Nimrat and Deep are partners having capitals as on 1st April, 2023 as Nimrat – ₹ 4,80,000 and Deep as ₹ 1,00,000 (Debit)
Nimrat and Deep are partners having capitals as on 1st April, 2023 as Nimrat – ₹ 4,80,000 and Deep as ₹ 1,00,000 (Debit). On 1st September, 2023, Deep introduced capital of ₹ 2,50,000 and withdrew ₹ 30,000 on 1st February, 2024. Nimrat withdrew ₹ 60,000 on 1st March, 2024. Interest on capital is to be allowed @ 8% p.a.
Calculate the interest on capital for Nimrat and Deep for the year ended 31st March, 2024.
Anurag Pathak Answered question June 19, 2024