[ISC] Q. 15 Solution of Fundamentals of Partnership Firms TS Grewal Book ISC 2023-24 Edition

Solution of Question number 15 of the Fundamentals of Partnership Accounts (Firm) chapter TS Grewal Book 2023-24 Edition ISC Board?

From the following Balance Sheet of Arun and Barun and Additional information, Calculate interest on capital @ 6% p.a. payable to Barun for the year ended 31st March 2023:

Liabilities	₹	Assets	₹
Arun’s Capital A/c Barun’s Capital A/c Profit & Loss A/c	50,000 40,000 20,000	Sundry Assets	1,10,000
	1,10,000		1,10,000

During the year, Barun’s drawings were ₹ 15,000, and profit during the year was ₹ 30,000.

Solution:-

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