CUET Accountancy - In case partner's capital is fixed, then where interest on drawings charged will be shown? | PYQs + Solutions

CUET Accountancy 2025 14 May Shift 1

Partnership

Easy

Debit side of partner's capital account

Credit side of partner's capital account

Debit side of partner's current account

Credit side of partner's current account

✅ Correct Option: 3

Related questions:

2 June Shift 2

The liability of partners is

3 June Shift 2

Match List-I with List-II

List-I	List-II
(A) Bank (fresh capital introduced)	(I) Debit side of Partner's Current Account
(B) Interest on drawings	(II) Debit side of Partner's Capital Account
(C) Bank (permanent withdrawal of capital)	(III) Credit side of Partner's Current Account
(D) Commission	(IV) Credit side of Partner's Capital Account

Choose the correct answer from the options given below:

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 What will be the amount of interest if the amount is withdrawn at the beginning of each month and rate of interest on drawings is 8% per annum?

CUET Accountancy 2025 14 May Shift 1 PYQs

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