A, B and C are partners decided that no interest on drawings is to be charged to any partner. But after one year ‘C’ wants that interest on drawings should be charged to every partner. State how ‘C’ can do this. Post category:Accountancy Reading time:1 mins read SOLUTION He can only do this if it is consented by all partners (i.e., by altering partnership deed). Please Share This Share this content Opens in a new window Twitter Opens in a new window Facebook Opens in a new window Google+ Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostPadam and Virender were partners in a firm with no partnership deed. Their drawings during the year ended 31st March, 2015 amounted to Rs. 5,00,000 and Rs. 2,00,000 respectively. Virender was of the opinion that the firm should drawings @ 6% p.a. However, Padam disagreed to it. Padam convinced Virender that interest cannot be charged on drawings. What argument must have been put forward by Padam that convinced Virender? Next PostWould a ‘charitable dispensary’ run by 8 members be deemed a partnership firm? Give reason in support of your answer. You Might Also Like Pass Journal entries for the following: (a) Realisation expenses of Rs. 15,000 were to be met by Rahul, a partner, but were paid by the firm.(b) Ramesh, a partner, was paid remuneration of Rs. 25,000 and he was to meet all expenses. (c) Anuj, a partner, was paid remuneration of Rs. 20,000 and he was to meet all expenses. Firm paid an expense of Rs. 5,000. July 25, 2022 What does proprietary ratio indicate? October 1, 2022 What are the two types of shares which a Company can issue? September 28, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.