CUET Accountancy - Correct Journal entry for transferring interest on capital to Profit and Loss Appropriation Account is- | PYQs + Solutions

CUET Accountancy 2025 27 May Shift 1

Partnership

Easy

common

Profit and Loss Appropriation A/c Dr. To Interest on Capital A/c

Interest on Capital A/c Dr. To Partner's Capital/Current A/cs

Interest on Capital A/c Dr. To Profit and Loss Appropriation A/c

Partners Capital/Current A/c's Dr. To Interest on Capital A/c

✅ Correct Option: 1

Related questions:

30 May Shift 2

Aashish withdrew Rs. 10,000 per month from the firm for his personal use during the year ending March 31, 2017. What will be the amount of interest if the amount is withdrawn at the beginning of each month and rate of interest on drawings is 8% per annum?

24 May Shift 1

Which of the following is NOT a feature of partnership?

27 May Shift 1

Which of the following statements results in the reconstitution of a partnership firm :-

(A) Change in profit sharing ratio among partners.

(B) Admission of a new partner.

(D) Dissolution of a partnership.

Choose the correct answer from the options given below:

(A), (B) and (C) only
(A), (B) and (D) only
(A), (B), (C) and (D)
(B), (C) and (D) only

CUET Accountancy 2025 27 May Shift 1 PYQs

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