Question

Match List-I with List-II

List-I	List-II
(A) Salary to partner	(I) Credit side of Partners Capital Account
(B) Interest on partners loan	(II) Debit side of Partners Current Account
(C) Interest on partners drawings	(III) Debit side of Profit and Loss Account
(D) Additional capital introduced	(IV) Credit side of Partners Current Account

Choose the correct answer from the options given below:

• (A) - (I), (B) - (II), (C) - (III), (D) - (IV)
• (A) - (I), (B) - (III), (C) - (II), (D) - (IV)
• (A) - (IV), (B) - (III), (C) - (II), (D) - (I)
• (A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Answer 1

The Correct Option is A

List-I	List-II
(A) Salary to partner	(I) Credit side of Partners Capital Account
(B) Interest on partners loan	(II) Debit side of Partners Current Account
(C) Interest on partners drawings	(III) Debit side of Profit and Loss Account
(D) Additional capital introduced	(IV) Credit side of Partners Current Account

Matching List-I with List-II:

• (A) Salary to partner: This appropriation of profits increases partner equity, recorded on the Credit side of Partners Capital Account. Matches (I).
• (B) Interest on partners loan: This expense reduces income, recorded on the Debit side of Partners Current Account. Matches (II).
• (C) Interest on partners drawings: This firm gain is recorded as income on the Debit side of Profit and Loss Account. Matches (III).
• (D) Additional capital introduced: This transaction increases capital balance and is recorded on the Credit side of Partners Current Account. Matches (IV).

Correct matches: (A) - (I), (B) - (II), (C) - (III), (D) - (IV)