Mina, Shina, and Tina are in partnership and during the year ended 31st March 2023 earn a profit of ₹ 1,04,000. Mina and Shina are to get 5% p.a. interest on their capitals of ₹ 1,20,000 and ₹ 2,00,000 respectively
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Amar and Anthony are partners in a firm. Amar is entitled to a salary of ₹ 20,000 per month and a commission of 10% of the net profit before charging any commission
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Harish, Paresh, and Ramesh are partners and withdrew ₹ 12,000 per month on regular basis for the first six months of the financial year. Harish withdrew at the beginning of the month
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Calculate the interest on Amar’s drawings @ 5% if he withdrew ₹ 5,00,000 during the year.
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Calculate the interest on drawings of Raj @ 5% p.a. for the year ended 31st March 2023 in each of the following alternatives cases
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Akshay and Rajesh are partners sharing profits and losses equally with capitals of ₹ 3,00,000 and ₹ 2,00,000 respectively. Their drawings during the year are: Akshya’s drawings on:
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Gian, Rajat, and Bishan are partners sharing profits equally. Gian drew regularly ₹ 10,000 in the beginning of every month for six months 30th September
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Calculate interest on the drawings of Mahesh @ 5% p.a. for the year ended 31st March 2023 in each of the following alternatives cases:
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A partner makes drawings of ₹ 2,500 per month. As per the Partnership Deed, interest is to be charged @ 6% p.a. What is the interest that would be charged to the partner if the drawings are made:
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Ram and Shyam are partners sharing profits equally. Ram drew regularly ₹ 4,000 at the end of every month starting from 31st October 2022 for six months ending 31st March
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