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Partnership Accounts: 2

  • P. Stevens
Chapter
Part of the Macmillan Work Out Series book series (MCWO)

Abstract

In Chapter 16 we looked at examples where the partnership had commenced as a new business. We shall now examine the situation where a partnership is formed by the amalgamation of two existing businesses. In a simple case where the partners bring in cash or assets the entries are the same as those illustrated in worked example 16.3 in Chapter 16 — that is,

Dr. Asset account

Cr. Partner’s capital account

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Copyright information

© P. Stevens 1987

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  • P. Stevens

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