INTERSET ON CAPITAL

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Going...to be C.A soon...
1055 Points Posted on 26 July 2007

HI ALL,


can anybody tell me howz to calculate interest on capital of partners in a partnership firm.i hve the following problem.


our partner is getting remuneration (33,000)and when it is credited to partner capital a/c. is it on 31-03-07 or on monthly basis?(ie. 3000 pm)


plz tell me


thnkx

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On 26 July 2007 at 23:19 Report
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Chartered Accountant
4609 Points Posted on 30 July 2007
It all depends upon the language in the partnership deed ..........if it provides for year end calculations based on profits .....then remuneratiion will be credited at the year end and cannot be credited monthly
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On 30 July 2007 at 04:58

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