when an asset is taken over by a partner why is his capital account debited.?
Hi Kush,
The answer posted by Riya is correct. Moreover for more explanation, please go through the following link.
https://www.meritnation.com/ask-answer/question/why-should-we-write-in-dr-of-partner-capital-a-c-when-asset/accountancy/6411811
All the Best!!!