If the partner's capital accounts are fixed, where will you record drawings made by a partner out of his capital during the year.
This question was previously asked in
Shift 12/06/2023 3:30 PM - 6:30 PM
A
Debit side of Partner's Current A/c
B
Debit side of Partner's Capital A/c
C
Credit side of Partner's Capital A/c
D
Credit side of Partner's Current A/c
Correct Answer
Debit side of Partner's Capital A/c
Detailed Explanation
NOTE* AS PER NTA THE ANSWER TO THIS QUESTION IS (2).
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