[NCERT] Q 18 Accounting for Partnership Basic Concepts Solutions Class 12 (2022-23)

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Solutions of Question number 18 of Accounting for Partnership Basic Concepts NCERT Accountancy solutions Class 12 CBSE Board 2022-23 Session?

Rishi is a partner in a firm. He withdrew the following amounts during the year ended March 31, 2020.

May 01, 2019₹ 12,000
July 31, 2019₹ 6,000
September 30, 2019₹ 9,000
November 30, 2019₹ 12,000
January 01, 2020₹ 8,000
March 31, 2020₹ 7,000

Interest on drawings is charged @ 9% p.a.

Calculate Interest on drawings

[Ans: Interest on Drawings ₹ 2,295]

Solution:-

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