A partners has to pay interest on drawings what is the entry in the personal A/c of the partner?
A) credit partners capital a/c
B) credit partners current a/c
C) debit the partners current a/c
D) debit partners current a/c
Correct Answer:
Verified
Q1: Drawings of the partners are:
A)debited to profit
Q3: Salary paid to partner should be:
A)debited to
Q4: Interest on capital Account:
A)debited to profit &
Q5: At the time of admission of a
Q6: At the time of admission an incoming
Q7: Goodwill is valued as two years purchase
Q8: Value of goodwill agreed upon Rs. 30000
Q9: Goodwill of the firm is valued Rs.
Q10: An incoming partner pays his share of
Q11: At the time of admission of a
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