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Question 7 Chapter 2 of Class 12 Part – 1 Usha Publication
7. (No Partnership Deed) Komal and Ahmed are partners in 3:2 ratio. They contributed capital of Rs.80,000 and Rs.60,000. Komal gave loan to the firm Rs.20,000 on 1st April,2019. There is no partnership deed. Find out interest on capital and loan.
We are providing a solution of Question 7 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 question numbers from 1 to 12 Chapter no. 2 class 12 of Usha publication. To check the direct solution of question no. 7 from the following video by using time stamps of the video.
Interest on Loan payable to Komal:
= 20,000 x 6/100 = ₹ 1,200
Note: No interest on capital is to be allowed as there is no partnership deed.
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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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