Question 18 Chapter 2 – Unimax Class 12 Part 1 – 2021

Question 18 Chapter 2 - Unimax Class 12 Part 1 - 2021

Question 18 Chapter 2 – Unimax Class 12 Part 1

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 Withdrawn Months Product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)

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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