Write the difference between Drawings against Capital and Drawings against Profit?
-Added by nisha sheikhAccountancy » Accounting For Partnership Firms: Fundamentals
Answer by: nisha sheikh
Drawings Against Capital
It is debited to Drawings Account.
It is debited to Capital Account.
It is a part of expected profit.
It is a part of capital.
It does not reduce capital.
It reduces capital.
4.Interest on Drawings
It is considerd for calculating interest on drawings.
It is not considerd for calculating interest on drawings.
5.Interest on Capital
It is not considerd for calculating interest on capital.
It is considerd for calculating interest on capital.
-Answered by nisha sheikh On 06 October 2020:12:51:21 PM(20845Average Rating Based on rating)
You can see here all the solutions of this question by various user for NCERT Solutions. We hope this try will help you in your study and performance.
This Solution may be usefull for your practice and CBSE Exams or All label exams of secondory examination. These solutions or answers are user based solution which may be or not may be by expert but you have to use this at your own understanding of your syllabus.