Please answer fast account
Dear Student,
Working Notes:
Calculation of Interest On Capital:
A: 9,00,000 x 10% = Rs. 90,000
B: 4,00,000 x 10% = Rs. 40,000
Regards
| Date | Particulars | L.F. | Amount(Rs.) | Amount(Rs.) | |
|---|---|---|---|---|---|
| A's current A/c To B's Current A/c (Adjustment entry passed) |
Dr. |
11,200 |
11,200 |
Working Notes:
| Particulars | A | B | Total | |
|---|---|---|---|---|
| Profits already distributed Salary to A Interest on Capital Profit correctly distributed |
Dr. Cr. Cr. Cr. |
1,94,600 50,000 90,000 43,400 |
83,400 36,000 40,000 18,600 |
2,78,000 86,000 1,30,000 62,000 |
| Net effect | 11,200 (Dr.) | 11,200 (Cr.) | NIL |
Calculation of Interest On Capital:
A: 9,00,000 x 10% = Rs. 90,000
B: 4,00,000 x 10% = Rs. 40,000
Regards