Question

Arun and Barun are partners in a firm sharing profits & losses equally.Their capitals on 1st April,2015 were 4,80,000 and 5,40,000.On 1st October,2015 they decided their total capital of the firm should be 10,00,000 to be contributed equally by both of them.According to partnership deed intrerest on capital allowed to partners 6%P.A. Closing date is 31st March,2016.

Answer 1

1. computation of interest on capital of Arun ON 4,80,000 for 6 month = 4,80,000×6÷100×6÷12=14400. Now on 5,00,000 for 6 months =5,00,000×6÷100×6÷12=15,000. then interest on capital of arun is 29,400. Now computation of interest on capital of barun . On 5,40,000 for 6 months = 5,40,000×6÷100×6÷12= 16200. On 5,00,000 for 6 months = 5,00,000×6÷100×6÷12= 15,000. hence interest on capital of barun is 31,200

Answer 2

Answer:

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