Question 14 Chapter 2 – Unimax Class 12 Part 1
Table of Contents
14. Partner Y’s drawings along with date of drawings are given below. Calculate interest on drawings for year ended 31st Dec., 2021 if rate of interest on drawings is 8% per annum.
Amount Withdrawn (Rs.) | Date |
1500 | 1st February, 2021 |
3500 | 30th April, 2021 |
2000 | 16th July, 2021 |
20000 | 30th September, 2021 |
3000 | 31st December, 2021 |
The solution of Question 14 Chapter 2 – Unimax Class 12 Part 1:
Date 2006 | Amount (Rs.) Withdrawn | Months | Product (Rs.) |
1st February | 1500 | 11 | 16500 |
30th April | 1500 | 8 | 28000 |
16th July | 2000 | 5.5 | 11000 |
30th September | 20000 | 3 | 60000 |
31st December | 3000 | 0 | 0 |
115500 |
Interest on Rs. 115500 @ 8% p.a. for one month = 115500 x 8% x1/12
= Rs. 770
https://tutorstips.com/not-for-profit-organisations/
T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)
- Chapter No. 1 – Financial Statement of Not-For-Profit Organisations
- Chapter No. 2 – Accounting for Partnership Firms – Fundamentals
- Chapter No. 3 – Goodwill: Nature and Valuation
- Chapter No. 4 – Change in Profit-Sharing Ratio Among the Existing Partners
- Chapter No. 5 – Admission of a Partner
- Chapter No. 6 – Retirement/Death of a Partner
- Chapter No. 7 – Dissolution of a Partnership Firm
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 8 – Company Accounts – Accounting for Share Capital
- Chapter No. 9 – Company Accounts – Issue of Debentures
- Chapter No. 10 – Redemption of Debentures
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis – Comparative Statements and Common- Size Statements
- Chapter No. 4 – Accounting Ratios
- Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
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