Accountancy, asked by bhatiashabbir2289, 1 year ago

treatment intrest allowed on capital in accousting equation

Answers

Answered by sachinarora2001

0

Journal entry of Interest on capital is..

Intrest on capital a/c dr.
To capital account...

First the main thing in this entry is that Capital can never be debit.. Bcx it is the liability of the business. So stay in mind that anything which is related to capital than capital account will be credited and never be debited..

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