The accounting treatment of a partners drawings differs when separate Retained Earnings accounts are kept for each
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‘The accounting treatment of a partner’s drawings differs when separate Retained Earnings accounts are kept for each partner as opposed to not having Retained Earnings accounts. Choice of method is immaterial.’ Discuss.
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If each partners capital account is used to reflect his or her share of profits or losses and no ret...View the full answer
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Related Book For
Accounting
ISBN: 978-1118608227
9th edition
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett
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