Question

Raj and Amrita Anshu are partners sharing profit and losses in the ratio 3 is to 2 their capital or 200000 and 160062 interest on capital is allowed percent per annum is to be allowed an annual salary of 30,000 the profit for the year ended 31 March 2018 prepare to calculation of interest on capital but after charging with every is 90058 Profit and Loss appropriation account

Answer 1

Answer:

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Answer 2

Answer:

Calculation of Interest on Capital

Calculation of Interest on CapitalA= Interest on 50,000@10% = 5,000

Calculation of Interest on CapitalA= Interest on 50,000@10% = 5,000 Interest on 10,000@10% for

Calculation of Interest on CapitalA= Interest on 50,000@10% = 5,000 Interest on 10,000@10% for 9 months i.e 10000 * 10% * (9/12) = 750

Calculation of Interest on CapitalA= Interest on 50,000@10% = 5,000 Interest on 10,000@10% for 9 months i.e 10000 * 10% * (9/12) = 750Total Interest on A's Capital = 5750

Calculation of Interest on CapitalA= Interest on 50,000@10% = 5,000 Interest on 10,000@10% for 9 months i.e 10000 * 10% * (9/12) = 750Total Interest on A's Capital = 5750B= Interest on 40,000@10% = 4000

Calculation of Interest on CapitalA= Interest on 50,000@10% = 5,000 Interest on 10,000@10% for 9 months i.e 10000 * 10% * (9/12) = 750Total Interest on A's Capital = 5750B= Interest on 40,000@10% = 4000 Interest on 1000@10%for

Calculation of Interest on CapitalA= Interest on 50,000@10% = 5,000 Interest on 10,000@10% for 9 months i.e 10000 * 10% * (9/12) = 750Total Interest on A's Capital = 5750B= Interest on 40,000@10% = 4000 Interest on 1000@10%for 9 months = 75

Calculation of Interest on CapitalA= Interest on 50,000@10% = 5,000 Interest on 10,000@10% for 9 months i.e 10000 * 10% * (9/12) = 750Total Interest on A's Capital = 5750B= Interest on 40,000@10% = 4000 Interest on 1000@10%for 9 months = 75Total Interest on capital = 4075