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11. lo.11 what is partner's capital account? describe how a partner's ending capital account balance is...

11. lo.11 what is partner's capital account? describe how a partner's ending capital account balance is determined.

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partner's capital account is an equity account in partnership. it represent the transaction which increase or decrease the partners share in capital. it includes: additional capital, drawing, interest on capital, share in profit etc. in simple way we can say that partners capital account is a statement that shows capital contribution and add or less incomes or losses.

ending balance determine as follows:

openini capital XXXXX

add: additional capital XXXXx

add:share in profit XXX

add: interest on capital XXXX

add: partners remuneration XXXX

less:drawing (XXX)

less: interest on drawing (XXX)

less: share in loss (XXX)

closing capital XXXXXXXXx

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