lustration 23. Ramesh and Naresh are partners in a firm. Their capitals as were 2,50,000 and 1,50,000 respectively. They share profits equally. On ecided that their capitals should be 2,00,000 each. The necessary adjustm were made by introducing or withdrawing cash. Interest on capital is a ompute interest on capital for both the partners for the year ended 31st M

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Illustration 23. Ramesh and Naresh are partners in a firm. Their capitals as on 1st April, 201
were * 2,50,000 and 1,50,000 respectively. They share profits equally. On 1st July, 2015, the
decided that their capitals should be * 2,00,000 each. The necessary adjustment in the capital
were made by introducing or withdrawing cash. Interest on capital is allowed @ 8% pa
Compute interest on capital for both the partners for the year ended 31st March, 2016.
Transcribed Image Text:Illustration 23. Ramesh and Naresh are partners in a firm. Their capitals as on 1st April, 201 were * 2,50,000 and 1,50,000 respectively. They share profits equally. On 1st July, 2015, the decided that their capitals should be * 2,00,000 each. The necessary adjustment in the capital were made by introducing or withdrawing cash. Interest on capital is allowed @ 8% pa Compute interest on capital for both the partners for the year ended 31st March, 2016.
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