[ISC] Q. 40 Solution of Fundamentals of Partnership Firms TS Grewal Book (2024-25)

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Solution of Question number 40 of the Fundamentals of Partnership Accounts (Firm) chapter TS Grewal Book 2024-25 Edition ISC Board.

Calculate the interest on drawings of Raj @ 5% p.a. for the year ended 31st March 2024 in each of the following alternatives cases:

Case 1. If his drawings during the year were ₹ 60,000.

Case 2. If he withdraws ₹ 5,000 per month during the year.

Solution:-

Note:- In the absence of date and time. the interest on drawings is charged for an average of 6 months.

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