Math, asked by MADMAX7, 10 months ago

concept of interest on capital​

Answers

Answered by swati4678
6

Here is your answer

Interest on capital is an expense to the firm and is debited to the profit and loss appropriation account. Interest is payable to the partners and hence, the partner's capital account is credited with the amount of interest. In case of loss, no interest will be allowed on capital.

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Answered by Anonymous
2

Answer:

Time based concept......... Calculated on opening balance

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