The credit balance of profits abnd loss account appears in the books at the time of admission of partner will be transferred to:
A. Profit and loss appropriation account
B. All partners capital account
C. Old partners capital account
D. Revaluation account
Answer:C
The credit balance of profits abnd loss account appears in the books at the time of admission of partner will be transferred to:
A. Profit and loss appropriation account B. All partners capital account C. Old partners capital account D. Revaluation account