Question

Give two items which may appear on the debit side of a partners current account

Answer 1

drawings
debit balance of partner

Answer 2

Question

Give two items which may appear on the debit side of a partners current account.

Debit is an accounting entry which results into increase in assets or decrease in liabilities in a company balance sheet.

The debit side contains the following items

Opening stock-This consist of raw materials and assets depending on the nature of the business

Purchase which involves the purchase of assets which cn be both cash purchase and credit purchase

Purchase returns however are on the credit side.

This is because there is a reduction in the assets and increase in the liability rate.

Direct expenses