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Solution - A and B Were Partners in a Firm Sharing Profits in the Ratio of 4:5. During the Year Ended 31-3-2015 a Withdrew Rs.19,000. Interest on A'S Drawings Was Rs.700. - Methods of Capital Accounts - Fixed and Fluctuating Capital Method

ConceptMethods of Capital Accounts - Fixed and Fluctuating Capital Method

Question

A and B were partners in a firm sharing profits in the ratio of 4:5. During the year ended 31-3-2015 A withdrew Rs.19,000. Interest on A's drawings was Rs.700.

Pass necessary Journal entry for charging interest on A's drawings assuming that the capitals of the partners were fixed.

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Solution for question: A and B Were Partners in a Firm Sharing Profits in the Ratio of 4:5. During the Year Ended 31-3-2015 a Withdrew Rs.19,000. Interest on A'S Drawings Was Rs.700. concept: Methods of Capital Accounts - Fixed and Fluctuating Capital Method. For the courses CBSE (Arts), CBSE (Commerce), CBSE (Science)
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