B has drawn Rs. 50,000 from the firm for his personal use during the year. Firm wants to charge 6% p.a. interest on this amount. Can the interest be charged, if partnership deed is silent in this matter? Post category:Accountancy Reading time:1 mins read SOLUTION Interest cannot be charged. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostA claims 6% p.a. interest on his capital. Is his claim valid if partnership deed is silent in this matter? Next PostRuchika and Surekha entered into partnership with capitals of Rs. 30,00.000 and Rs. 15,00,000 respectively. They did not enter into partnership deed. At the end of accounting year, Ruchika claimed interest on capital @6% p.a. but Surekha convinced Ruchika that interest cannot be allowed on capital. Explain how Surekha would have convinced Ruchika? You Might Also Like State two basis lor determination of Profits from the date oflast Balance Sheet to the date of death/retirement. September 27, 2022 Name any one line item that can be shown under the major heading “Equity and Liabilities” in a Company’s Balance Sheet. September 30, 2022 Give any two characteristics of debenture. September 29, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
State two basis lor determination of Profits from the date oflast Balance Sheet to the date of death/retirement. September 27, 2022
Name any one line item that can be shown under the major heading “Equity and Liabilities” in a Company’s Balance Sheet. September 30, 2022
