If the debtors are taken over by the partners then do we debit in partners capital account or his personal - Accountancy - Dissolution of Partnership Firm

Question

If the debtors are taken over by the partners then do we debit in
partners capital account?or his personal account because dr means
that amount partner has to give to the firm

Neha Chopra · Accepted Answer

Dear Student

Any asset taken over by Partner is Debited to his capital account
This transaction may be considered as partner withdrawing his
capital by way of taking asset

Now you have doubt regarding partner personal account So i would
like to say that in Partnership accounts, Their is no Personal
account of Partner All transactions are done either in his Capital
account or Current account Or may be Loan account
Therefore on taken over of Debtor , Journal entry would be
:

Partner Capital
A/c
Dr
xxx

To
Debtor

xxx

(Being debtor taken over
by firm)

Regards

Partner Capital A/c	Dr.	xxx
To Debtor			xxx
(Being debtor taken over by firm)

If the debtors are taken over by the partners then do we debit in partners capital account?or his personal account because dr means that amount partner has to give to the firm