what is interest on drawings

Answer Posted / 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



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

Queries for Big4 Articleship : Whether son of CA in practice effects chances.

6503


Since the interest rates on fixed deposits are very low as compared to the other growth oriented investment options, what are the permitted investment options that a public trust like that of a private school or small credit societies have and which are permitted by charity commissioner, Mumbai

1495


When is proposed divided a current Liability and when is it non-current liability? Why is it in the list of Current Capital Accounts?

1765


What is functional area,trading partner in sap fico

1567


Plz Give the Inventry Accounting Procedure 1.Domestic Purchases ( VAT,CST,& Excise) 2.Import Purchases ( Direct Expences & Excise ) 3.When Will the Price Diffrence Entry Happen? 4.Cash Discount & Trade Discount On Purchases? 5.Domestic Sales ( VAT,CST,& Excise) 6.Export Sales ( Customes ,Excise ) 7.Cash Discount & Trade Discount On Sales?

2824






Expand------ARN

2021


can u let me know how the bankers calculate interest on O.D.account

1495


A specially designed interview book on interviews for accounting Jobs . Pl send your mail addresses for despatch

3055


please answer this question.the following balances were extracted from the books of modern traders on 31st dec,2010.capital(85000)fixed assets(45000)stock1-1-2010(15000)sundry debtors(20600)productive exp(3300)reserves fund(6600)discount received(800)cash in hand(6200)drawing(5000)accomulated dep.(9000)purchases(82000)bad debts(400)unproductive exp.(27400)sundry creditors(9000)sales(120000)cash at bank(25500).adjustments.stock on 31-12-2010(15000).outstanding wages (5000) write-off (600)of further bad debts. create provision for bad & doubtful debts at {5%) on debtors.unproductive expenses includes anitem of prepaid insurance (100).provide depreciation on original cost of fixed assets @ (10%).

1920


Ledger Is The Principle Book Of Accounts In Business. Do You Agree For It. Comment On Your Confirmation?

1662


if a person join company on 01-04-04. after 5 year he is resigned on 31-03-09 and date of leaving is 14-04-09. Is he is on under gratuity payable or not? he is completed 5 years on 31-03-09. what is basis on calcultion on final settlement is date of resignation or date of leaving whcih is on 14-04-09.

1449


what is ZBA hold & balance hold in banking?

1797


what is audit mean? what is vouching? how to finalize the account? what is the meaning of + cast < as per last year auditor’s a/c ^ as per ledger JV journal voucher PV payment voucher AJV authorised journal voucher APV authorised journal voucher RV receiving voucher PCV petty cash voucher CPV cash payment voucher DN debit note DO delivery order PO purchases order CN credit note PS policy schedule RPS renewal policy schedule B bill Cx cross check nCx cannot cross check CB cash bill L list/letter SRF stock requisition form R report OR office report INV invoice DS deposit slip AB assessment bill Re receipt ECF entertainment claim form ATRF air ticket requisition form

3587


what is payment method?How many payment method we can assign to company code.

1236


Assets are held in the Business for the purpose of____________________

1762