Question

What is partners current account

Answer 1

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In case of partnership type of ownership in a business, partner current account is prepared when capital is fixed. Transactions such as drawings, salary, and interest on capital and drawings are recorded. The balance of this account fluctuates every year. The balance can be both credit or debit.



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Answer 2

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.

◆ The balance of this account fluctuates every year.

◆ The balance can be both credit or debit.

Hope it's help!!