Question 18 Chapter 2 – Unimax Class 12 Part 1
Table of Contents
18. Find out interest on drawings at 5% per annum for partner Raman, who withdrew Rs. 600 at the end of every month for six months ending on 31st March, 2021.
The solution of Question 18 Chapter 2 – Unimax Class 12 Part 1:
| Date of Drawings | Amount (Rs.) Withdrawn | Months | Product |
| 31st Oct., 2005 | 600 | 5 | 3000 |
| 30th Nov., 2005 | 600 | 4 | 2400 |
| 31st Dec., 2005 | 600 | 3 | 1800 |
| 31st Jan., 2006 | 600 | 2 | 1200 |
| 28th Feb., 2006 | 600 | 1 | 600 |
| 31st March., 2006 | 600 | 0 | 0 |
| 9,000 |
Interest on Rs. 9,000 @ 5% p.a. for one month = 9000 x 5% x 1/12
= Rs. 37.50
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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