Question 40 Chapter 2 of Class 12 Part – 1
40. Ram and Mohan, two partners, drew for private use Rs. 1,20,000 and Rs. 80,000 respectively,
Interest is chargeable @ 6% per annum on the drawings. What is the interest?
The solution of Question 40 Chapter 2 of Class 12 Part – 1: –
| Interest on Drawing | = | Total Drawing | X | Rate | X | Months |
| 100 | 12 |
| Ram | = | 1,20,000 | X | 6 | X | 6 |
| 100 | 12 |
= Rs.3,600
| Mohan | = | 80,000 | X | 6 | X | 6 |
| 100 | 12 |
= Rs. 2,400
Note: When the date of drawings is not given, interest on drawings is calculated on the total amount of drawings for an average period of 6 months.
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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
Chapter No. 5 – Cash Flow Statement
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