Question

How to calculate drawings purchase??​

Answer 1

Step-by-step explanation:

Calculation of Drawing Power

It is calculated by considering the total value of paid stock (Paid stock=Stock fewer Creditors) plus book debts (not more than 90 days old) and deducting margin from the same. In most of the cases, debtors up to 90 days are considered for calculating DP.

Answer 2

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• Case I: Drawing made on begnning of each quarter interest on drawing = Amount x Rate/100 x 7.5/12 = 48,000 x 10/100 x 7.5/12 = Rs.3,000
• Case II: Drawing made in middle of each quarter interest on drawing = Amount x Rate/100 x 6/12 = 48,000 x 10/100 x 6/12 = Rs.2,400
• Case III Drawings made at end of each quarter interest on drawing = Amount x Rate/100 x 4.5/12 = 48,000x10/100 x 4.5/12 = Rs.1800

Similarly Interest can be calculated by following formulas:

Half yearly Drawings for year when:

• Drawings are made in the begnning of each period (halfyear) interest on drawing = Amount x Rate/100 x 9/12
• Drawings are made in the middle of each period (half year) interes on drawing = Amount x Rate/100 x 6/12
• Drawings are made at the end of each period (half year) interest on drawing = Amount x Rate/100 x 3/12

For monthly drawings for 6 months:

• Drawings are made in beginning of each month Interest = Amount x Rate/100 x 3.5/12.

When drawings are made in the middle of each month interest = Amount x Rate/100 x 3/12.

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