CBSE Class 12-commerce Answered
X and Y have capital of 1,00,000 and 80,000 respectively. Interest is payable @ 5% per annum .Profits for the year were 6,000 .Amount of interest on capital is charged against the profits.State the amount of interest payable to X and Y
Asked by Shruti | 18 Jan, 2018, 06:11: PM
Expert Answer
The answer to this question is quite simple and same has already been discussed in our class. Please refer to the attached image of PPT so discussed. In case, Interest on Capital is to be treated as a charge against profits, it will be provided irrespective of profits so earned.
Interest on Capital to X: 5,000
Interest on Capital to Y: 4,000
Answered by | 19 Jan, 2018, 10:14: AM
Application Videos
Concept Videos
CBSE 12-commerce - Accountancy
Asked by joymotibarman | 15 Jan, 2024, 02:15: PM
ANSWERED BY EXPERT
CBSE 12-commerce - Accountancy
Asked by divyanshmaheshwari2003 | 04 Nov, 2023, 05:06: PM
ANSWERED BY EXPERT
CBSE 12-commerce - Accountancy
Asked by deepamonidas1234 | 21 Sep, 2023, 09:14: PM
ANSWERED BY EXPERT
CBSE 12-commerce - Accountancy
Asked by officialpaperio.man | 31 Jan, 2022, 09:14: AM
ANSWERED BY EXPERT
CBSE 12-commerce - Accountancy
Asked by swapnil292001 | 08 Nov, 2020, 11:22: AM
ANSWERED BY EXPERT
CBSE 12-commerce - Accountancy
Asked by raksha2sanubth | 13 Jul, 2020, 11:22: AM
ANSWERED BY EXPERT
CBSE 12-commerce - Accountancy
Asked by raksha2sanubth | 13 Jul, 2020, 11:19: AM
ANSWERED BY EXPERT
CBSE 12-commerce - Accountancy
Asked by sonowalabhilash | 02 Jul, 2020, 09:46: AM
ANSWERED BY EXPERT
CBSE 12-commerce - Accountancy
Asked by simarjiv10 | 24 Jun, 2020, 11:25: PM
ANSWERED BY EXPERT