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I have quarry assets is taken over by partner asset account will cr or Dr same as with liabilities taken over by partner
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I have quarry assets is taken over by partner asset account will cr or...
Partners a/c will be Dr. as per golden rule ..dr.the reciever ..and credit. the giver .. in case liability is taken...it means liability is decreasing ..so partners a/c will be cr.
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I have quarry assets is taken over by partner asset account will cr or Dr same as with liabilities taken over by partner Related: Settlement of Accounts (part a) - Class 12, Accountancy
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