Question

A and B are partners in a firm. During the year ended on 31st march 2019, A makes the drawings as under: Date of Drawings Amount Rs. 1/8/18 4000 31/12/18 8000 31/3/19 12000 Partnership deed provided that partners are to be charged interest on drawings @ 12% p.a... Calculate the interest on drawings of A under product method.

Answer 1

Explanation:

drawings @9% p.a. has been omitted from the books. the partners xy and z withdraw rs 10000 rs 15000 and rs 5000 ...