Why capital a/c is credited here and not current a/c ?
Dear Student,
here the given entry in book is wrong.
All the adjustments for drawing, interest on capital, interest on drawings, salary, share of profit/ loss are made in current account if partner's capital accounts are fixed.
Journal entry should be:-
Regards.
here the given entry in book is wrong.
All the adjustments for drawing, interest on capital, interest on drawings, salary, share of profit/ loss are made in current account if partner's capital accounts are fixed.
Journal entry should be:-
Regards.