Question

Under fixed capital method, salary or commission to partner is credited to ________ account. (Fill in the blank by choosing correct option)
a) partner's capital
b) partner's current
c) partner's drawings
d) partner's salary.

Answer 1

Hey mate✌️✌️

Under fixed capital method, salary or commission to partner is credited to ________ account. (Fill in the blank by choosing correct option)
a) partner's capital
b) partner's current ☑️☑️
c) partner's drawings
d) partner's salary.

Answer 2

• Under the fixed capital method, salary and commission to partner is credited to Partner Current account.

• Because separate capital account for each partner has to be maintained.

• Under the fixed capital method, every partner agrees to keep their capital at their original sculptures.

• Current accounts shows credit and debt balance at the year-end.