Question

the interest on capital account of partners under the fluctuating capital account method is credited to-

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Answer 1

Explanation:

Fluctuating capital method

This account is credited with initial and additional capital introduced by the partner, interest on capital, partner's salary or commission and share of profit of the partner. The account is debited with capital withdrawn, drawings, interest on drawings and share of loss of the partner.

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Answer 2

Answer:

Partner's Capital Account

Explanation:

A capital account that changes or fluctuates each time capital is added or removed is one with fluctuating capital. The debit side shows interest on draws, while the credit side shows interest on capital, profit, salary, and commission.

The capital account for each partner is the only account kept under the fluctuating capital technique. The capital account itself keeps track of all adjustments pertaining to withdrawals, capital interest, capital interest on withdrawals, salaries, and share of profit or loss. As a result, there is constant fluctuation in the capital account balance.

The capital accounts of the partners should be made using this procedure in the absence of any instructions.

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