Question

where we have to place
interest on capital
in final accounts​

Answer 1

Answer:

Interest on Capital has the following two effects on final accounts: It is an expense of the business, therefore; it will be recorded on the debit side of Profit and Loss Account. On the other hand, it is an income of the owner, therefore; it will be added in the Capital Account in Balance Sheet

Explanation:

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Answer 2

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