Q27.Which of the following account will be credited when interest on capital is charged against the distribution of profit?
(1) Partner`s capital account
(2) Interest account
(3) Profit & loss appropriation account
(4) Profit & loss account
Answer
Partner`s capital account
Related Questions on Theory Base of Accounting
Q28.Debit word is
(1) Latin Language
(2) French Language
(3) English Language
(4) Hindi Language
Answer
Latin Language
Q29.What is the amount of Interest on drawings for Ram at 10% p.a. for the Year ended 31st March 2018, if he withdrew Rs 6000 in the middle of each quarter.
(1) Rs 1200
(2) Rs 1500
(3) None of these
(4) Rs 900
Answer
Rs 1200