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Mansoor and Mazin started business on April 1, 2016 with capitals of RO 90,000 and RO 70,000 respectively. Mazin introduced RO 25,000 as additional capital
Mansoor and Mazin started business on April 1, 2016 with capitals of RO 90,000 and RO 70,000 respectively. Mazin introduced RO 25,000 as additional capital on July 31, 2016. Interest on capital is to be allowed @ 12%. You are required to choose the interest on Capital payable to Mazin for the year ending March 31, 2017. a. RO 8,400 O b. RO 10,400 c. None of the other options O d. RO 10,800
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Fundamentals of Cost Accounting
Authors: William Lanen, Shannon Anderson, Michael Maher
3rd Edition
978-0077398194
