Recording a write down from an original partner's capital of book value to its implied fair market value would involve a debit to which account:

Question

Quizplus · Accepted Answer

Recording a write down from an original partner's capital of book value to its implied fair market value would involve a debit to the partner's capital account. This is because the change in value affects the partner's capital balance, and therefore, must be reflected in that account.

Recording a Write Down from an Original Partner's Capital of Book