Question 28 Chapter 2 of Class 12 Part – 1 Usha Publication

Question 28 Chapter 2 of Class 12 Part – 1 Usha Publication

28. (Interest on Drawings/Evenly throughout the year) A and B are partners in a firm. They share profits and losses in the ratio of 3:2. As per their partnership agreement, interest on drawings is to be charged @10% p.a. Their drawings during 2016-17 were Rs.24,000 and Rs. 16,000 respectively.
Calculate interest on drawings based on the assumption that the amounts were withdrawn evenly throughout the year.

The solution of Question 28 Chapter 2 of Class 12 Part – 1 Usha Publication: -

We are providing a solution of Question 28 Chapter 2 of Class 12 Part - 1 Usha Publication in two formats. one is in Video format and another is in article format. Check out both formats as follows:

1. Check out the Solution of this question in Video Format:-

The video consists solution of questions numbers 28 to 33 Chapter No. 2 class 12 of Usha publication. To check the direct solution of question no. 28 from the following video by using time stamps of the video.

?si=c76NhZw2Hw8riWf0

2. Check out the Solution of this question in Article Format: -

Interest on Drawings:

A : 24,000 X 10/100 X 6/12 = Rs. 1,200
B : 16,000 X 10/100 X 6/12 = Rs. 800
Note: When the date of drawings is not mentioned, interest is always charged on average basis.