hi all,i am new here so please be patient with me.
i am stuck on my balance sheet as it wont balance.can someone confirm with me if i am right in putting the 2 partners account balances as equity or should it go at assets.?
The 2 partner's (normal) account balances should be shown on the balance sheet as credits. Any guaranteed payments (or other distributions) or usually shown on a separate balance sheet account as a debit. Hope this helps.
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