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(Interest on capital when closing capital …

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(Interest on capital when closing capital is given) A and B are partners sharing profits and losses in the ratio 4: 3. Their capital on 31st December, 2022 were 3,00,000 and 2,00,000 respectively. During the year, their drawings were 50,000 each. The firm earned profit amounting to 70,000 for the year ending 31st December, 2021. Later on they decided that interest on their capital be charged at 10% p.a. Compute interest on Capital.

    • Posted by Saksham Aryan 1 week, 5 days ago

    CBSE > Class 12 > Accountancy
    • 0 answers
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    Posted by Prachi Yadav 5 days, 3 hours ago

    CBSE > Class 12 > Accountancy
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    On 1st April, 2015 X, y and X started a business in partnership. X contribute rupees 90,000 at first but withdraws rupees 30,000at the end of six months. Y introduces rupees 75,000 at first and increases it to rupees 90,000 at the end of four months, but withdraws it by rupee 60,000 at end of seven months. During the year ended 31st March 2016, they make a net profit of rupees 42,000. Show how the partners should divided this amount on the basis of effective capital employed by each partner.

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    CBSE > Class 12 > Accountancy
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    This content has been hidden. One or more users have flagged this content as inappropriate. Once content is flagged, it is hidden from users and is reviewed by myCBSEguide team against our Community Guidelines. If content is found in violation, the user posting this content will be banned for 30 days from using Homework help section. Suspended users will receive error while adding question or answer. Question comments have also been disabled. Read community guidelines at https://mycbseguide.com/community-guidelines.html

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    CBSE > Class 12 > Accountancy
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    CBSE > Class 12 > Accountancy
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    CBSE > Class 12 > Accountancy
    • 0 answers
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    CBSE > Class 12 > Accountancy
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