit side of Partner's Current Account.(C) Permanent capital withdrawal actively pulls out equity roots (II) Debit side of Partner's Capital Account.(D) Commission earned increases operational balances (III) Credit side of Partner's Current Account.This gives the perfect match string: (A) - (IV), (B) - (I), (C) - (II), (D) - (III).