Question

account will be debited when the interest on drawings is charged, and partner's follow fixed capital method

• A. Partner's capital
• B. Partner's current
• C. Interest
• D. Profit & Loss

Answer 1

The correct option is B Partner's current

In the case of fixed capital accounts, other transactions such as drawings and profit are recorded in a separate account called the current account. Partner's current account will be debited when the interest on drawings is charged, when partner's follow fixed capital method.