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Calculate Interest on Drawings Based on the Assumption that the Amounts Were Withdrawn Evenly, Throughout the Year. - Accountancy

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प्रश्न

Amit and Bhola are partners in a firm. They share profits in the ratio of 3:2. As per their partnership agreement, interest on drawings is to be charged @ 10% p.a. Their drawings during 2017 were Rs 24,000 and Rs 16,000, respectively. Calculate interest on drawings based on the assumption that the amounts were withdrawn evenly, throughout the year.

योग

उत्तर

Interest on Drawings = Drawings × `"Rate"/100`

Amit = 24,000 × `10/100 xx 6/12` = Rs 1,200

Bhola = 16,000 × `10/100 xx 6/12` = Rs 800

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Distribution of Profit Among Partners
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अध्याय 2: Accounting for Partnership Firms-Fundamentals - Exercises [पृष्ठ १०४]

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टीएस ग्रेवाल Accountancy - Double Entry Book Keeping Volume 1 [English] Class 12
अध्याय 2 Accounting for Partnership Firms-Fundamentals
Exercises | Q 35 | पृष्ठ १०४

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