7) Which one of the following is a gain to the partnership firm?a.Interest on drawingsb.Interest on loan from bankc.Interest on capitald.Withdrawal of capital

Solution: "Interest on drawings" is a gain to the partnership firm.

Answered: Which one of the following is a gain to…

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Which one of the following is a gain to the partnership firm? a. Interest on drawings b.

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter23: Accounting For Partnerships

Section23.2: Distribution Of Net Income And Owners’ Equity Statements

Problem 2AYU

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7) Which one of the following is a gain to the partnership firm?

Interest on drawings

Interest on loan from bank

Interest on capital

Withdrawal of capital

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