Accounting for ...

How would you close the Partner's Drawings Account? 

Following are the differences between partnership & joint venture except __________. 

Following are the essential elements of a partnership firm except _____________.

Balance in revaluation account is transferred to old partners in ________________.

The name under which the business of partnership is carried on is called _________.

Is rent paid to a partner an appropriation of profits?

To avoid misunderstanding between the partners, the partners need  _________________.

A partner was supposed to contribute Rs.50,000 in a partnership firm. He gave Rs.80,000 to the firm. How much interest he will get on the extra money he contributed to the firm above his agreed share in the firm.

One of the partner contributed Rs.30,000 in the firm. How much interest he will get on the capital contributed?

Partnership business in India is governed by India Partnership Act of ____________.