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Karishma and Sheena contributed 40000 and …

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Karishma and Sheena contributed 40000 and 20000 respectively. They decide to allow interest on capital @ 6% per annum their respective share of profit is 2:3 and the profit (before interest) for the year is 3000. This profit has been credited to their accounts show the amount of interest allowed to each partner . (1).where their is no agreement except for interest on capitals . (2).where their is a clear agreement that the interest on capital will be allowed even if it involves the firm in loss.

Posted by Prabhleen Kaur 1 year ago

CBSE > Class 12 > Accountancy

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