[NCERT] Q 25 Accounting for Partnership Basic Concepts Solutions Class 12 (2022-23)

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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 20194,000
August 201912,000
September 20194,000
December 201912,000
March 20204,000

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:-

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