Accountancy, asked by siya5796, 2 months ago

why drawing against capital written in debit side of current account​

Answers

Answered by bandanasahoo
1

As the current account is a capital account you would expect it to have a credit balance because it is categorised as a liability. ... Therefore, anything that increases the amount the business owes the partner is entered on the credit side, and items that reduce what the partner is owed, are entered on the debit side.

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