Question

In a partnership firm a partner withdrew 5000 per month on the first day of every month during the year of personal expenses .if interest on drawing is charged @ 6% p.a ., The interest charge will be

Answer 1

Answer:

60975

Explanation:

5000*12*13*6÷2*24*100 =975

5000*12+975=60975

Answer 2

The interest charge will be 23,400

Explanation:

The computation of the interest charge is shown below:

= Withdrawn amount per month × total number of months in a year × thirteen months ÷ two × interest on drawings

= 5,000 × 12 months × 13 months ÷ 2 × 6%

= 23,400

When the partner has withdrawn per month on the first day of every month so 13 by 2 months are considered and the same is to be taken for the computation part

Learn more

Where there is no provision in the partnership Deed regarding the dissolution of partnership, the firm is

known as .......

(a) Indefinite partnership (b) Partnership at will

(c) General partnership (d) Contingent partnership

https://brainly.in/question/5615081

Types of partnership and explain the partnership

https://brainly.in/question/1760720