Question

Mritya and Patil are partners in a firm sharing profits and losses in the ratio of 3 is to 2 mritya withdrawal 4,000 quarterly at the beginning of each quarter calculate the interest on drawings at 9% per annum for the year ending 31st 3 2017 under product method this question answer

Answer 1

Answer:

Calculation of interest on drawings:

X=15,000×9%×

12

6.5

=731.25

Y=8,500×9%×

12

8

=510

=10,000×9%×

12

2.5

=187.5

_________

697.5

__________

Z=2,500×12×9%×−

12

5.5

=1,237.5