Question

Q.28B. Journalise:-

(4)provide interest on capital of Rs 1,50,000 at 6% p.a. for 9 months.

Answer 1

Hey mate ✌️✌️


Journal Entry ⏬⏬



Interest on capital A/c.........................Dr..6250
.............To capital A/c...6250

✨ Hope this helps you ✨

Answer 2

Interest on Capital A/c                     -----dr           6750

        To Capital A/c                                                             6750

(being interest received on capital for 9 months)

GIVEN: Interest on capital of Rs 1,50,000 at 6% p.a. for 9 months.
TO FIND Journal entry for the transaction given in the question.
SOLUTION:

As we are given in the question,

We need to find the journal entry for interest on capital of Rs 1,50,000 at 6% p.a. for 9 months.

Now we know,

The amount to be transferred will be,

=Capital Amount*Percentage*Number of months/Total number of months

= 150,000 * 6/100 * 9/12

= 6750

Therefore,

Rs.6750 will be transferred to the Capital account.

The journal Entry for the same will be:

Interest on Capital A/c                     -----dr           6750

        To Capital A/c                                                             6750

(being interest received on capital for 9 months)

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