Question 14 Chapter 2 – Unimax Class 12 Part 1 – 2021

Question 14Cha0pter 2 - Unimax Class 12 Part 1 - 2021

Question 14 Chapter 2 – Unimax Class 12 Part 1

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Amount Withdrawn (Rs.)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 Withdrawn Months Product (Rs.)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)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

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