Which of the following is the incorrect pair?
A. Interest on drawings – Debited to capital account
B. Interest on capital – Credited to capital account
C. Interest on loan – Debited to capital account
D. Share of profit – Credited to capital account
Answer:C
Which of the following is the incorrect pair?
A. Interest on drawings – Debited to capital account B. Interest on capital – Credited to capital account C. Interest on loan – Debited to capital account D. Share of profit – Credited to capital account