Accountancy, asked by basit007, 3 months ago

Partners current account are opened when capital are

Answers

Answered by srikavithailaya

1

Answer:

Partner's current account are opened when their capital is Fixed.

Explanation:

Explanation: One is Fixed capital method and other is Fluctuating capital account method. In case of fixed capital method,current accounts are opened to record for all other adjustments like salary,commission,interest on capital,loans and drawings etc. Partners capital account shows a fixed balance year after year.

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