The following information was obtained from the records of MT Suppliers, a partnership business with Mary and Tanya as partners, on 28 February 2023 (the end of the financial year): Mary's capital balance was R600 000 on 28 February 2023. She increased her capital contribution by R200 000 on 01 December 2022 (and this was recorded). She earns interest at a rate of 15% per annum. Which one of the following reflects Mary's interest on capital for the year ended 28 February 2023? O A. R60 000 OB. R82 500 O C. R67 500 OD. R90 000

The following information was obtained from the records of MT Suppliers, a partnership business with Mary and Tanya as partners, on 28 February 2023 (the end of the financial year): Mary's capital balance was R600 000 on 28 February 2023. She increased her capital contribution by R200 000 on 01 December 2022 (and this was recorded). She earns interest at a rate of 15% per annum. Which one of the following reflects Mary's interest on capital for the year ended 28 February 2023? O A. R60 000 OB. R82 500 O C. R67 500 OD. R90 000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Question

The following information was obtained from the records of MT Suppliers, a partnership business with Mary and Tanya as partners, on 28
February 2023 (the end of the financial year): Mary's capital balance was R600 000 on 28 February 2023. She increased her capital contribution
by R200 000 on 01 December 2022 (and this was recorded). She earns interest at a rate of 15% per annum. Which one of the following reflects
Mary's interest on capital for the year ended 28 February 2023?
O A. R60 000
OB. R82 500
O C. R67 500
OD. R90 000
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