
Question 25 Chapter 1 of +2-Part-1
25. (Treatment of Interest received) Calculate the interest to be credited to Income and Expenditure account for the year 31-3-2015 :
| Particulars | Rs. |
| Interest received | 32,500 |
| Interest Accrued 1-4-14 | 9,100 |
| Interest Accrued 31-3-15 | 5,200 |
Interest to be credited to Income and Expenditure account
| Particulars |
Amount | |
|---|---|---|
| Interest received during the year | 32,500 | |
| Add: Interest accrued at the end | 5,200 | |
| 37,700 | ||
| Less: Interest accrued in the beginning | (9,100) | |
| Interest credited to Income and Expenditure Account | 28,600 | |
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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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