Accountancy, asked by bublu8244, 11 months ago

Short note on interest on partners capital

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Answered by gajendrabishnoi5529
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Interest on Capital. ... 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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