Caluculation of interest on partners capital
This query is : Resolved
18 June 2012
SIR,
A PARTNER REMUNERATION IS Rs.36000/- p.a.
ENTRY PASSED AS
(EVERY MONTH ENDING FOR 12 MONTHS)
PARTNER CAPITAL DR
CASH CR
ON YEAR ENDING ENTRY PASSED AS
SALARY TO PARTNER A/C DR
PARTNER CAPITAL A/C CR
SO, IN CALUCULATION OF INTEREST WE HAVE TO CALUCULATE ON OPENING BALANCE DIRECTLY OR ON EVERY MONTH ENDING BALANCE
ADVANCE THANKS
SIR,
A PARTNER REMUNERATION IS Rs.36000/- p.a.
ENTRY PASSED AS
(EVERY MONTH ENDING FOR 12 MONTHS)
PARTNER CAPITAL DR
CASH CR
ON YEAR ENDING ENTRY PASSED AS
SALARY TO PARTNER A/C DR
PARTNER CAPITAL A/C CR
SO, IN CALUCULATION OF INTEREST WE HAVE TO CALUCULATE ON OPENING BALANCE DIRECTLY OR ON EVERY MONTH ENDING BALANCE
ADVANCE THANKS
CS GURVINDER SINGH
(Expert)
18 June 2012
on every month ending Balance
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