Amit and Bramit started business on 1st April, 2020 with capitals of 15,00,000 and 9,00,000 respectively. On 1st October, 2020, they decided that their capitals should be 12,00,000 each. The necessary adjustments in capitals were made by introducing or withdrawing by cheque. Interest on capital is allowed 8% p.a. Compute interest on capital for the year ended 31st March, 2021 (

Amit and Bramit started business on 1st April, 2020 with capitals of 15,00,000 and 9,00,000 respectively. On 1st October, 2020, they decided that their capitals should be 12,00,000 each. The necessary adjustments in capitals were made by introducing or withdrawing by cheque. Interest on capital is allowed 8% p.a. Compute interest on capital for the year ended 31st March, 2021 (

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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