[CBSE]Q. 2 solution of Fundamentals of Partnership Firms DK Goel (2022-23)
Solution of Question number 2 of the Fundamentals of partnership firm chapter DK Goel Book 2022-23
Girish and Satish are partners in a firm. Their Capitals on April 1, 2021 were ₹ 5,60,000 and ₹ 4,75,000 respectively. On August 1, 2021 they decided that their Capitals should be ₹ 5,00,000 each. The necessary adjustment in the Capitals were made by introducing or withdrawing cash, Interest on Capital is allowed at 6% p.a. You are required to compute interest on Capital for the year ending March 31, 2022.
[Ans. Interest on Capitals: Girish ₹ 31,200 and Satish ₹ 29,500.]
Solution:-