Gee and Ess are partners having fixed capitals of ₹ 3,00,000 each. They have opening credit balances of ₹ 1,00,000 and ₹ 2,00,000 respectively in the Current Accounts

Anurag Pathak
April 14, 2023
[ISC] Fundamentals of Partnership, [ISC} TS Grewal Solutions, Accountancy Class 12th

1.11K views4 days ago[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

Anurag Pathak 24.11K April 14, 2023 0 Comments

Gee and Ess are partners having fixed capitals of ₹ 3,00,000 each. They have opening credit balances of ₹ 1,00,000 and ₹ 2,00,000 respectively in the Current Accounts.

Partnership Deed allows interest on capital and also allows and charges interest on Current Accounts @ 6% p.a.

Calculate the interest that will be allowed by the firm.

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