Question

From the following Balance Sheet of Girish and Gokul

calculate interest on capital and interest on drawings @5% pa for

the year ended 31st March 2020
Liabilities Rs Assets Rs

Capital Accounts

Girish

Gokul

P & L App A/c

(2019-2020)

90,000

70,000

24,000

Sundry Assets 1,84,000

1,84,000 1,84,000

During the year, Girish withdrew Rs.2,000 at the beginning of every

month and Gokul withdrew Rs.15,000 during the year ended. The

profits for the year ended 31st March were Rs.84,000. ​

Answer 1

Answer:

1 : compliance with formal or conventional rules : ceremony. 2 : the quality or state of being formal. 3 : an established form or procedure that is required or conventional the interview was just a formality.

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