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(Calculation of capital in the begining). …

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(Calculation of capital in the begining). A and B are partners in a buisness there capitals at the year end were 48,000 rupess and 36,000 rupess respectively. During the year ended 31st march, 2016. A's drawings and B's were 8,000 rupess and 12,000 rupess respectively. Profits (before charging interest on capital) during the year were 32,000 rupess. Calculate interest on capital @ 5% per annum for the year ended 31st march, 2016.

Posted by Mayank Sahay 3 years, 9 months ago

CBSE > Class 12 > Accountancy

1 answers

Ritesh Kumar Gupta 3 years, 8 months ago

Closing capital Add Drawing minus share of profit in this question profit sharing ratio is not given so we will assume it is 1:1 A's opening capital is 48000+8000-16000=40000 and its int on capital is 2000

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