Question 40 Chapter 2 of Class 12 Part – 1 VK Publication

Question 40 Chapter 2 of Class 12 Part - 1 VK Publication

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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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

Chapter No. 5 – Cash Flow Statement