Harish is a partner in a firm. He withdrew the following amounts during the year 2019
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]
Anurag Pathak Changed status to publish March 25, 2024
Solution:-
Note: The date of drawings is not given, I have assumed the beginning of the month.
Anurag Pathak Changed status to publish March 25, 2024
