B and C are partners sharing profits equally. C regularly withdrew ₹ 5,000 per month in the beginning of the month for six months ended 30th September 2022. Calculate interest on drawings @ 12% p.a. for the year ended 31st March 2023.

[Ans: Interest on Drawings – ₹ 2,850]

[Hint: Interest on drawings will be charged for 9.5 months on total drawings.]

Anurag Pathak Changed status to publish April 11, 2024
Add a Comment