if loan of partners wife is paid by partner itself does it go to partners capital account and why - Accountancy - Dissolution of Partnership Firm

Question

if loan of partners wife is paid by partner itself does it go to
partners capital account and why

Komal Rani · Accepted Answer

Dear student if loan of partners wife is paid by partner itself it
can be treated in two ways If nothing is mentioned loan will be
transferred to realisation account and after that same will be paid
as specified Second could be that the same is to be repaid by her
husband or say partner itself then there will be no need to
transfer the loan in realisation account rather direct entry would
be past that is loan account will be debited and partners capital
account will be credited Regards