Under which capital method, there are 2 accounts opened for each partner?
Normal
Floating
Fixed
Fluctuating
Under fixed capital method, there are 2 accounts opened for each partner i.e. capital account & current account.
Which of the following is the journal entry for transferring interest on capital to a partner under a fluctuating capital account method? [2 marks]
Which of the following shall have effect on the capital account of partners under fixed capital method?