Question

In normal trading circumstances, which of the following would not be found in a partner's capital account?

• A. Drawings
• B. Interest on revaluation
• C. Profits on revaluation
• D. None of the above

Answer 1

The correct option is A Drawings

In a partnership firm's balance sheet you will find capital account and current account . The capital account reflects the capital brought in by the partners . The capital account remains the same from year to year . The current account is used for credit of profit or debit of loss , interest on partners capital and drawings. . This account fluctuates from year to year. So drawings is generally not found in partners capital account