Arun and Barun started business on 1st April, 2023. From the following Balance Sheet of Arun and Barun and Additional information, Calculate interest on capital @ 6% p.a
Arun and Barun started business on 1st April, 2023. From the following Balance Sheet of Arun and Barun and Additional information, Calculate interest on capital @ 6% p.a. payable to Barun for the year ended 31st March 2024:
| Liabilities | ₹ | Assets | ₹ |
|
Arun’s Capital A/c Barun’s Capital A/c Profit & Loss A/c |
50,000 40,000 20,000 |
Sundry Assets | 1,10,000 |
| Â | 1,10,000 | Â | 1,10,000 |
During the year, Barun’s drawings were ₹ 15,000, and profit during the year was ₹ 30,000.
Anurag Pathak Changed status to publish April 22, 2024
