List the items which may be debited or credited in capital accounts of the partners when:
(i) Capitals are fixed.
(ii) Capital are fluctuating.

Explanation

(i)When Capitals area fixed

The following things area unit attributable within the Partner's Capital Account once capital accounts area unit mounted.
(a) gap balance of capital
(b) further capital introduced throughout AN accounting year The following things area unit debited within the Partner's Capital Account once capital accounts area unit mounted.
(a) a part of capital withdrawn
(b) Closing balance of capital


(ii)When Capitals are fluctuating

The following things square measure attributable within the Partner's Capital Account once capital accounts square measure unsteady.
(a) gap balance of capital.
(b) extra capital introduced throughout AN accounting year
(c) Salaries to the partners
(d) Interest on capital
(e) Share of profit
(f) Commission and bonus to the partners
The following things square measure debited within the Partner's Capital Account once capital accounts square measure unsteady.
(a) Drawings created throughout the accounting amount
(b) Interest on drawings.
(c) Share of loss.
(d) Closing balance of capital.