Question
Accountancy Question on Partnership Accounts
| Match List-I with List-IIList-I | List-II |
|---|---|
| (A) Salary to partner | (I) Credit side of Partners Capital Account |
| (B) Interest on partners loan | (II) Debit side of Partners Current Account |
| (C) Interest on partners drawings | (III) Debit side of Profit and Loss Account |
| (D) Additional capital introduced | (IV) Credit side of Partners Current Account |
Choose the correct answer from the options given below:
A
(A) - (I), (B) - (II), (C) - (III), (D) - (IV)
B
(A) - (I), (B) - (III), (C) - (II), (D) - (IV)
C
(A) - (IV), (B) - (III), (C) - (II), (D) - (I)
D
(A) - (III), (B) - (IV), (C) - (I), (D) - (II)
Answer
(A) - (I), (B) - (II), (C) - (III), (D) - (IV)
Explanation
Solution
The correct match for these items related to partner’s salary, loan, and capital is reflected as Option 1.