How calculate interest on partners capital
This query is : Resolved
Aslam Khatri
(Querist)
18 August 2014
hello
Two partner A an B. partner A op. blace is 207880 and new capital introduced during the year is 400000 on 20-03 and 150000 on 28-03.
B partner 185880 no new capital introduced.
so how to calculate interst @12% and what is amount of interest.
Two partner A an B. partner A op. blace is 207880 and new capital introduced during the year is 400000 on 20-03 and 150000 on 28-03.
B partner 185880 no new capital introduced.
so how to calculate interst @12% and what is amount of interest.
18 August 2014
Dear Aslam,
It is simple, take no. of days loan utilised and apply rate of interest.
For your ready reference, interest working is given below,
A Capital Days Rate Interest
207880 365 12% 24946
400000 12 12% 1578
150000 4 12% 197
Total 757880 26721
B
Total 185880 365 12% 22306
Note: Day on which capital introduced is taken into account for working interest.
It is simple, take no. of days loan utilised and apply rate of interest.
For your ready reference, interest working is given below,
A Capital Days Rate Interest
207880 365 12% 24946
400000 12 12% 1578
150000 4 12% 197
Total 757880 26721
B
Total 185880 365 12% 22306
Note: Day on which capital introduced is taken into account for working interest.
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Aslam Khatri
(Querist)
18 August 2014
thank u sir
my doubt is clear..
my doubt is clear..
18 August 2014
Welcome dear friend.
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