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प्रश्न
Harish is a partner in a firm. He withdrew the following amounts during the year 2017 :
|
|
Rs |
|
February 01 |
4,000 |
|
May 01 |
10,000 |
|
June 30 |
4,000 |
|
October 31 |
12,000 |
|
December 31 |
4,000 |
Interest on drawings is to be charged @ 7.5 % p.a.
Calculate the amount of interest to be charged on Harish’s drawings for the year ending December 31, 2017.
उत्तर
Calculation of interest on Harish’s drawings
|
|
Drawings × Period |
Product |
|
01 Feb. 17 to 31 Dec. 17 |
4,000 × 11 = |
44,000 |
|
01 May 17 to 31 Dec. 17 |
10,000 × 8 = |
80,000 |
|
30 June 17 to 31 Dec. 17 |
4,000 × 6 = |
24,000 |
|
31 Oct. 17 to 31 Dec. 17 |
12,000× 2 = |
24,000 |
|
31 Dec. 17 to 31 Dec. 17 |
4,000 × 0 = |
0 |
|
|
Sum of Product |
1,72,000 |
Interest on drawings = `1,72,000 × 7.5/100 xx 1/12 = "Rs" 1075`
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संबंधित प्रश्न
Sukesh and Vanita were partners in a firm. Their partnership agreement provides that:
- Profits would be shared by Sukesh and Vanita in the ratio of 3:2;
- 5% interest is to be allowed on capital;
- Vanita should be paid a monthly salary of Rs 600.
The following balances are extracted from the books of the firm on March 31, 2017.
|
|
Sukesh (Rs) |
Verma* (Rs) |
|
Capital Accounts |
40,000 |
40,000 |
|
Current Accounts |
(Cr.) 7,200 |
(Cr.) 2,800 |
|
Drawings |
10,850 |
8,150 |
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|
Sukesh |
Verma |
|
| Capital Accounts |
40,000 |
40,000 |
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| Drawings (Cr.) | 10,850 | 8,150 |
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|
Balance Sheet as at March 31, 2017 |
|||
|
|
Amount |
|
Amount |
|
Liabilities |
Rs |
Assets |
Rs |
|
Neelkant’s Capital |
10,00,000 |
Sundry Assets |
30,00,000 |
|
Mahadev’s Capital |
10,00,000 |
|
|
|
Neelkant’s Current Account |
1,00,000 |
|
|
|
Mahadev’s Current Account |
1,00,000 |
|
|
|
Profit and Loss Apprpriation |
|
|
|
|
(March 2017) |
8,00,000 |
|
|
|
|
30,00,000 |
|
30,00,000 |
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