Give the average period, in months, for charging interest on drawings of a fixed amount withdrawn at the beginning of each quarter. Post category:Accountancy Reading time:1 mins read SOLUTION 7.5 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more articles Previous PostGive the average period, in months, for charging interest on drawings of a fixed amount, withdrawn at the end of each quarter.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) Next PostTom and Harry were partners in a firm sharing profits in the ratio of 5: 3. During the year ended 31st March, 2015 Tom had withdrawn Rs. 40,000. Interest on his drawings amounted to Rs. 2,000. Pass necessary Journal entry for charging interest on drawings assuming that the capitals of the partners were fluctuating. (AI 2016) You Might Also Like Dividend paid by a Trading or Manufacturing Company is classified under which kind of activity while preparing Cash flow statement? October 6, 2022 State with reason whether repayment of long-term loan will result in increase, decrease or no change of debt-equity ratio. October 3, 2022 Ashok and Bhaskar are partners in a firm sharing profits in the ratio of 3: 2. They admitted Chaman as a partner for 1/4th share of profits. At the time of admission of Chaman, Debtors and Provision for Doubtful Debts appeared at Rs. 76,000 and Rs. 8,000 respectively. Rs. 6,000 of the debtors proved bad. A provision of 5% is to be created on Sundry Debtors for doubtful debts. Pass the necessary Journal entries. November 3, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Dividend paid by a Trading or Manufacturing Company is classified under which kind of activity while preparing Cash flow statement? October 6, 2022
State with reason whether repayment of long-term loan will result in increase, decrease or no change of debt-equity ratio. October 3, 2022
Ashok and Bhaskar are partners in a firm sharing profits in the ratio of 3: 2. They admitted Chaman as a partner for 1/4th share of profits. At the time of admission of Chaman, Debtors and Provision for Doubtful Debts appeared at Rs. 76,000 and Rs. 8,000 respectively. Rs. 6,000 of the debtors proved bad. A provision of 5% is to be created on Sundry Debtors for doubtful debts. Pass the necessary Journal entries. November 3, 2022
