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Sita and Gita are partners in …

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Sita and Gita are partners in a firm. Balances of their capital accounts as on 1st April, 2018 were as follows; Sita Rs. 40,000 and Gita Rs 30,000. Sita introduced Rs. 5000 as an additional capital on 1st October 2018 and Gita introduced Rs. 7,500 as additional capital on 1st November, 2018. Sita drew capital amounting to Rs. 7,500 on 1 st January 2019and Gita withdrew capital amounting Rs. 2,500on 1st February, 2019. They have further agreed to allow interest on capital @12%p.a. books of the accounts of the firm are to be closed on 31st march 2019. Calculate interest to be allowed on partner’s capital.

Posted by Aryan Gupta 1 year, 5 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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