Following is the extract of the Balance Sheet of Neelkant and Mahadev as on 31st March 2023:
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From the following Balance Sheet of Long and Short, Calculate interest on capital @ 8% p.a. for the year ended 31st March 2023.
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Amit and Bramit started business on 1st April 2022 with capitals of ₹ 15,00,000 and ₹ 9,00,000 respectively
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Moli and Bholi contribute ₹ 20,000 and ₹ 10,000 respectively towards capital. They decide to allow interest on capital @ 6% p.a
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Shiv, Mohan, and Gopal are partners sharing profits and losses in the ratio of 2 : 2 : 1. Shiv is entitled to a commission of 10% on the net profit
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Abha, Bobby, and Vineet are partners sharing profits and losses equally. As per Partnership Deed, Vineet is entitled to a commission of 10% on
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A, B and C, and D are partners in a firm sharing profits in the ratio of 4 : 3 : 2 :1. The firm earned a net profit of ₹ 1,80,000 for the year ended 31st March 2023
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X and Y are partners in a firm. X is entitled to a salary of ₹ 10,000 per month and a commission of 10% of the net profit after the partner’s salaries but before charging the commission
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Ram and Mohan, two partners, drew for their personal use ₹ 1,20,000 and ₹ 80,000. Interest is chargeable @ 6% p.a. on the drawings
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Brij and Mohan are partners in a firm. They withdrew ₹ 48,000 and ₹ 36,000 respectively during the year evenly in the middle of every month
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