ALLInterview.com :: 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                      
Google
   
 
Categories >> Accounting >> Accounting AllOther
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (159)
 Taxation interview questions  Taxation Interview Questions (1915)
 Accounting General interview questions  Accounting General Interview Questions (2842)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4376)
Question
what is interest on drawings
 Question Submitted By :: Accounting-AllOther
I also faced this Question!!     Answer Posted By  
 
Answer
# 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withdrawn by the partners from the Firm.Interest on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 ?    38 Yes 7 No
Satyaki_raju@yahoo.com
 
Answer
# 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 ?    25 Yes 6 No
Prashant Gautam
 
 
 
Answer
# 3
drawings means the goods taken by the propriter for hi domestic[personal] use.it may be in form of cash goods etc.we have to subtract intrest on drawings frm capital.it is the amount which is charged by firm on amount taken by propriter 
Is This Answer Correct ?    11 Yes 2 No
Ravi
 
Answer
# 4
Never intrest calculated on Drawing. bcos once any partner
invest As a Capital the profit is income.
 
Is This Answer Correct ?    6 Yes 28 No
Hemanshu
 

 
 
 
Other Accounting AllOther Interview Questions
 
  Question Asked @ Answers
 
I gave cash advance of Rs. 70000 to one our enginner at site. He submitted only bills of 69000. Please tell me, how I can write these transaction in the Day book.   11
what is income tax   3
What is the meaning of bank reconcilation statement (brs)??? HP 14
How to prepare salary ? and what is ctc, Epf, etc...   3
Distinguish between Piece rate and Time rate?   3
what is vat sett off? service tax?   2
What is Owner's Equity?   4
WHAT IS IDEAL DEBT-EQITY RATIO BPO 11
Expand ------NACo   1
EXPAND______________PDF   2
What is Petty Cash Book?   3
Expand---------BTR   3
 
For more Accounting AllOther Interview Questions Click Here 
 
 
 
 
 


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

ALLInterview.com   ::  KalAajKal.com