A partners has to pay interest on drawings what is the entry in the personal A/c of the partner?

Related MCQs

• An incoming partner pays his share of goodwill in cash, and profit sharing ration of old partner is changed, Goodwill be distributed among old partners:
• Drawings of the partners are:
• If the remaining partner want to continue the business, after the retirement of a partner, a new partnership agreement:
• According to which concept, the proprietor pays interest on drawings
• A is drawing Rs. 500 regularly on the 16th of every month, he will have to pay interest in a year on Rs. 6000 for the total period of @ given rate of interest):
• In the absence of an agreement, Interest on loan advanced by the partner to the firm is allowed at the rate of:
• Section 37 of partnership act provided interest on the amount left by retiring or decreased partner at:
• Every partner has a right to be consulted in all matters affecting the business of:
• In the absence of an agreement profit and loss are divided by partners in the ratio of:
• Current accounts of the partners should be opened when the capitals are: