Eopue method
Amit Gahlawat (118 Points)
12 May 2017
What is epoque method which was recently asked in accounts paper 📄
2 Replies
manoj
(student)
(5205 Points)
Replied 12 May 2017
Interest is computed from the opening date Of the account current to the date of each transaction. Thus, no interest is charged on the opening balance while interest for the whole period will be charged on the closing balance.
Interest is calculated at the agreed rate on the balance of the products for one thy (or month) and entered on the side which has smaller product In case rates of interest are different for debits and credits, Interest for each side will have to be calculated separately.
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