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x introduced 100000 in a business on 01.02.15 and Y introduced 200000 in business if the rate of itrest is 10% per annum calculate IOC and pass journal entery from above transactions

Posted by Shubham Pandey 5 years, 6 months ago

CBSE > Class 12 > Accountancy

1 answers

Pranav Kumar 5 years, 6 months ago

☆IOC or ''intrest on capital'' of X's will be 10000 and Y's will be 20000 JOURNAL ENTERY OF X's and Y's: Cash a/c..... dr. 100000 To capital. 110000 (Being 100000 introduce in business) Cash a/c..... dr. 200000 To capital. 200000 (Being 200000 introduce in business)

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