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If A brings a machine into the firm as capital valued at Rs 50000 what entry will be made in As capital account?

Answer and explanation

Correct answer: As capital account will be credited

When machine is brought as capital the partners capital increases. Therefore the concerned partners capital account is credited.

Related tags

Asset As CapitalCapital IntroducedJournalCapital AccountsPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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