FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need the answer as soon as possible 3. A and B are partners in a firm. Their capital accounts showed the balance on April

I need the answer as soon as possible image text in transcribed

3. A and B are partners in a firm. Their capital accounts showed the balance on April 1, 2015 as 34,00,000 and 33,00,000 respectively. On August 1, 2015 they introduced further capitals of 50,000 and 540,000 respectively. B withdrew 315,000 from his capital on March 1, 2016. Interest is allowed @ 6% p.a. on the capitals. Compute interest on capitals for the year ending March 31, 2016

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting A Decision Making Approach

Financial Accounting A Decision Making Approach

Authors: Thomas E. King, Valdean C. Lembke, John H. Smith

2nd Edition

0471328235, 978-0471328230

More Books

Students also viewed these Accounting questions

Question

★★★★★
The most recent financial statements for Reply, Inc., are shown here: Assets and costs are proportional to sales. Debt and equity are not. A dividend of $2,400 was paid, and the company wishes to...

Answered: 1 week ago

Question

★★★★★
Prove that if A is any square matrix, then there exists c 0 such that the scalar multiple c A is a convergent matrix. Find a formula for the largest possible such c.

Answered: 1 week ago

Question

★★★★★
=+b) What aspects of the displays indicate that the model is a good one?

Answered: 1 week ago

Question

★★★★★
Following is the unadjusted trial balance for Alcorn Institute as of December 31, 2011, which initially records prepaid expenses and unearned revenues in balance sheet accounts. The Institute...

Answered: 1 week ago

Question

★★★★★
need help with the numbers in the table Last month, Brentwood Corporation purchased and used the same quantity of material in producing its product, speed bumps for traffic control. (Click the icon...

Answered: 1 week ago

Question

★★★★★
-1 Given the matrices defined by 4 and B Find

Answered: 1 week ago

Question

★★★★★
What is the expected change in production volume, on average, as the number of factory workers decreases by five? Please enter the value of the expected change in production volume with ONE digit to...

Answered: 1 week ago

Question

★★★★★
The company has the following beginning balances in its stockholders\' equity accounts on January 1 , 2 0 2 4 : Common Stock, $ 1 0 0 , 0 0 0 ;Additional Paid - in Capital, $ 3 , 7 0 0 , 0 0 0 ; and...

Answered: 1 week ago

Question

★★★★★
business law "This is impossible! Just totally impossible! Ten months ago I was sitting on top of the world. Upper-level management considered me one of the best, if not the best, engineer in the...

Answered: 1 week ago

Question

★★★★★
BE12.4-Using Excel to Calculate Direct Materials Variances PROBLEM Sprague Company's uses a standard cost system and has provided the following information for its direct materials during Julv....

Answered: 1 week ago

Question

★★★★★
Flounder Company purchased a new machine on October 1, 2022, at a cost of $110,000. The company estimated that the machine will have a salvage value of $10,000. The machine is expected to be used for...

Answered: 1 week ago

Question

★★★★★
3. The authors of Random Acts of Kindness tell us that the little things we do for others can have big payoffs. These acts give us an outward focus that helps us move away from selfpreoccupation....

Answered: 1 week ago

Question

★★★★★
1. Some human resource department employees voice concerns when supervisors or team leaders get involved with the everyday problems of their workers. Discuss your thoughts regarding this issue.

Answered: 1 week ago

Question

★★★★★
3. To learn more about how emotions influence your thinking and behavior, complete each of the following sentences. Once you have completed them all, reflect on your written responses.

Answered: 1 week ago

Previous Question Next Question