The document lists accounting principles related to interest on capital and drawings, depreciation, partnership accounts, goodwill, and company financing. Specifically, it notes that interest on capital is debited to the profit and loss account, depreciation is debited to the depreciation account which is then closed to profit and loss, and partnerships may use fixed or fluctuating capital accounting methods.
The document lists accounting principles related to interest on capital and drawings, depreciation, partnership accounts, goodwill, and company financing. Specifically, it notes that interest on capital is debited to the profit and loss account, depreciation is debited to the depreciation account which is then closed to profit and loss, and partnerships may use fixed or fluctuating capital accounting methods.
Copyright:
Attribution Non-Commercial (BY-NC)
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Download as DOC, PDF, TXT or read online from Scribd
The document lists accounting principles related to interest on capital and drawings, depreciation, partnership accounts, goodwill, and company financing. Specifically, it notes that interest on capital is debited to the profit and loss account, depreciation is debited to the depreciation account which is then closed to profit and loss, and partnerships may use fixed or fluctuating capital accounting methods.
Copyright:
Attribution Non-Commercial (BY-NC)
Available Formats
Download as DOC, PDF, TXT or read online from Scribd