CameraIcon

SearchIcon

MyQuestionIcon

6

You visited us 6 times! Enjoying our articles? Unlock Full Access!

Settlement with the Executor

The interest ...

Question

The interest on the capital accounts of partners is credited to

A

(a) Interest A/C

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

(b) Profit and Loss A/C

No worries! We‘ve got your back. Try BYJU‘S free classes today!

C

(c) Partner’s Capital A/C

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

D

(d) None of the above

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C
(c) Partner’s Capital A/C

Answer: (c) Partner’s Capital A/C

Suggest Corrections

thumbs-up

0

Similar questions

Q. The interest on partners capital accounts is to be credited to _______________.

Q. When the Interest on capital is allowed to partners, Interest on Capital Account is debited and Partner's Capital Account is credited. It is called _____________.

Q. If interest on capital, salary to the partner and share of profit are credited while interest on drawings, drawings and share of loss are debited to the Partners' Capital Accounts, what is the method followed to maintain the Capital Accounts?

Q. When the Interest on drawings is charged to partners, Interest on Drawing Account is credited, and Partner's Capital Account is debited. It is called __________.

Under fluctuating capital account, the interest on capital is credited to ___

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Death during the Year

ACCOUNTANCY

Watch in App

explore_more_icon

Explore more

Settlement with the Executor

Standard XII Accountancy

Join BYJU'S Learning Program

CrossIcon