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In our adjustment topic always we used to put interest on capital as a credit but some times we put debit also but in which condition can you please tell me ?
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In our adjustment topic always we used to put interest on capital as a...
I got the answer.... when in question the is no provision is given the interest on capita will be debit and any provision like - omission , undercasted, overcasted etc is given the it will be treated as credit.... 😊
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In our adjustment topic always we used to put interest on capital as a...
Interest on capital will be credited in PARTNER'S CAPITAL/CURRENT A/Cs....& interest on capital will be debited in FIRM'S A/Cs
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In our adjustment topic always we used to put interest on capital as a credit but some times we put debit also but in which condition can you please tell me ?
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