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12th Class Accountancy Fundamentals of Partnership Question Bank MCQs - Accounting for Partnership Firm - Fundamentals

  • question_answer
    A, B and C are partners sharing profits in the ratio of 1 : 2 : 3 with a capital of Rs.5,00,000 each. On 01.08.2020 Mr. A introduce an additional capital of Rs.1,00,000 and on 30.09.2021 Mr. A withdrew the amount of additional capital, interest on capital is to be allowed @ 12% p.a. Interest on capital of Mr. A Rs. _____ is to be shown in the ______ side of partners' capital account:

    A) 62,000 / Credit side

    B) 62,000 / Debit side

    C) 60,000 / Credit side

    D) 60.000/ Debit side

    Correct Answer: A

    Solution :

    62,000 / Credit side


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