Question 15 Chapter 2 - Unimax Class 12 Part 1 - 2021

Question 15 Chapter 2 – Unimax Class 12 Part 1

Table of Contents

15. Partner Z withdrew Rs. 47000 during the year. Calculate interest on drawings if rate of interest on drawings is 10% per annum.

The solution of Question 15 Chapter 2 – Unimax Class 12 Part 1:

Drawings = Rs. 47,000
Interest on drawings = Rs. 47,000 x 10% x 6/12

= Rs. 2350

Note: When the date of drawings is not given, interest is provided for half the year.

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 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