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.

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[kiee.ashleigh]

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[boomersings]

please add a video on how to pass accounting exam without studying, tysm

[thembisikhosana]

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[soundersofthetrumpet]

please add a video about treatment of goodwill

[samrasamra]

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[NoaxChileleko]

How can you identify that this account should be debit or credit under current account

[shedholekata]

What if you have not given statement of equity for choosing of appropriation account?

[TinaZulu-uhhs]

Hi can u make a video where the net profit is wrong and there are adjustments missing, there is accumulated depreciation and vehicle

[ZinhleMaduna-elbk]

Why didn't you add the drawings as yu also added the interest on drawings

[HildaAmogelang]

How to calculate appropriation when not given the stament of equity

[TinaZulu-uhhs]

Hi can u make a video where the net profit is wrong and there are adjustments missing, there is accumulated depreciation and vehicle