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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
answered-by-expert 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

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