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How is interest on drawings on unequal amounts drawn at unequal intervals calculated?

Anurag Pathak
April 9, 2023
[CBSE] Fundamentals of Partnership Firm, Accountancy Class 12th

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Anurag Pathak28.37K April 9, 2023 0 Comments

How is interest on drawings on unequal amounts drawn at unequal intervals calculated?

Anurag Pathak Changed status to publish April 9, 2023

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Anurag Pathak28.37K Posted April 9, 2023 0 Comments

Answer:-

When the dates of drawings are given and the interest is to be charged at an agreed rate per annum, interest will be calculated on the basis of time.

Anurag Pathak Changed status to publish April 9, 2023

Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his youtube channel and can download the Android & ios app for free lectures.