If a partner's capital account is credited with a certain amount that he contributed in cash, which of the following statements will be affected?
A)withdrawal statement
B)bank reconciliation statement
C)statement of partners' equity
D)interest payment schedule

Question

Quizplus · Accepted Answer

The statement of partners' equity shows the changes in the capital accounts of each partner, including any contributions they have made. Crediting a partner's capital account with a cash contribution will increase their capital balance, which will be reflected in the statement of partners' equity. The other options listed are not affected by a partner's cash contribution.

If a Partner's Capital Account Is Credited with a Certain