Current account

This query is : Resolved

shubham (Querist)
Follow

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

Nikhil Kaushik (Expert)
Follow

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.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Michael & Co.

CA K GIRIDHAR

Samruddhi Agrawal

MURALIKRISHNA EDDANAPUDI

Namita Fule

Subscribe Now

Current account

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

Manager- Finance and Compliance

Accountant

GST CONSULTANCY

Senior Executive

CA Final