A partnership keeps both current accounts and capital accounts for every partner. A book-keeper with little experience drew up the account below, but it includes mistakes. Owen capital account: Debit: balance c/d $1350 Credit: balance b/d $1000; loan made to partnership $300; interest on capital $50 What figure should be shown as the closing balance on Owen’s capital account?
- A\$750
- B\$1000
- C\$1050
- D\$1300