Following is the extract of the Balance Sheet of, Neelkant and Mahdev as on March 31, 2013:
Balance Sheet as at March 31, 2013
Neelkant’s Current Account
Mahadev’s Current Account
Profit and Loss Apprpriation
During the year Mahadev’s drawings were Rs 30,000. Profits during 2013 is Rs 10,00,000. Calculate interest on capital @ 5% p.a for the year ending March 31, 2013.* As per the question, this year should be March 2013
what is the meaning of management is multidimensional?
X and Y contribute Rs.20000 and Rs.10000 . They decide to allow interest on capital @ 6% p.a. Their respective share of profits is 2:3 and the business profit ( before interest ) for the year is Rs.1500. Show the distribution of profit (i). where there is no agreement except for interest on capitals. (ii) . where there is a clear agreement that the interest on capitals will be allowed even if it involves thr firm in loss.
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