Final Accounts - help on capital / current accounts please?

kt82

is the following logic correct.....or have a confused myself??? I had it in my head that drawing always went in the capital account irrespective of if Sole trader or partnership......but i think that was wrong.............


Sole trader – everything relating to the owners money goes through the capital account – initial money introduced / drawings / profit-loss, etc



Partnerships – have both current accounts and capital accounts........

Current accounts......have profit share, interest on capital, interest on drawings, Actual Drawings, salaries (of a partner),


So Capital accounts for a partnership would only have.......initial investment and estimated Goodwill (when you have to credit / debit because of a new partner,etc) ??? Is that right???

and the only thing on the debit side of the capital account of a partnership would be if a partner was retiring / leaving the business or an adjustment of goodwill because of someone else leaving?? (other than the normal carried down figures)

Is this right?

Thank you