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Question 22 Chapter 2 of Class 12 Part – 1 Usha Publication
22. (Interest on Capital) The following is the information available from the books of a firm:
| M | N | |
| Capital on 1-4-2017 | 80,000 | 1,00,000 |
| Additional Capital on 1-7-2017 | 20,000 | ….. |
| Loan to firm | ….. | 10,000 |
| Drawings | 10,000 | 5,000 |
| Interest on Capital | 12% p.a. | 12% p.a. |
Find out interest on capital up to 31-3-2018
We are providing a solution of Question 22 Chapter 2 of Class 12 Part - 1 Usha Publication in two formats. one is in Video format and another is in article format. Check out both formats as follows:
The video consists solution of questions numbers 18 to 28 Chapter No. 2 class 12 of Usha publication. To check the direct solution of question no. 22 from the following video by using time stamps of the video.
| Particulars |
Details | Amount |
|---|---|---|
| Interest on M’s Capital: | ||
| On 80,000 @12% for 1 year (80,000 x 12/100) | 9,600 | |
| On 20,000 @12% for 9 Months(20,000 x 12/100 x 9/12) | 1,800 | 11,400 |
| Interest on B’s Capital: | ||
| On 1,00,000 @10% for 1 year (1,00,000 x 12/100) | 12,000 | |
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
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