Home
Class 12
ACCOUNTS
How would you close the Partner's Drawin...

How would you close the Partner's Drawing Account :

A

By transfer to Capital or Current Account Debit Side

B

By transfer to Capital Account Credit Side

C

By transfer to Current Account Credit Side

D

Either 'B' or 'C'

Text Solution

Verified by Experts

The correct Answer is:
A
Promotional Banner

Topper's Solved these Questions

  • ACCOUNTING FOR PARTNERSHIP FIRMS - FUNDAMENTALS

    DK GOEL|Exercise Multiple Choice Questions (vii) Adjustments in the Closed Accounts (HOTS)|12 Videos

  • ACCOUNTING FOR PARTNERSHIP FIRMS - FUNDAMENTALS

    DK GOEL|Exercise Multiple Choice Questions (viii) Guarantee of Profit to a Partner (HOTS)|13 Videos

  • ACCOUNTING FOR PARTNERSHIP FIRMS - FUNDAMENTALS

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

  • ACCOUNTING RATIOS

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

Similar Questions

Explore conceptually related problems

How would you account for the increasing oxidising power in the series VO_2^(o+)ltCr_2O_7^(2-)MnO_4^(ɵ) ?

Balance of partner's current accounts are :

DK GOEL-ACCOUNTING FOR PARTNERSHIP FIRMS - FUNDAMENTALS -Multiple Choice Questions (vi) Interest on Drawings (HOTS)
  1. Partners are suppose to pay interest on drawing only when ….. By the …...

    Text Solution

    |

  2. Where will you record interest on drawing :

    Text Solution

    |

  3. How would you close the Partner's Drawing Account :

    Text Solution

    |

  4. If date of drawings of the partner's is not given in the question, int...

    Text Solution

    |

  5. Vikas is a partner in a firm. His drawings during the year ended 31st ...

    Text Solution

    |

  6. If a fixed amount is withdrawn by a partner on the first day of every ...

    Text Solution

    |

  7. If a fixed amount is withdrawn by a partner on the last day of every m...

    Text Solution

    |

  8. If a fixed amount is withdrawn by a partner in the middle of every mon...

    Text Solution

    |

  9. In a partnership firm, a partner withdraw Rs.5,000 per month on the fi...

    Text Solution

    |

  10. Ajay is a partner in a firm. He withdrew Rs.2,000 per month on the las...

    Text Solution

    |

  11. Ajay is a partner in a firm. He withdrew Rs.2,000 per month on the las...

    Text Solution

    |

  12. If fixed amount is withdrawn by a partner on the first day of each qua...

    Text Solution

    |

  13. If a fixed amount is withdrawn by a partner on the last day of each qu...

    Text Solution

    |

  14. If a fixed amount is withdrawn by a partner in the middle of each quar...

    Text Solution

    |

  15. Anuradha is a partner in a firm. She withdraw Rs.6,000 in the beginnin...

    Text Solution

    |

  16. Bipasa is a partner in a firm. She withdraw Rs.6,000 at the end of eac...

    Text Solution

    |

  17. Charulata is a partner in a firm. She withdraw Rs.10,000 in each quart...

    Text Solution

    |

  18. If equal amount is withdrawn by a partner in the beginning of each mon...

    Text Solution

    |

  19. If equal amount is withdrawn by a partner in the end of each month dur...

    Text Solution

    |

  20. If equal amount is withdrawn by a partner in middle of each month duri...

    Text Solution

    |