Multiple choice

Debit balance of Current Account is shown in which of the following sheets?

  1. Liabilities side of Balance Sheet

  2. Assets side of Balance Sheet

  3. Debit side of Partners Capital A/c

  4. Credit side of Partners Capital A/c

  5. Profit and Loss Adjustment A/c

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Debit balance of Current Account is shown in the assets side.