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प्रश्न
Kevin and Francis are partners. Kevin draws ₹ 5,000 at the end of each quarter. Interest on drawings is chargeable at 6% p.a. Calculate interest on drawings for the year ending 31st March 2019 using the average period.
उत्तर
Total amount of drawings: 5000 × 4 = 20,000
Interest on drawings = Amount × Rate of Interest × `"Average period"/12`
= `20,000 xx 6/100 xx 4.5/12`
= ₹ 450
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संबंधित प्रश्न
When a partner withdraws regularly a fixed sum of money at the middle of every month, the period for which interest is to be calculated on the drawings on an average is ___________.
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Balance sheet as on 31st December, 2018
| Liabilities | ₹ | ₹ | Assets | ₹ |
| Capital accounts: | Fixed assets | 70,000 | ||
| Subha | 40,000 | Current assets | 50,000 | |
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| Current liabilities | 20,000 | |||
| 1,20,000 | 1,20,000 |
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