Himanshu Withdrews Rs 2,500 at the End Month of Each Month - Bzziii.com

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Himanshu withdrews Rs 2,500 at the end Month of each month. The Partnership deed provides for charging the interest on drawings @ 12% p.a. Calculate interest on Himanshu’s drawings for the year ending 31st December, 2017





Calculations for Himanshu's Total Drawing 

= Rs 2,500 × 12 

= Rs 30,000

Interest on Drawing = Total Drawings `\times` `"Rate"/"100"` `\times` `frac{11}{2\times12}`

= Rs. 30,000 `\times` `"Rate"/"100"` `\times` `frac{11}{2\times12}`

= RS. 1,650




Chapter-2 Partnership Basic: Accounts



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