:: Home Page            
 Advertise your Business Here     
Browse  |   Placement Papers  |   Company  |   Code Snippets  |   Certifications  |   Visa Questions
Post Question  |   Post Answer  |   My Panel  |   Search  |   Articles  |   Topics  |   ERRORS new
   Refer this Site  Refer This Site to Your Friends  Site Map  Bookmark this Site  Set it as your HomePage  Contact Us     Login  |  Sign Up                      
Categories >> Accounting >> Accounting AllOther


 Audit interview questions  Audit Interview Questions (427)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (158)
 Taxation interview questions  Taxation Interview Questions (1897)
 Accounting General interview questions  Accounting General Interview Questions (2807)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4359)
what is interest on drawings
 Question Submitted By :: Accounting-AllOther
I also faced this Question!!     Answer Posted By  
# 1
Drawing are the amounts thru cash or goods which are
withdrawn by the partners from the Firm.Interest on
drawings will be charged at a reasonable rate as mutually
understood by the partners and will be added to the profit
of the business.Drawings along with interest on that will
be deducted from the capital and will be shown clearly in
the Balance Sheet
Is This Answer Correct ?    35 Yes 7 No
# 2
drawings are the amount taken by the parteners for personal
use from the firm account. that will be less from the
capial of patners. the inerest charged by firm on amount
taken by the partners for personal use is called interest
on drawings. which is a profit so it will be deposit in
firm account
Is This Answer Correct ?    23 Yes 6 No
Prashant Gautam
# 3
drawings means the goods taken by the propriter for hi domestic[personal] may be in form of cash goods etc.we have to subtract intrest on drawings frm is the amount which is charged by firm on amount taken by propriter 
Is This Answer Correct ?    9 Yes 2 No
# 4
Never intrest calculated on Drawing. bcos once any partner
invest As a Capital the profit is income.
Is This Answer Correct ?    6 Yes 25 No

Other Accounting AllOther Interview Questions
  Question Asked @ Answers
why stock market goes to bearish mode when RBI hikes CRR rates? UBS 1
What is private placement in Equity market ? Bank-Of-America 4
what is bank pass book statement   2
Expand I P   2
Difference between funds flow statement & Cash flow statement Capital-IQ 3
what are the type of t.d.s. entries ? Wipro 3
what is capex FactSet 5
Please help in payroll accounting in tally 9.0, by all means and all things in it (Ex:creation of pay heads, employyes groups, etc and other things which are necessary for payroll accounting). ABC 5
Expand---------BCDE   1
how to introduce ourself Kamkuo 14
How do I raise a debit note   1
For more Accounting AllOther Interview Questions Click Here 

Copyright Policy  |  Terms of Service  |  Articles  |  Site Map  |  RSS Site Map  |  Contact Us
Copyright 2013  All Rights Reserved.   ::