Question

2. Chhavi and Neha were partners in a
firm sharing profits and losses equally.
Chhavi withdrew a fixed amount at the
beginning of each quarter. Interest on
drawings is charged @ 6% p.a. At the
end of the year, interest on Chhavi's
drawings amounted to * 900. Pass
necessary journal entry for charging
interest on drawings. Delhi 2019​

Answer 1

Answer:

firm sharing profits and losses equally.

Chhavi withdrew a fixed amount at the

beginning of each quarter. Interest on

drawings is charged @ 6% p.a. At the

end of the year, interest on Chhavi's

drawings amounted to * 90

Explanation:

firm sharing profits and losses equally.

Chhavi withdrew a fixed amount at the

beginning of each quarter. Interest on

drawings is charged @ 6% p.a. At the

end of the year, interest on Chhavi's

drawings amounted to * 90