Current Account in Partnership (General Ledger) | Full Example

In this accounting lesson, we explain what the current account for a partnership is, and why we complete it. We also go through an example of how to do the current account for partners in the general ledger (T Account) of the partnership and how to close off/balance off the account. We calculate interest on capital, interest on current account, interest on drawings, and partner's share of remaining profits in the appropriation account.

Statement of Changes in Equity for Partnership | FULL EXAMPLE:    • Statement of Changes in Equity for Pa...  

Appropriation Account - Partnership (General Ledger) | FULL Example:    • Appropriation Account - Partnership (...  

General Ledger (T Accounts) | Explained with Examples:    • General Ledger (T Accounts) | Explain...  

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