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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 2023:

Liabilities Assets
Arun’s Capital

Barun’s Capital

Profit and 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 19, 2024
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