# Question 33 Chapter 2 of Class 12 Part – 1 VK Publication

Question 33 Chapter 2 of Class 12 Part - 1 VK Publication

Question 33 Chapter 2 of Class 12 Part – 1

33. A is a partner in a firm for the year ended 31st March, 2018. A’s drawings were:

 1st June., 2017 Rs. 1,000 1st Dec., 2017 Rs. 500 1st August, 2017 Rs. 750 1st Feb., 2018 Rs. 500 1st October, 2017 Rs. 1,250 1st Mar., 2018 Rs. 500

Interest on drawings is charged @ 10% per annum. Calculate interest on drawings of A.

## The solution of Question 33 Chapter 2 of Class 12 Part – 1: –

(i)

Simple Method

 Date Amount Periods (months) Product  ₹ (Amount X month) 1st June., 2017 1,000 10 10,000 1st August, 2017 750 8 6,000 1st October, 2017 1,250 6 7,500 1st Dec., 2017 500 4 2,000 1st Feb., 2018 500 2 1,000 1st Mar., 2018 500 1 500 Total of Products 27,000

Interest on Drawings= Total of Products ×rate/100×1/12
= 3,60,000 ×10/100×1/12 = Rs. 225

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Also, Check out the solved question of all Chapters: –

## Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Chapter No. 1 – Accounting Not for Profit Organisations

Chapter No. 2 – Partnership Accounts – I (Introduction)

Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)

Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)

Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)

Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)

Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)

Chapter No. 8 – Company Accounts (Share Capital)

Chapter No. 9 – Company Accounts (Issue of Debentures)

Chapter No. 10 – Company Accounts (Redemption of Debentures)

## Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

Chapter No. 1 – Financial Statements of a Company

Chapter No. 2 – Financial Statement Analysis

Chapter No. 3 –  Tools of Financial Statement Analysis- Comparative and Common Size

Chapter No. 4 – Ratio Analysis