Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information was obtained from the records of MT Suppliers, a partnership business with Mary and Tanya as partners, on 28 February 2023 (the

The following information was obtained from the records of MT Suppliers, a partnership business with Mary and Tanya as partners, on 28 February 2023 (the end of the financial year): Mary's capital balance was R600 000 on 28 February 2023. She increased her capital contribution by R200 000 on 01 December 2022 (and this was recorded). She earns interest at a rate of 15% per annum. Which one of the following reflects Mary's interest on capital for the year ended. 28 February 2023? O A. R60 000 O B. R82 500 O C. R90 000 O D. R67 500
image text in transcribed
The following information was obtained from the records of MT Suppliers, a partnership business with Mary and Tanya as partners, on 28 February 2023 (the end of the financial year): Mary's capital balance was R600 000 on 28 February 2023. She increased her capital contribution by R200 000 on 01 December 2022 (and this was recorded). She earns interest at a rate of 15% per annum. Which one of the following reflects Mary's interest on capital for the year ended 28 February 2023 ? A. R60000 B. R82 500 C. R90 000 D. R67 500

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

Multinational Financial Management

Authors: R M Srivastava

1st Edition

8174466703, 9788174466709

More Books

Students also viewed these Finance questions

Question

Why is executive onboarding for external hires so difficult?

Answered: 1 week ago

Question

1. What is perception?

Answered: 1 week ago