Give two items which may appear on the debit side of Partner’s Current Account. (Delhi and AI 2018 C) Post category:Accountancy Reading time:1 mins read SOLUTION (i) Drawings, (ii) Interest on Drawings. 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 PostWhy does the Fixed Capital Account of partners show credit balance even when the firm suffers losses year after year? (CBSE 2020) Next PostIn case the partners’ capitals are fixed, in which account withdrawal of capital is recorded? (C.B.S.E. 2020) You Might Also Like Ashok, Bhim and Chetan are sharing profits and losses in the ratio of 5: 3: 2. With effect from 1st April, 2022, they decide to share profits and losses in the ratio of 5: 2: 3. Calculate each partner’s gain or sacrifice due to the change in ratio. October 18, 2022 A and B are partners sharing profits equally. A drew regularly Rs. 4,000 at the end of every month for six months ended 30th September, 2019. Calculate interest on drawings @ 5% p.a. for a period of six months. July 21, 2022 How will you assess the liquidity or short-term financial position of a business? October 3, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Ashok, Bhim and Chetan are sharing profits and losses in the ratio of 5: 3: 2. With effect from 1st April, 2022, they decide to share profits and losses in the ratio of 5: 2: 3. Calculate each partner’s gain or sacrifice due to the change in ratio. October 18, 2022
A and B are partners sharing profits equally. A drew regularly Rs. 4,000 at the end of every month for six months ended 30th September, 2019. Calculate interest on drawings @ 5% p.a. for a period of six months. July 21, 2022