Question

Which items are entered in partner's current account.​

Answer 1

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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.

Answer 2

Answer:

All transactions of partners such as Interest on Capital, Interest on Drawings, Salary, Bonus, Share of Profits or Losses are recorded in this account. As a result, balance in the Capital Account fluctuates with every transaction.

Explanation:

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