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easyMCQCUET Accountancy 2025 22 May Shift 22026Accountancy
1 mark

While doing adjustment of partners' capital, for the amount of capital to be brought in by the partner, the following entry will be passed:

  1. A
    Bills payable A/c Dr.To Partners' Capital A/c
  2. B
    Partners' Capital A/c Dr.To Cash / Bank A/c
  3. C
    Partners' Capital A/c Dr.To Bills payable A/c
  4. D
    Cash / Bank A/c Dr.To Partners' Capital A/c

Solution & Step-by-step Explanation

When a partner brings in fresh/additional capital in cash or via bank check, the asset (Cash/Bank) increases and the partner's capital claim increases.The transaction entry is:

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While doing adjustment of partners' capital, for the amount of capital to be brought in by the partner, the following entry will be passed:
A
Bills payable A/c Dr.To Partners' Capital A/c
B
Partners' Capital A/c Dr.To Cash / Bank A/c
C
Partners' Capital A/c Dr.To Bills payable A/c
D
Cash / Bank A/c Dr.To Partners' Capital A/c

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