Question 22 Chapter 2 of +2-Part-1
Table of Contents
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
The solution of Question 22 Chapter 2 of +2 Part-1: –
Particulars |
L.F. | Amount | 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 |
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Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution
- Chapter No. 1 – Accounting Not for Profit Organisations
- Chapter No. 2 – Partnership Accounts – I (Introduction)
- Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
- Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
- Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
- Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
- Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
- Chapter No. 8 – Company Accounts (Share Capital)
- Chapter No. 9 – Company Accounts (Issue of Debentures)
- Chapter No. 10 – Company Accounts (Redemption of Debentures)
Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis- Comparative and Common Size
- Chapter No. 4 – Ratio Analysis
- Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

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