Advertisement

Question 36 Chapter 2 of Class 12 Part – 1 VK Publication

Question 36 Chapter 2 of Class 12 Part - 1 VK Publication
Question 36 Chapter 2 of Class 12 Part - 1 VK Publication

Advertisement

Question 36 Chapter 2 of Class 12 Part – 1

Advertisement

36.Ram, Sam and Pam are partners in a firm who made drawings of Rs. 15,000 each in the beginning, middle and end of each quarter respectively during the last year. Interest on Drawings are to be changed at 6 % p.a. Calculate interest on Partner’s drawings.

The solution of Question 36 Chapter 2 of Class 12 Part – 1: –

Total Drawings of each partner = Rs. 15,000 x 4= Rs. 60,000
Interest on Ram’s drawings made in the beginning of each quarter

Interest on Drawing=Total DrawingXRateX7.5
10012
Interest on Drawing=60,000X6X7.5
10012

Interest on Drawing = Rs. 2,250

Advertisement-X

Interest on Sam’s drawings made in the middle of each quarter

Interest on Drawing=60,000X6X7
10012

Interest on Drawing = Rs. 1,800

Interest on Pam’s drawings made at the end of each quarter

Interest on Drawing=60,000X6X4.5
10012

Interest on Drawing = Rs. 1,350

Thanks, Please Like and share with your friends  

Comment if you have any questions.

Advertisement-X

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)

Advertisement-X

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

Advertisement-X

Advertisement-Y

Chapter No. 2 – Financial Statement Analysis

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

Chapter No. 4 – Ratio Analysis

Chapter No. 5 – Cash Flow Statement

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

+2 Book 1-min
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms 

Advertisement

Advertisement

error: Content is protected !!