Rakesh and Roshan are partners, sharing profits in the ratio of 3 : 2 with capitals of ₹ 40,000 and ₹ 30,000 respectively
Rakesh and Roshan are partners, sharing profits in the ratio of 3 : 2 with capitals of ₹ 40,000 and ₹ 30,000 respectively. They withdrew from the firm the following amounts, for their personal use:
| Rakesh | Month | ₹ |
|
May 31, 2019 June 30, 2019 August 31, 2019 December 31, 2019 January 31, 2020 March 01, 2020 |
600 500 1,000 400 1,500 300 700 |
|
| Rohan | At the beginning of each month | 400 |
Interest on drawings is to be charged @ 6% p.a. Calculate interest on drawings, assuming that book of accounts are closed on March 31, 2017, every year.
[Ans: Interest on Rakesh’s Drawings: ₹ 126.50; Rohan’s Drawings ₹ 156 rounded off to nearest rupee]
Anurag Pathak Changed status to publish March 24, 2024
