Question

41. Rakesh retired from the firm. The amount due to him was determined at 290,000. It was decided to pay
the due amount as follows:
On the date of retirement- 30,000
Balance in three yearly instalments-First two instalments being of 26,000, including interest: and
Balance amount as last instalment.
Interest was payable @ 10% p.a. Prepare Retiring Partner's Loan Account.​

Answer 1

Answer:

mark its brainleast plzzz

Explanation:

This discussion on Rakesh retired from the firm the amount due to him was determined at 900 it was decided to pay the due amount as follows on the date of retirement 30,000 balance in 3 yearly instalments first 2 installments being of 26000 including interest and balance amount as last installment interest was payable@ 10% pa prepare loan a/c? is done on EduRev Study Group by Commerce Students. The Questions and Answers of Rakesh retired from the firm the amount due to him was determined at 900 it was decided to pay the due amount as follows on the date of retirement 30,000 balance in 3 yearly instalments first 2 installments being of 26000 including interest and balance amount as last installment interest was payable@ 10% pa prepare loan a/c? are solved by group of students and teacher of Commerce, which is also the largest student community of Commerce. If the answer is not available please wait for a while and a community member will probably answer this soon. You can study other questions, MCQs, videos and tests for Commerce on EduRev and even discuss your questions like Rakesh retired from the firm the amount due to him was determined at 900 it was decided to pay the due amount as follows on the date of retirement 30,000 balance in 3 yearly instalments first 2 installments being of 26000 including interest and balance amount as last installment interest was payable@ 10% pa prepare