#interest on capital

Partnership Accounts 3

Interest on partners' capital is considered:

An appropriation 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 3

If there is no partnership deed, then interest on capital will be charged at which rate per annum?

Partnership deed includes firm name, partners names, commencement date, profit sharing ratio.

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 2

Interest on capital will be paid to the partners if provided for in the agreement but only from______.

Current Profits 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

Directions For Questions Directions: Read the following case study and answer questions on the basis of the same. Sam an

Partnership deed includes firm name, partners names, commencement date, profit sharing ratio.

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

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