[ISC] Q. 43 Solution of Fundamentals of Partnership Firms TS Grewal Book (2024-25)

Solution of Question number 43 of the Fundamentals of Partnership Accounts (Firm) chapter TS Grewal Book 2024-25 Edition ISC Board.

Raj and Kiran are in partnership from 1st June, 2023 with capitals of ₹ 6,00,000 and ₹ 4,00,000 respectively. Raj withdrew same amount in the beginning of every month starting July, 2023. Interest on drawings of Raj @ 5% p.a. for the year ended 31st March, 2024 was ₹ 2,400. Determine the amount withdrawn each month by Raj.

Solution:-

Note:- As the partnership firm started from 1st July. there are only 9 withdrawal up to 31st March.

Calculate of Average Months

Months remaining after 1st Drawings (after 1st July) + Months remaining after last drawings (after 1st March)/2

9 + 1/2 = 5 Months

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