int on capital (journal entry)
Answers
Explanation:
Interest on capital is an expense for the business and is added to the capital of the proprietor thereby increasing his total capital in the business.
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Accounting and Journal Entry for Interest on Capital.
Interest on Capital A/c Debit Debit the increase in expense
To Capital A/c Credit Credit the increase in capital
Contributed capital is an element of the total amount of equity recorded by an organization. ... When an investor pays a company for shares of its stock, the typical journal entry is for the company to debit the cash account for the amount of cash received and to credit the contributed capital account.
Answer:
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