Partnership firm
This query is : Resolved
11 September 2014
please send me a information about the calculation of interest on partner's capital account
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 .
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 .
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