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Calculate interest on Capital and on Current Accounts @ 5% p.a. from the following Balance Sheet as at 31st March 2023 of Anu and Bobby:

Balance Sheet as at 31st March, 2023

Liabilities ₹ Assets ₹

Sundry Creditors

Expenses Payable

Capital A/cs:

Anu

Bobby

Current A/c Anu

40,000

10,000

2,00,000

2,50,000

40,000

Cash in Hand

Cash at Bank

Current A/c:

Bobby

Fixed Assets

10,000

90,000

50,000

3,90,000

  5,40,000   5,40,000

  Drawings during the year were ₹ 36000 each and the net profit share of each partner was ₹ 30,000

Anurag Pathak Changed status to publish April 19, 2024
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