Practicing Success
Practicing Success
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| On which side of which account retiring partner's loan account is shown? |
Assets side of B/S Liabilities side of B/S Debit side of P& L A/c Credit side of P& L A/c |
| Liabilities side of B/S |
| The balance of the retiring partner’s loan account is shown on the liabilities side of the Balance Sheet till the last installment is paid to him/her. |
