Question

At the end of the year where will you transfer drawing account, in fixed capital account method? ​

Answer 1

✔️ So, when the partner's capital are fixed,drawings made by a partner will be recorded in the current account debit side.

...

• In case of Fixed Capital method, two accounts are opened for recording the transactions:-
• salary,
• commission,
• interest on capital,
• drawings etc.

mark ❤️