Question : Rent paid to a partner is debited to:
Option 1: Partner's Capital A/c
Option 2: Profit and Loss A/c
Option 3: Profit and Loss Appropriation A/c
Option 4: Partner's Current A/c
Answer (1)
24th Jan, 2024
Correct Answer: Profit and Loss A/c
Solution : Rent is paid to be debited to Profit and Loss A/c because it is a loss and charge against profit. Hence, the correct option is 2.
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