Question:

In accounting for partnerhip, is it possible that the share in profits be moved to capital?

by  |  earlier

0 LIKES UnLike

In accounting for partnerhip, is it possible that the share in profits be moved to capital?

 Tags:

   Report

1 ANSWERS


  1. That is precisely where they go at the end of the accounting period.  Net income is closed out to retained earnings (a capital account) and is then allocated to the partners

    Hope this helps

    Jerry-the-bookkeeper

Question Stats

Latest activity: earlier.
This question has 1 answers.

BECOME A GUIDE

Share your knowledge and help people by answering questions.