Question

If the partners capital account are fixed where will you record the following items:-
(a) salary paid to a partner.
(b) fresh capital introduced by a partner.
(c) interest on capital.
(d) interest on drawing.

Answer 1

Hello..

If the partners capital account are fixed where will you record the following items:-

a) salary paid to a partner - Partner's current a/c

b) fresh capital introduced by a partner - Partner's capital

a/c

c) interest on capital -Partner's current a/c

d) interest on drawing - Partner's current a/c

hope it helps

Answer 2

Answer:

fresh capital introduced by a partner