Question 49 Chapter 6 of +2- Part

Question 49 Chapter 6 of +2-Part-1

49. (Deceased Partner’s Interest on Capital) A , B and C are partners sharing profits in the ratio of 4 :3: 2. According to the partnership agreement partners are entitled to receive interest on capital @ 12% pa. C dies, His capital as on January 1, 2019 was Rs. 36,000 calculate interest on capital allowed to C if he dies on :
(a) Jan 31, 2019,
(b) March 31, 2019
(c) March 14, 2019

The solution of Question 49 Chapter 6 of +2 Part-1: –

Interest is calculated as follow s:

Amount X Rate X Time

(a)=Rs. 36,000x12x1
10012
       
 =Rs 360    
(b)=Rs. 36,000x12x3
10012
       
 =Rs 1,080    
(c)=Rs. 36,000x12x73
100365
       
 =Rs 864    
No. of days in case (c) calculates as follows 
 Days
January31
February28
March14
Total73

Comment if you have any questions.
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 49 Chapter 6 of +2 Part-1 - USHA Publication 12 Class Part - 1
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firm

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