prepare specimen proforma of partners current account
Welcome to the solution site, which is interested in answering educational questions, as it provides an answer to your questions in all areas
The solution site is concerned with questions, answers and solutions for all study materials for all levels
Through the word “Ask a Question” at the top of the site, you can ask any topic or any question or inquiry you want answered by users specialized
to solving questions and educational and academic activities that you ask
Now let’s answer your question
prepare specimen proforma of partners current account
answer :
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