Capital and Current Accounts 2.0 / 5 based on 1 rating ? AccountingPartnership AccountsA2/A-levelAQA Created by: VivianaCiCreated on: 07-11-16 10:25 What does a Capital Acc contain? Goodwill adjustments, profits or losses through revaluation of assets 1 of 9 What does a Current Acc contain? salaries, interest on capital residual profit, interest on drawings 2 of 9 Share of profit? Which side? CR 3 of 9 Share of loss. Which side? DR 4 of 9 Salary/Comission. Which side? CR 5 of 9 Interest allowed. Which side? CR 6 of 9 Interest charged. Which side? DR 7 of 9 Drawings. Which side? DR 8 of 9 What does the fluctuating Current Account show? If partners have withdrawn more profit from the business than they are actually earning. 9 of 9
Comments
No comments have yet been made