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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
  1,10,000   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
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