Home
Class 12
ACCOUNTS
Interest on Partner's drawings will be d...

Interest on Partner's drawings will be debited to :

A

Profit and Loss Account

B

Profit and Loss Appropriation Account

C

Partner's Current Account

D

Interest Account

Text Solution

Verified by Experts

Promotional Banner

Topper's Solved these Questions

  • ACCOUNTING FOR PARTNERSHIP FIRMS - FUNDAMENTALS

    DK GOEL|Exercise Multiple Choice Questions (v) Interest on Capital (HOTS)|6 Videos

  • ACCOUNTING FOR PARTNERSHIP FIRMS - FUNDAMENTALS

    DK GOEL|Exercise Multiple Choice Questions (vi) Interest on Drawings (HOTS)|26 Videos

  • ACCOUNTING FOR PARTNERSHIP FIRMS - FUNDAMENTALS

    DK GOEL|Exercise Multiple Choice Questions (iii) Calculation of Profit and Division of Profit among partners (HOTS)|14 Videos

  • ACCOUNTING RATIOS

    DK GOEL|Exercise Multiple Choice Questions (Profitability Ratios)|13 Videos

Similar Questions

Explore conceptually related problems

Interest on partner's drawings will be credited to

Interest on partner's capitals will be debited to :

Interest on partner's capitals will be credited to :

According to Profit and Loss Account, the net profit for the year is Rs.1,50,000. The total interest on partner's capital is Rs.18,000 and interest on partner's drawings is Rs.2,000. The net profit as per Profit and Loss Appropriation Account will be :

Interest On Drawings