Question

Ramesh and Suresh are partners in a firm. Their capital accounts showed the balance on
January 1, 2019 as Rs.40,000 and Rs.30,000 respectively. During the year, Ramesh
introduced additional capital of Rs.20,000 on May 1, 2019 and Suresh brought in further
capital of Rs.30,000 on July 1, 2019. Suresh withdrew Rs.10,000 from his capital on October
1, 2019. Interest is allowed @6% p.a. on the capitals. Calculate the interest to be paid on
capitals of Ramesh and Suresh.
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Answer 1

Answer:

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Explanation:

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Answer 2

Explanation:

Given Ramesh and Suresh are partners in a firm. Their capital accounts showed the balance on January 1, 2019 as Rs.40,000 and Rs.30,000 respectively. During the year, Ramesh  introduced additional capital of Rs.20,000 on May 1, 2019 and Suresh brought in further  capital of Rs.30,000 on July 1, 2019. Suresh withdrew Rs.10,000 from his capital on October  1, 2019. Interest is allowed @6% p.a. on the capitals. Calculate the interest to be paid on  capitals of Ramesh and Suresh.

• So Ramesh’s Capital Account balance was Rs 40,000
• Also additional Capital of Rs 20,000 was introduced, so we have 40,000 + 20,000
•                                                                                                      = Rs 60,000
• So interest on the Capitals was 6% per annum
• So we get 60,000 x 6/100 = 3,600  
• So Suresh’s Capital Account balance was Rs 30,000
• Also additional Capital of Rs 30,000 was introduced, so we have 30,000 + 30,000
•     = 60,000
• So interest on the Capitals was 6% per annum
• So we get 60,000 x 6/100 = 3,600    
• Therefore the interest to be paid on Capitals will be 3600 + 3600 = 7,200

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https://brainly.in/question/25172390