Answer Posted / sumit jain

The entry is:

Interest on Capital A/C Dr. 1500.00
To Capital A/C 1500.00

interest on capital is just like a profit which charged on
the capital and added to P&L a/c debit side and capital in
the balance sheet.

P&L appropriation a/c DR. 1500.00
To Interest on Capital a/c 1500.00
(Transfer to P&L a/c)

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