why is interest on drawings is deducted from capital in balance sheet?
Answers
Answered by
2
Answer:
The amount of interest charged on drawings is an indirect income of the business and on the other hand, it is a personal expense of the owner. ... On the other hand, it is a personal expense of the owner, therefore; it will be added in the Drawings Account in Balance Sheet and ultimately will be deducted from the Capital.
Answered by
1
Answer:
thnx bhai❤️
Explanation:
I'm fine☺️
wbu Bhai?
btw ur name...I think Rahul right?
Similar questions