Question

During the year each partner drew @ 3000 at the end of
each quarter for a total of 9000. The date of their first drawings were on 1.4.17
Show profit & loss appropriation A/c for the year ended 31.12.17.
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Answer 1

interest on drawings = 9000 x 4.5/12 x 8%

4.5 is taken because money is drawn at the beginning of the year

answer = 270

Answer 2

hope this answer will help you.