one of the method for maintaining capital account
interest on capital
drawings
interest on drawings
salary of the partner
share of profit or loss
All the above are recorded in current account or drawings account.
Wednesday, 26 April 2017
A3 Fixed capital
A3 FLOATING OR FLUCTUATING CAPITAL METHOD FOR P&L ACCT
Amount of capital contributed
interest on capital
drawings
interest on drawings
salary of the partner
share of profit or loss
Balance amount of Balance Shee
note:-the capital at the end of the period will not be same what it was in the beginning.
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