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Why interset on drawing is debited to partner's capital account and credited to profit/loss appropriation account?
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Why interset on drawing is debited to partner's capital account and cr...
Interest on drawings(against profit)is an income for the firm and hence it is credited to pnl appropriation a/c while on the other hand as it is a loss for the partners and  is debited to his capital a/c(IN CASE OF FLUCTUATING CAPITAL) or current a/c(IN CASE OF FIXED CAPITAL)
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Why interset on drawing is debited to partner's capital account and credited to profit/loss appropriation account?
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Why interset on drawing is debited to partner's capital account and credited to profit/loss appropriation account? for Commerce 2025 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Why interset on drawing is debited to partner's capital account and credited to profit/loss appropriation account? covers all topics & solutions for Commerce 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Why interset on drawing is debited to partner's capital account and credited to profit/loss appropriation account?.
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