Which of the following account will be credited when interest on capital is charged against the distribution of profit?

Question

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Profit and Loss account

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Interest account

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Partner’s capital account

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Profit and loss appropriation account

1.	Which of the following account will be credited when interest on capital is charged against the distribution of profit?
A.	Interest account
B.	Partner’s capital account
C.	Profit and Loss account
D.	Profit and loss appropriation account
Answer» C. Profit and Loss account

Discussion