Question-A &B are partners in a business During the course of 2020,A withdrew Rs 12000 ,while B withdrew Rs 6000 aut of the business for personal use. Interest on Drawings is to be charged at 10% pa. You are required to Calculate the amount of interest on Drawings assuming that: )Drawings were made in the middle of each month Drawings were made in the first of each month Drawings were made on the last date of each month.

Question-A &B are partners in a business During the course of 2020,A withdrew Rs 12000 ,while B withdrew Rs 6000 aut of the business for personal use. Interest on Drawings is to be charged at 10% pa. You are required to Calculate the amount of interest on Drawings assuming that: )Drawings were made in the middle of each month Drawings were made in the first of each month Drawings were made on the last date of each month.

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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