Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 12 Jul 2017 My Price 3.00

Tom and Harry

Tom and Harry were partners in a firm sharing profits in the ratio of 5 : 3. During the year ended 31.3.2015 Tom had withdrawn Rs 40,000. Interest on his drawings amounted to Rs 2,000. Pass necessary journal entry for charging interest on drawings assuming that the capitals of the partners were fluctuating.

Answers

Maurice Tutor
(5)
Status NEW Posted 12 Jul 2017 11:07 PM My Price 3.00

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