Question : Interest on partner's drawings is credited to:

Option 1: Profit and Loss A/c

Option 2: Profit and Loss Appropriation A/c

Option 3: Partner's Capital A/c

Option 4: Partner's Current Alc

Question : Which of the following items is not recorded in Profit and Loss Appropriation A/c?

Option 1: Interest on Partner's Capital

Option 2: Amount of Partner's drawings

Option 3: Profit as per Profit and Loss

Option 4: Commission to a partner

Question : Rent paid to a partner is debited to:

Option 1: Partner's Capital A/c

Option 2: Profit and Loss A/c

Option 3: Profit and Loss Appropriation A/c

Option 4: Partner's Current A/c

Question : In case of fixed capital, salary and commission payable to a partner will be recorded on the:

Option 1: Debit side of partner's Capital A/c

Option 2: Credit side of partner's Capital A/c

Option 3: Debit side of partner's Current A/c

Option 4: Credit side of partner's Current A/c

Question : The interest on Partner's Capital Accounts is to be credited to

Option 1: Profit and Loss A/c

Option 2: Interest A/c

Option 3: Partner's Capital A/c

Option 4: None of these