Question

1 X and Y are partners and they had 90,000 and 1,35,000 in their respective capital accounts as
on January 1, 2019. X paid in further * 11,250 on July 1, 2019, and 18,000 on September 15,
2019. X withdraws * 22,500 from his capital on November 1, 2019. Calculate interest on Capital
to be allowed to X assuming that rate of interest to be 8% per annum.​

Answer 1

Answer:

interest on Capital to be allowed to X on 31 march 2019.

= 90,000 × 8/100 + 11,250 × 8/100 × 6/12 + 18,000 × 8/100 × 3.5/12 - 22,500 × 8/100 × 1/12

= 7,200 + 450 + 420 - 150

= 7,920

interest on Capital to be allowed to X is 7,920

Answer 2

Answer:

Explanation:

7770