Accountancy, asked by adityasaran880, 19 days ago


47 for a partnership firm interest on capital is
a. an expense
b. an income
c. a loss
d. all of these

Answers

Answered by poojasumitshukla
0

Answer:

d all of these

Explanation:

Interest on capital is considered as an expense for the business and is added to the owner's capital, which increases the overall capital of the owner in the business and loss to business also

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Answered by rsscreation123
1

Explanation:

Interest on capital is another expense for a firm that is debited to the profit and loss appropriation account. Interest is thereby payable to the partners, for this the partner's capital account is credited with the amount of interest. In case of loss, no interest is to be served on capital. Capitalizing Interest.

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