Question 17 Chapter 2 – Unimax Class 12 Part 1
Table of Contents
17. Ram withdrew Rs. 1500 at the end of each quarter during the year ended 31st March, 2021. Interest on drawings is charged @ 9% per annum. Find out interest on drawings. Also give Journal Entry.
The solution of Question 17 Chapter 2 – Unimax Class 12 Part 1:
| Date of Drawings | Amount (Rs.) Withdrawn | Months | Product |
| 30th June, 2005 | 1500 | 9 | 13500 |
| 30th Sept., 2005 | 1500 | 6 | 9000 |
| 31st Dec., 2005 | 1500 | 3 | 4500 |
| 31st March, 2006 | 1500 | 0 | 0 |
| 27,000 |
Interest on Rs. 27,000 @ 9% p.a. for one month = 27000 x 9% x 1/12
= Rs. 202.50
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
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