[NCERT] Q 20 Accounting for Partnership Basic Concepts Solutions Class 12
Solution of Question number 20 of Accounting for Partnership Basic Concepts NCERT Accountancy solution Class 12 CBSE Board
Rakesh and Roshan are partners, sharing profits in the ratio of 3 : 2 with capitals of ₹ 40,000 and ₹ 30,000 respectively. They withdrew from the firm the following amounts, for their personal use:
| Rakesh | Month | ₹ |
| May 31, 2019 June 30, 2019 August 31, 2019 December 31, 2019 January 31, 2020 March 01, 2020 | 600 500 1,000 400 1,500 300 700 | |
| Rohan | At the beginning of each month | 400 |
Interest on drawings is to be charged @ 6% p.a. Calculate interest on drawings, assuming that book of accounts are closed on March 31, 2017, every year.
[Ans: Interest on Rakesh’s Drawings: ₹ 126.50; Rohan’s Drawings ₹ 156 rounded off to nearest rupee)
Solution:-
