0
What else can I help you with?
What does a credit balance on partner's current account mean?
current liability
When the firm sells the business as a going concern cash balance is transferred to?
The balance is transferred to prepare the Partner's Capital and Current Accounts.
What does a debit balance on a partner's current account mean?
It means the owner has made excessive drawings.
What is partners capital account?
The partner's capital account is similar to the owner's equity account in a sole proprietorship. It is also similar to shareholder's equity account on a corporation's balance sheet. It is the different between assets and liabilities in a company. Meaning the sum of partner's investment + revenue - expenses.
Can additional paid-in capital have a debit balance?
When there is loss in the business the capital of partner can be in negative. Then there is need for addition of capital to run the business and capital brought can still be not enough to make it in credit. Hence the capital will still show a debit balance. However, Additional Paid-In Capital as an account has meaning only for the corporate form of business. Any amount paid by an investor for stock in excess of the stock's par value is recorded as Additional Paid-In Capital. Additional investments by partners may be recorded as contributions in the current period, but are then, like partner draws, closed to the partner's capital account.
What is the reading on balance and that of partner?
18
What is partner balance in gymnastics?
A partner balance it a balance where you are balancing completely on your partner.
Can I balance transfer from my partner's card?
No, you cannot balance transfer from your partner's card.
What is the difference between paired reading and partner reading?
Paired reading typically involves a more experienced reader supporting a less experienced reader, often taking turns reading aloud. Partner reading, on the other hand, involves two readers of similar abilities reading together, providing support and feedback to each other. Both strategies aim to improve reading fluency and comprehension through collaboration.
A learning partner can help you improve your reading comprehension?
True
What to do when your feng shui is opposite to your partner?
Try to know the negative points of your partner and try to cooperate with it. This is life when you have no option the keyword is "balance" or readjust. Feng shui teaches balance and harmony. ---From Fengshuihope
What does a credit balance on partner's current account mean?
current liability
What partner pose requires both participants to stand on one leg and have to use each other to balance?
partner tree pose
What is a detection limit or lowest possible reading on a standard laboratory analytic balance?
The lowest possible reading is zero.
What is the preferred method of resolving a partner's deficit balance according to the Uniform Partnership Act?
According to the Uniform Partnership Act, the preferred method of resolving a partner's deficit balance is typically through the obligation of the partner to contribute additional capital to the partnership. If a partner's capital account shows a deficit, they are generally required to restore this negative balance, often through cash contributions or other agreed-upon means. If the partner is unable or unwilling to make such contributions, the partnership may need to adjust the distribution of profits or losses to reflect the deficit.
When the firm sells the business as a going concern cash balance is transferred to?
The balance is transferred to prepare the Partner's Capital and Current Accounts.
How does a spring balance work?
to measure the weight of an object, hang the object on the hook of the balance, lift up the balance and take the reading. OR to measure the force needed to pull an object, attach an object to the hook of the balance, pull the balance and take the reading when the object moves.
