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Following is the extract of the Balance Sheet of Neelkant and Mahadev as on 31st March, 2018. During the year, Mahadev’s drawings were ₹ 30,000. Profits during the year ended 31st March, 2018 is ₹ 10,00,000. Calculate interest on capital @ 5% p.a. for the year ending 31st March, 2018. |
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Answer» Intrest on VIKASH CAPITAL = 10,00,000×5% = 50,000Intrest on MAHADEV capital = 10,00,000×5% = 50,000 EXPLANATION:When the capital of partner is fixed drawing and interst does not affect them. Please mark it as brainlist.. |
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