CA Foundation Exam  >  CA Foundation Questions  >  Where will you record interest on drawings?a)... Start Learning for Free
Where will you record interest on drawings?
  • a)
    Debit side of Profit & Loss Appropriation Account
  • b)
    Credit side of Profit & Loss Appropriation Account
  • c)
    Credit side of Profit & Loss Account 
  • d)
    Debit side of Capital/ Current Account only
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
Where will you record interest on drawings?a)Debit side of Profit &...
The double effect of interest on Drawings is:
1. It is credited to the Profit & Loss Account.
View all questions of this test
Most Upvoted Answer
Where will you record interest on drawings?a)Debit side of Profit &...
Interest on drawings will be shown on the credit side of the profit and loss appropriation account. Interest on drawings is the interest charged by the firm on the drawings made by the partners. It is a source of income for the firm and hence, it is to be credited to profit and loss appropriation account.
Free Test
Community Answer
Where will you record interest on drawings?a)Debit side of Profit &...
B
Explore Courses for CA Foundation exam
Where will you record interest on drawings?a)Debit side of Profit & Loss Appropriation Accountb)Credit side of Profit & Loss Appropriation Accountc)Credit side of Profit & Loss Accountd)Debit side of Capital/ Current Account onlyCorrect answer is option 'B'. Can you explain this answer?
Question Description
Where will you record interest on drawings?a)Debit side of Profit & Loss Appropriation Accountb)Credit side of Profit & Loss Appropriation Accountc)Credit side of Profit & Loss Accountd)Debit side of Capital/ Current Account onlyCorrect answer is option 'B'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Where will you record interest on drawings?a)Debit side of Profit & Loss Appropriation Accountb)Credit side of Profit & Loss Appropriation Accountc)Credit side of Profit & Loss Accountd)Debit side of Capital/ Current Account onlyCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Where will you record interest on drawings?a)Debit side of Profit & Loss Appropriation Accountb)Credit side of Profit & Loss Appropriation Accountc)Credit side of Profit & Loss Accountd)Debit side of Capital/ Current Account onlyCorrect answer is option 'B'. Can you explain this answer?.
Solutions for Where will you record interest on drawings?a)Debit side of Profit & Loss Appropriation Accountb)Credit side of Profit & Loss Appropriation Accountc)Credit side of Profit & Loss Accountd)Debit side of Capital/ Current Account onlyCorrect answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of Where will you record interest on drawings?a)Debit side of Profit & Loss Appropriation Accountb)Credit side of Profit & Loss Appropriation Accountc)Credit side of Profit & Loss Accountd)Debit side of Capital/ Current Account onlyCorrect answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Where will you record interest on drawings?a)Debit side of Profit & Loss Appropriation Accountb)Credit side of Profit & Loss Appropriation Accountc)Credit side of Profit & Loss Accountd)Debit side of Capital/ Current Account onlyCorrect answer is option 'B'. Can you explain this answer?, a detailed solution for Where will you record interest on drawings?a)Debit side of Profit & Loss Appropriation Accountb)Credit side of Profit & Loss Appropriation Accountc)Credit side of Profit & Loss Accountd)Debit side of Capital/ Current Account onlyCorrect answer is option 'B'. Can you explain this answer? has been provided alongside types of Where will you record interest on drawings?a)Debit side of Profit & Loss Appropriation Accountb)Credit side of Profit & Loss Appropriation Accountc)Credit side of Profit & Loss Accountd)Debit side of Capital/ Current Account onlyCorrect answer is option 'B'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Where will you record interest on drawings?a)Debit side of Profit & Loss Appropriation Accountb)Credit side of Profit & Loss Appropriation Accountc)Credit side of Profit & Loss Accountd)Debit side of Capital/ Current Account onlyCorrect answer is option 'B'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
Explore Courses for CA Foundation exam

Top Courses for CA Foundation

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev