Accountancy, asked by sahilraturi01, 9 months ago

PLZ ANSWER this QUESTION and Write the reason for each entry PLEASE

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Answered by rajnandanibgp11
1

Answer:

Plz give question properly.

Explanation:

Not able to see clearly your questions .

Answered by 286276
0

Case 1 : No journal entry.

              Bces if the partnership deed is silent about Interest on Capital, no interest will be given

Case 2: No journal entry

            Though rate of I.O.C is mentioned in the P.D, no interest is given as the firm is in loss.

Case 3: Interest on Capital A/c          Dr      1260

                     To Partner's Capital A/c                   1260

            I.O.C is charged out of profit. (21000 x 6%)

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