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Int on capital

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Int on capital

Posted by Deepu Jaat 3 years, 11 months ago

CBSE > Class 12 > Accountancy

1 answers

Gaurav Seth 3 years, 11 months ago

Interest on capital is an expense to the firm and is debited to the profit and loss appropriation account. Interest is payable to the partners and hence, the partner's capital account is credited with the amount of interest. In case of loss, no interest will be allowed on capital.

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CBSE > Class 12 > Accountancy

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