Interested to Buy Any Domain ? << Click Here >> for more details...
what is interest on drawings
- 5 Answers
- 31819 Views
- Cognizant, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / satyaki_raju@yahoo.com
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withdrawn by the partners from the Firm.Interest on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 ? | 53 Yes | 10 No |
Answer / prashant gautam
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 ? | 36 Yes | 9 No |
Answer / ravi
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 ? | 15 Yes | 4 No |
Answer / muhammad yahya
drawing means, an amount taken away by owner or partner of business for personal use... and he will pay further charges which is called interest on drawings... it is a other income of business and expense of partner... because he is paying further income...
when we take loans from bank then return to bank with interest,,, similarly that above i have mentioned...
| Is This Answer Correct ? | 3 Yes | 3 No |
Answer / hemanshu
Never intrest calculated on Drawing. bcos once any partner
invest As a Capital the profit is income.
| Is This Answer Correct ? | 9 Yes | 34 No |
How is the expenditure of developing a modified product treated?
Hello, Can u tell me the procedure of Sale Tax Registration in Jharkhand. (VAT & CST )WITH Supporting Proof
What are accounting standards?
How to calculate salary structure( PF, ESI, Gratuity, CCA, HRA, etc)
Is it correct to covered fesibility report expenses and survey expenses in pre-operative exepenses ?
Can you please help me calculate the pre tax profit for credit card for 2014 using the following Assumptions. Request you to list the steps used. Charges Late fee £12 per occurrence Over limit fee £10 per occurrence Cash fees 3% of cash withdrawal value Annual Fee £25 per account, per year Interchange 1% of transaction value KPIs Accounts overdue 10% per month Accounts over limit 15% per month Average APR 30% Balances revolving 90% of balance Average balance £900 at end of 2013 Expected growth in average balance (2014) 10% per annum Assumptions Open accounts 200,000 at 2013 year-end New accounts booked 5,000 per month Annual operating cost £50 per open account Cost of Acquisition £50 per account Provision rate 9% of total balances Annual cost of funds 4% by balance Charge off Unit charge-off rate in 2014 11% of accounts at 2013 year-end Unit charge-off rate in 2014 0% of accounts booked in 2014 Post charge-off recoveries 20% of balance Account Transactions Monthly turnover 5% of total month end balances Cash advances 20% of monthly turnover Additional Assumptions Please state any additional assumptions you have made to calculate your answer Thanks in advance,
0 Answers Elevates Infosolution,
Expand-------SNAT
can any one tell me the Types of accounts in practise
what is J form in sales tax
WHAT ARE THE DIFFERENCE BETWEEN RESERVES AND PROVISIONS?
why would you like to opt nbp
what is waybill key number & how can it be issue?
Audit 
