19. Calculate interest on Capital and on Current Accounts @ \( 5 \% \) p.a. from the following Balance Sheet as at 31st March, 2023 of Anu and Bobby: BALANCE SHEET as at 31st March, 2023 \begin{tabular}{lr|r|l|r} \hline \multicolumn{6}{c}{ BALANCE SHEET as at 31st March, 2023 } \\ \hline Liabilities & \multicolumn{1}{|c|}{\( ? \)} & Assets & \( ? \) \\ \hline Sundry Creditors & & 40,000 & Cash in Hand & 10,000 \\ Expenses Payable & 10,000 & Cash at Bank & 90,000 \\ Capital A/cs: & & Current A/c: Bobby & 50,000 \\ Anu & \( 2,00,000 \) & & Fixed Assets & \( 3,90,000 \) \\ Bobby & \( 2,50,000 \) & \( 4,50,000 \) & & \\ Current A/c: & & & & \\ Anu & & 40,000 & & \( 5,40,000 \) \\ \hline \end{tabular}
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Step 1: Understand the task The task is to calculate the interest on Capital and on Current Accounts at a rate of 5% per annum for Anu and Bobby based on the given Balance Sheet as at 31st March, 2023. Show more…
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