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interest on capital Related: Key Notes - Accounting for partnership f...
Interest on capital is an expense to the firm and is debited to the profit and loss appropriation account. Interest is payable to the partners and hence, the partner's capital account is credited with the amount of interest. In case of loss, no interest will be allowed on capital.
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interest on capital Related: Key Notes - Accounting for partnership firms: Fundamentals?
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interest on capital Related: Key Notes - Accounting for partnership firms: Fundamentals? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about interest on capital Related: Key Notes - Accounting for partnership firms: Fundamentals? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for interest on capital Related: Key Notes - Accounting for partnership firms: Fundamentals?.
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