Question 10 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 10 Chapter 2 of +2- Part-

Question 10 Chapter 2 of +2-Part-1

10. (Interest on Loan) Rajan and Sunil are partners in a chemist shop in 3:1 ratio. Rajan gave a loan of Rs.2,00,000 to the firm on 1st April 2018 which the firm returned on 31st December 2018. Sunil also gave Rs.1,00,000 as a loan to the firm on 1st November 2018. Meanwhile, wife pf Rajan gave a loan of Rs.50,000 to the firm @10% on 1st January 2019. Partnership Deed is silent on interest on a loan of a partner. Calculate interest on Loan of Partner and Mrs Partner.

 

The solution of Question 10 Chapter 2 of +2 Part-1

: – 

Interest on Loan:
Payable to Rajan for 9 months = 2,00,000*6/100*9/12 = Rs.9,000


Payable to Sunil for 5 months = 2,00,000*6/100*5/12 = Rs.2,500

Payable to Mrs. Rajan for 3 months = 50,000*10/100*3/12 = Rs.1,250

 

 

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Also, Check out the solved question of previous Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

2 Book 1 min - Question 10 Chapter 2 of +2 Part-1 - USHA Publication  12 Class Part - 1
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms

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