Partnership firm

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Sourabh jain

Sourabh jain (Querist)
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11 September 2014 please send me a information about the calculation of interest on partner's capital account

CA VISHWAKEERTHI.P.S.

CA VISHWAKEERTHI.P.S. (Expert)
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12 September 2014 You required to consider the capital opening balance ,capital introduced and drawings made during the year.

First you require to consider the no. of days between the transaction to calculate interest on capital (its actual method of calculation) .

ALTERNATIVE 2 :

Take opening balance and calculate the % of interest on capital to find out interest on capital .