If a fixed amount is withdrawn on the last day of every quarter, for what period the interest on total drawings will be calculated? 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Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostIf a fixed amount is withdrawn on the first day of every quarter, for what period the interest on total drawings will be calculated. (C.B.S.E. Sample Paper 2019) Next PostName the method of calculating interest on Drawings of the Partners if the different amounts are withdrawn on different dates. You Might Also Like What is Trade Payables Turnover Ratio? October 3, 2022 Naresh and Sukesh are partners with capitals of Rs. 3,00,000 each as on 31st March, 2019. Naresh had withdrawn Rs. 50,000 against capital on 1st October, 2018 and also Rs. 1,00,000 besides the drawings against capital. Sukesh also had drawings of Rs. 1,00,000. Interest on capital is to be allowed @ 10% p.a. Net profit for the year was Rs. 2,00,000, which is yet to be distributed. Pass the Journal entries for interest on capital and distribution of profit. July 21, 2022 Bale and Yale are equal partners of a firm. They decide to dissolve their partnership on 31st March, 2019 at which date their Balance Sheet stood as: July 25, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Naresh and Sukesh are partners with capitals of Rs. 3,00,000 each as on 31st March, 2019. Naresh had withdrawn Rs. 50,000 against capital on 1st October, 2018 and also Rs. 1,00,000 besides the drawings against capital. Sukesh also had drawings of Rs. 1,00,000. Interest on capital is to be allowed @ 10% p.a. Net profit for the year was Rs. 2,00,000, which is yet to be distributed. Pass the Journal entries for interest on capital and distribution of profit. July 21, 2022
Bale and Yale are equal partners of a firm. They decide to dissolve their partnership on 31st March, 2019 at which date their Balance Sheet stood as: July 25, 2022
