Question

Rajan and sajan are
Partners
in a firm.their
Capital account
showed
the balance on 1st - 1-2013 as
Rajan ₹40,000
and sajan ₹50,0000. During the
Year 2013 Rajan brought in additional capital of ₹20,000
on 1st-7-2013 and sajan introduced ₹10,000 on 1st-may-2013 the interest is calculated on their capitals at 10% per annum.accounts are closed on december 31st, each year . calculate the interest on capital to be allowed on partners capital accounts for the year 2013.
​

Answer 1

Answer:

Calculation of interest on capital

Rajan

From 1jan to 30 June

40000×10/100×6/12=2000

From 1juky to 31 dec.

(40000+20000)=60000

60000×10/100×6/12= 3000

Total interest on Rajan'capital = 2000+3000=5000

Sajan

From 1jan to 30 April

50000×10/100×4/12=1667

From 1may to 31 dec.

(50000+ 10000)=60000

60000×10/100×8/12=4000

Total interest on Sajan 'capital= 1667+4000=5667

Answer 2

Answer:

answer

Explanation:

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