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 : 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 : Which of the following is not recorded on the credit side of current accounts of partners?

Option 1: Interest on capital

Option 2: Partner's Salary

Option 3: Interest on partner's loan

Option 4: Share of profits to partner

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 : 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