[NCERT] Q 25 Accounting for Partnership Basic Concepts Solutions Class 12 (2022-23)
Solution of Question number 25 of Accounting for Partnership Basic Concepts NCERT Accountancy solution Class 12 CBSE Board 2022-23 Session?
Harish is a partner in a firm. He withdrew the following amounts during the year 2019:
| ₹ | |
| May 2019 | 4,000 |
| August 2019 | 12,000 |
| September 2019 | 4,000 |
| December 2019 | 12,000 |
| March 2020 | 4,000 |
Interest on drawings is to be charged @ 7 and 1/2% p.a.
Calculate the amount of interest to be charged on Harish’s drawings for the year ending December 31, 2020.
[Ans: Interest on Drawings, ₹ 1,800]
Solution:-
Note:- The date of the drawings is not given. I have assumed the beginning of the month.
