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On March 31 2016 after the …

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On March 31 2016 after the close of account, the capital of mountain, hill and rock stood in the books of firms at rs.400000;rs300000 and rs.200000 respectively. Subsequent it was discovered that the interest on capital @10% p.a had been omitted. The profit for the year amounted to rs.150000 and the partner's drawing had been mountain rs.20000; hill rs.15000; and Rock rs.10000. Calculate interest on capital.

Posted by Manjeet Gupta 8 years, 2 months ago

CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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