In company final accounts interest received is treated as
Asked by admin @ in Accountancy viewed by 550 People
In company final accounts interest paid is treated as a
Asked by admin @ in Accountancy viewed by 550 People
In company final accounts interest paid is treated as a
Answered by admin @
Answer:
The amount of interest charged on capital is an indirect expense of the business and on the other hand, it is an income of the owner. Interest on Capital has the following two effects on final accounts: It is an expense of the business, therefore; it will be recorded on the debit side of Profit and Loss Account.
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