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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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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Question Posted: Jun 24, 2019 11:13 AM

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The accounting treatment of a partners drawings differs when separate Retained Earnings accounts are kept for each

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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

Accounting

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