INTEREST CHARGED @ 12% ON PARTNERS CURRENT ACCOUNT BALANCE AND INTEREST PAID TO PARTNERS CAPITAL @ 12% IS CORRECT WAY TO ACCOUNTING WE CAN CHARGE BOTH ANNUAL INTEREST ON EACH ACCOUNT.
another one simple query sir, wages paid to labours for, fill rice into the bags, loading and unloading rice bags, including paddy cleaning etc and factory current bill using more than 1 hp motors ,these expenses are direct or indirect expenses.
CAclubindia
