Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 10 - No. 8)
What would be the immediate accounting effect of a partner investing cash into the business?
Debit Cash, Credit Partner's Drawings
Debit Cash, Credit Partner's Capital
Debit Partner's Capital, Credit Cash
Debit Partner's Drawings, Credit Cash
Explanation
Investing cash increases the business's cash (debit) and increases the partner's capital (credit).
Comments (0)
