A and B are partners ina firm sharing profits equally they had advanced to the firm a sum of 30000 as a loan in their profit sharing ratio on 1st October ,2017 the partnership deed is silent on the question of interst on the loan from partners compute the interst payable by the firm to the partners assuming the firm closes it's books on 31st March each year
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A and B are partners in a firm sharing profits equally. They had advanced to the firm a sum of Rs. 30,000 as a loan in their profit-sharing ratio on 1st October, 2017. The Partnership Deed is silent on the question of interest on the loan from partners. Compute the interest payable by the firm to the partners, assuming the firm closes its books on 31st March each year.
December 26, 2019
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Saummya Basha
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ANSWER
Interest on partner's loan =Rs.15,000×
100
6
×
12
6
=Rs450
December 26, 2019
avatar
Saummya Basha
Share
Save
ANSWER
Interest on partner's loan =Rs.15,000×
100
6
×
12
6
=Rs450
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