Interest on drawings is

Related MCQs

• Which of the following accounts appear(s) in the Balance Sheet of a business? i. Stock at the end of the financial year ii. Stock at the beginning of the financial year iii. Drawings iv. Prepaid Rent v. Interest received but not yet earned
• If a fixed amount is withdrawn on the first day of every month of calendar year by a partner in partnership firm, then for what period the interest on the total amount of drawings will be calculated?
• Interest of Drawings is:
• Under single entry system , drawings is _____ to know gross profit
• Which of the following statements is/are true? (i) Drawings Account is a Nominal Account (ii) Capital Account is a Real Account (iii) Sales Account is a Nominal Account (iv) Outstanding salaries account is a Nominal Account (v) Patents Account is a Personal Account
• From the following details estimate the capital as on 31.03.2017. Capital as on 01.04.2016 - `4,10,000. Drawings `40,000, Profit during the year ` 50,000
• Drawings account is the nature of
• If opening capital is Rs.5,000; closing capital - Rs.7,000; drawings - Rs.1,000 and additional capital introduced during the year is Rs.500; then, the amount of profit made would amounted to
• If the opening capital is Rs.20,000 and closing capital is Rs.25,000; drawings made amounted to Rs.1,800; then, the amount of Rs.________ must be introduced as an additional capital during the year in order to earn a profit of Rs.2,800.
• Profit under the net worth method, when there are no drawings and no additional capital is the difference between: