Solution of Q 31 Fundamentals of Partnership Firm TS Grewal 2023-24 [CBSE]
Step-by-step solution of Question 31, Chapter 1 Accounting for Partnership Firms – Fundamentals, TS Grewal Class 12 Accountancy 2023-24 for the CBSE Board.
Question 31
Amit and Bramit started business on 1st April, 2022 with capitals of ₹15,00,000 and ₹9,00,000 respectively. On 1st October, 2022, they decided that their capitals should be ₹12,00,000 each. The necessary adjustments in capitals were made by introducing or withdrawing by cheque. Interest on capital is allowed @ 8% p.a. Compute interest on capital for the year ended 31st March, 2023.
Solution
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About this solution
This is Chapter 1 Accounting for Partnership Firms – Fundamentals of TS Grewal Edition 2023-24.
Written by Vijay Adarsh, teaching commerce since 2003 to Class 11, Class 12, B.Com, CA, CS and CMA students.
We have solved all the practical questions in this book and explained them Step by Step in detail with clear working notes.
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