What is partners current account
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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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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.
HAVE A GREAT DAY
Answered by
10
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!!
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!!
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