​when an asset is taken over by an partner why his capital account is debited 

Hi Ambareesh,

All the partners have an equal claim to the assets of the firm and likewise they are equally liable for the obligations of the firm. Therefore, if any partner takes over an asset, then the firm shall debit (decrease) his capital account, indicating that now the firm owes a lesser amount to the concerned partner (in respect of capital invested) to the extent of asset value. Similarly, if any partners takes over a liability, then the firm shall credit (increase) his capital account, indicating that now the firm owes more amount to the concerned partner (in respect of capital invested) to the extent of liability value.

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When any partner took over any assets, their claim is decreased over the firm by amount of asset(s) taken by him, thus his capital a/c decreases, by being debited.
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