16. Following is the extract of the Balance Sheet of, Neelkant and Mahdev as on March 31, 2014: Balance Sheet as at March 31, 2014 Liabilities Amount (Rs.) Amount Assets (Rs.) 10,00,000 Sundry Assets 10,00,000 1,00,000 1,00,000 30,00,000 Neelkant's Capital Mahadev's Capital Neelkant's Current Account Mahadey's Current Account Profit and Loss Apprpriation (March 2007) 8,00,000 30,00,000 30,00,000 10,00,000. Calculate interest on capital @ 5% p.a for the year ending March 31, 2014. During the year Mahadev's drawings were Rs. 30.000. Profits during 2014 is s: Interest on Neelkant's Capital, Rs. 50.000 and Mahadev's Capital, Rs. 50,000)
16. Following is the extract of the Balance Sheet of, Neelkant and Mahdev as on March 31, 2014: Balance Sheet as at March 31, 2014 Liabilities Amount (Rs.) Amount Assets (Rs.) 10,00,000 Sundry Assets 10,00,000 1,00,000 1,00,000 30,00,000 Neelkant's Capital Mahadev's Capital Neelkant's Current Account Mahadey's Current Account Profit and Loss Apprpriation (March 2007) 8,00,000 30,00,000 30,00,000 10,00,000. Calculate interest on capital @ 5% p.a for the year ending March 31, 2014. During the year Mahadev's drawings were Rs. 30.000. Profits during 2014 is s: Interest on Neelkant's Capital, Rs. 50.000 and Mahadev's Capital, Rs. 50,000)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:16. Following is the extract of the Balance Sheet of, Neelkant and Mahdev as on
March 31, 2014:
Balance Sheet as at March 31, 2014
Assets
Amount
(Rs.)
Amount
(Rs.)
Liabilities
10,00,000 Sundry Assets
10,00,000
30,00,000
Neelkant's Capital
Mahadev's Capital
Neelkant's Current Account
Mahadey's Current Account
Profit and Loss Apprpriation
(March 2007)
1,00,000
1,00,000
8,00,000
30,00,000
30,00,000
uring the year Mahadev's drawings were Rs. 30.000. Profits during 2014 ts
. 10,00,000. Calculate interest on capital @ 5% p.a for the year ending
March 31, 2014.
Ans: Interest on Neelkant's Capital, Rs. 50,000 and Mahadev's Capital,
Rs. 50,000)
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