Accountancy, asked by shakthi23, 8 months ago

interest on Capital is allowed only if the firm earns ... dash
during the year

Answers

Answered by ziggyzaheer24

Answer:

when the firm earns profit

Answered by Sheldonleecooper

Answer: Hey mate here you go

why interest on capital is charged on opening balance of capital? ... Interest on Capital is paid for the reason that proprietor has invested funds in the business and the business is using the funds to sustain. Accordingly, interest on capital is paid on the balance in partner's capital account.

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