[ISC] Q. 11 solution of Fundamentals of Partnership Firms TS Grewal Book ISC 2023-24 Edition
Solution of Question number 11 of the Fundamentals of Partnership Accounts (Firm) chapter TS Grewal Book 2023-24 Edition ISC Board?
Ram and Laxman started business on 1st April 2022 with capitals of ₹ 20,00,000 and ₹ 12,00,000 respectively. On 1st May, Ram introduced additional capital of ₹ 4,00,000 and Laxman withdrew ₹ 2,00,000 from his capital. On 1st October, Ram withdrew ₹ 8,00,000 from his capital and Laxman introduced ₹ 10,00,000. Interest on capital is allowed @ 6% p.a. Calculate the interest on capital for the year ending 31st March 2023.
Solution:-
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