Question

interest on partners loan is to be treated as what​

Answer 1

Answer:

Interest on partners' loan is a charge against profit, that is, whether there is profit or loss for the firm, this interest is to be provided. Hence, interest on partners' loan is transferred to profit and loss account

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Answer 2

Answer:

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Explanation:

Tutorial note: Interest on partners' loan is a charge against profit, that is, whether there is profit or loss for the firm, this interest is to be provided. Hence, interest on partners' loan is transferred to profit and loss account.

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