Question : In case of fixed capital, salary and commission payable to a partner will be recorded on the:
Option 1: Debit side of partner's Capital A/c
Option 2: Credit side of partner's Capital A/c
Option 3: Debit side of partner's Current A/c
Option 4: Credit side of partner's Current A/c
Answer (1)
24th Jan, 2024
Correct Answer: Credit side of partner's Current A/c
Solution : Being an income to the partners, salary and commission will be credited to the Partners' Current A/c. Hence, the correct option is 4.
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