ne profit.A&B Co. started operations on April 1, 20x1. Mr. A, a partnerin A&B Co., is entitled to 6% interest on the weighted averagebalance of his capital account. Mr. A's ledger shows thefollowing:A, CapitalRef.DateDebitCreditBalance100,000.0079,000.0087,000.00001100,000.00April 1, 20x1June 30, 20x1September 30, 20x1December 1, 20x1(9821,000.001468,000.002114,000.0083,000.00Requirement: Compute for the interest on Mr. A's weightedaverage capital balance.

Assuming year ends on 31 st March 20x2 in order to get 12 months

ne profit. A&B Co. started operations on April 1, 20x1. Mr. A, a partner in A&B Co., is entitled to 6% interest on the weighted average balance of his capital account. Mr. A's ledger shows the following: A, Capital Ref. Date Debit Credit Balance April 1, 20x1 June 30, 20x1 September 30, 20x1 December 1, 20x1 001 100,000.00 100,000.00 79,000.00 87,000.00 83,000.00 098 21,000.00 146 8,000.00 211 4,000.00 Requirement; Compute for the interest on Mr. A's weighted average capital balance.

ne profit. A&B Co. started operations on April 1, 20x1. Mr. A, a partner in A&B Co., is entitled to 6% interest on the weighted average balance of his capital account. Mr. A's ledger shows the following: A, Capital Ref. Date Debit Credit Balance April 1, 20x1 June 30, 20x1 September 30, 20x1 December 1, 20x1 001 100,000.00 100,000.00 79,000.00 87,000.00 83,000.00 098 21,000.00 146 8,000.00 211 4,000.00 Requirement; Compute for the interest on Mr. A's weighted average capital balance.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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