Question

What is normal balance for partner s Current Account​

Answer 1

A debit balance of partner's current account depicts the amount for the balance which the partner has to pay to the company or the firm. If the payment is to be paid by the company to the partner, in that case, the balance of the current account of partner will appear on the debit side.

Answer 2

Answer:

The balance can be both credit or debit. Hey mate!! In the case of partnership type of ownership in a business, partner current accounts is prepared when capital is fixed. Transactions such as drawings,salary,and interest on capital and drawings ate recorded.

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