From the following Balance Sheet of Sujata and Swati, Calculate interest on capital @ 5% p.a. for the year ended 31st March 2023:
From the following Balance Sheet of Sujata and Swati, Calculate interest on capital @ 5% p.a. for the year ended 31st March 2024:
| Liabilities | ₹ | Assets | ₹ |
| Sujata’s Capital
Swati’s Capital Workmen Compensation Reserve |
9,0000 8,0000 4,0000 |
Sundry Assets
|
21,0000
|
| 21,0000 | 21,0000 |
During the year, drawings of Sujata and Swati were ₹ 1,000 and ₹ 3,000 respectively. Profit during the year was ₹ 6,000.
Workmen Compensation Reserve was set aside during the year ended 31st March 2024.
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