Question

• Calculation of Interest on Drawings personal expenses. According to partnership deed, interest on drawings is charged 4. Raman and Baban are partner's in a firm Raman withdraws 7 2,000 per month for his (a) In the beginning of the month. @ 10% per annum. Calculate the interest on Raman's drawings, if drawings is made (b) At the end of the month. (c) In the middle of the month.​

Answer 1

Answer:

As per the partnership deed, interest on drawings is charged at 12% p.a. During the year ended 31st December 2018 he drew as follows: Calculate the amount of interest on drawings by using product method.