Capital withdrawl
This query is : Resolved
27 October 2014
Dear all,
we have three partner and each capital 15lakh, out of three our one partner withdrawl 25 lakh, now what is calculation of intrest on capital and what journal entry will be made,what is final effect of (25-15) 10lakh extra withdrawl.pls tell fast urgently.
and thanks in advance to all
we have three partner and each capital 15lakh, out of three our one partner withdrawl 25 lakh, now what is calculation of intrest on capital and what journal entry will be made,what is final effect of (25-15) 10lakh extra withdrawl.pls tell fast urgently.
and thanks in advance to all
CA Parul Saxena
(Expert)
27 October 2014
Drawings Dr..................15000000
Partners'Loan Dr.............10000000
To Bank...............................2500000
Partners'Loan Dr.............10000000
To Bank...............................2500000
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28 October 2014
pls tell how we calculate intrest on capital in this case and is loan to partner amount will be paid with intrest by partner on 31st march and thank you very much parul G
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