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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![12:03 PM
4G 33%
29.01.2021.pdf
Date :29.01.2021
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:
i)Drawings were made in the middle of each month.
ii)Drawings were made in the first of each month.
iii)Drawings were made on the last date of each month.
W Edit with WPS omce
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Transcribed Image Text:12:03 PM
4G 33%
29.01.2021.pdf
Date :29.01.2021
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:
i)Drawings were made in the middle of each month.
ii)Drawings were made in the first of each month.
iii)Drawings were made on the last date of each month.
W Edit with WPS omce
...
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