Bharam is a Partner in a Firm. He Withdraws Rs 3,000 at the Starting of Each Month for 12 Months - Bharam

Bharam is a partner in a firm. He withdraws Rs 3,000 at the starting of each month for 12 months. The books of the firm closes on March 31 every year. Calculate interest on drawings if the rate of interest is 10% p.a.





 Total Drwing of Bharam = Rs. 3,000 `\times` 12

= Rs. 36,000

Interest on Drawing = Total Drawings `\times` `"Rate"/"100"` `\times` `frac{13}{2\times12}`

Interest on Drawing = 36,000 `\times` `"10"/"100"` `\times` `frac{13}{2\times12}`

= Rs. 1,950.

 



Comments

Popular posts from this blog

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

Chapter 2 - Accounting for Partnership Firms-Fundamentals - Solutions for Class 12 Accountancy