Required: From the following information that appeared in the books of Snoopy and Goofy, calculate the interest on capital at the end of the financial year for the partners, Snoopy and Goofy, for the financial year ended 29 February 2.12 1 Capital: Snoopy on 1 March 2.11, R500 000. 2. Capital: Goofy on 1 March 2.11, R250 000. Interest on capital, 12% pa. 4 During the year the partners increase their capital as follows: a. Snoopy increased his capital on 1 September 2.11 by R100 000 b. Goofy increased his capital on 1 September 2.11 by R50 000.​