Current account
This query is : Resolved
26 September 2014
I want to ask what exactly is the difference between current and capital account... In other words i wish to know what is current account
Nikhil Kaushik
(Expert)
26 September 2014
where two separate accounts are maintained namely, capital account and current account, the logic is that capital account will not be touched for the day to day transactions between the firm and the partners. A current account will be maintained for transactions such as interest on capital, drawing, salary, profit share etc. This leaves the capital account intact.
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