Final answer:
The statement is false; it is the old partners' capital accounts that are credited when a bonus is paid to them by a newly admitted partner, not the new partner's account being debited.
Step-by-step explanation:
The statement that a newly admitted partner's capital account is debited to record a bonus to old partners is False. When a new partner is admitted to a partnership and pays a bonus to existing partners, it is actually the old partners' capital accounts that are credited to reflect their receipt of the bonus.
Conversely, the new partner's capital account is credited with the actual contribution. However, the effect of the bonus payment is to reduce the new partner's ownership interest relative to what it would have been based on the actual contribution alone.