A partner has withdrawn the following sum of money during the half year ended June 30, 2016. Months Date Rs. January 10 2,000 February 18 1,200 March 4 600 April 12 800 May 21 1,000 June 1 600 Find out the average due date and calculate the interest to be charged at the rate of 10% p.a for the half year ending June 30,2016.

A partner has withdrawn the following sum of money during the half year ended June 30, 2016. Months Date Rs. January 10 2,000 February 18 1,200 March 4 600 April 12 800 May 21 1,000 June 1 600 Find out the average due date and calculate the interest to be charged at the rate of 10% p.a for the half year ending June 30,2016.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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