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A and Bstartedbusiness on 1stapril2018 withcapialsOf Rs. 6,00,000and Rs. 4,00,000 respectivelyDuringthe year,AintroducedRs. 1,00,000 asaddditionalon 1stOctober,2018theywithdrew Rs. 50,000 permonth againstProfits interestOn capital isto beallowed@ 10%Per Annum .
Calculate interestpayableto Aand BFor theyearended31st March , 2019.

Class 12 Accounts in Class 12 3 years ago

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Solution :`{:( " interest on A 's capitals:",,Rs),("interest on Rs.. 1.00.000 for one year",Rs.6.00.000xx10//100,60.000),("interest n Rs. 1.00.000 for 6 months: ",Rs. 1.00.000xx6//12xx10//100,5.000),("(from 1astOctber , 2018 to 31ST March2018 to 31st MARCH ,2019)",,),(,,UNDERLINE overline(65.000)),("interest : on B's capital: ",,),("intereston Rs. 4.00.000 foroneyear:",Rs.4.00.000xx10//100,Rs.40.000):}`
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Posted on 04 Dec 2021, this text provides information on Class 12 related to Accounts in Class 12. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.

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