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Complete the Sentence. The balance of Drawings Account of a partner is transferred to his _______ account under the Fixed Capital Method. - Book Keeping and Accountancy

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Question

The balance of Drawings Account of a partner is transferred to his _______ account under the Fixed Capital Method.

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Solution

The balance of Drawings Account of a partner is transferred to his current account under the Fixed Capital Method.

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Chapter 1: Introduction to Partnership and Partnership Final Accounts - Exercise 1.1 (Objective Questions) [Page 52]

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Balbharati Book-Keeping and Accountancy [English] Standard 12 Maharashtra State Board
Chapter 1 Introduction to Partnership and Partnership Final Accounts
Exercise 1.1 (Objective Questions) | Q I. E. 5) | Page 52
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