Give the average period, in months, for charging interest on drawings of a fixed amount, withdrawn at the end of each quarter. (C.B.S.E. 2020 C) Post category:Accountancy Reading time:1 mins read SOLUTION 4.5 Months. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostDev withdrew Rs. 10,000 on 15th day of every month. Interest on drawings was to be charged @ 12% per annum. Calculate interest on Dev’s drawings. (C.B.S.E. 2019) Next PostGive the average period, in months, for charging interest on drawings of a fixed amount withdrawn at the beginning of each quarter. You Might Also Like Net Profit before Interest and Tax Rs. 4,00,000; 15% Long-term Debt Rs. 8,00,000; Shareholders’ Funds Rs. 4,00,000. Calculate Return on Investment. August 17, 2022 From the following information, determine Opening and Closing inventories: Inventory Turnover Ratio 5 Times, Total sales Rs. 2,00,000, Gross Profit Ratio 25%. Closing Inventory is more by Rs. 4,000 than the Opening Inventory. August 13, 2022 At the time of dissolution of a partnership firm, the book value of sundry assets transferred to Realisation Account was Rs. 2,00,000. 50% of these sundry assets were taken by partner A at 20% discount, 40% of remaining assets were sold at a profit of 30% on cost. 5% of the balance was found obsolete and realised nothing. The remaining assets were taken over by a creditor in full settlement of his claim. Pass necessary Journal entries for the above. (C.B.S.E. 2019) October 8, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Net Profit before Interest and Tax Rs. 4,00,000; 15% Long-term Debt Rs. 8,00,000; Shareholders’ Funds Rs. 4,00,000. Calculate Return on Investment. August 17, 2022
From the following information, determine Opening and Closing inventories: Inventory Turnover Ratio 5 Times, Total sales Rs. 2,00,000, Gross Profit Ratio 25%. Closing Inventory is more by Rs. 4,000 than the Opening Inventory. August 13, 2022
At the time of dissolution of a partnership firm, the book value of sundry assets transferred to Realisation Account was Rs. 2,00,000. 50% of these sundry assets were taken by partner A at 20% discount, 40% of remaining assets were sold at a profit of 30% on cost. 5% of the balance was found obsolete and realised nothing. The remaining assets were taken over by a creditor in full settlement of his claim. Pass necessary Journal entries for the above. (C.B.S.E. 2019) October 8, 2022
