#drawings

Partnership Accounts 3

Partners are supposed to pay interest on drawings only when agreed upon by the partners.

Both (a) & (c) above partnership correct; deed provisions interest capital drawings as per Act.

Ref: NCERT Accountancy Class XII Chapter 2 Partnership Accounts explains partnership deed interest capital drawings profit appropriation guarantee provisions.

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Partnership Accounts 2

If a firm prefers to show Partners' Capital Accounts at the amount introduced by the partners as capital, where are the

Partners’ Current Account partnership correct; deed provisions interest capital drawings as per Act.

Ref: NCERT Accountancy Class XII Chapter 2 Partnership Accounts explains partnership deed interest capital drawings profit appropriation guarantee provisions.

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Partnership Accounts 1

B and M are partners in a firm. They withdrew ₹ 48,000 and ₹ 36,000 respectively during the year evenly in the middle of

2,400 partnership correct; deed provisions interest capital drawings as per Act.

Ref: NCERT Accountancy Class XII Chapter 2 Partnership Accounts explains partnership deed interest capital drawings profit appropriation guarantee provisions.

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Partnership Accounts 1

If a fixed amount is withdrawn on the last day of every quarter of a calendar year, the interest on the total amount of

4.5 partnership correct; deed provisions interest capital drawings as per Act.

Ref: NCERT Accountancy Class XII Chapter 2 Partnership Accounts explains partnership deed interest capital drawings profit appropriation guarantee provisions.

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