Pramod is a partner in a firm he withdraw 6,000 in the beginning of each quarter during the year ended 31 march 2019 interest on his drawing@ 10 per annum
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Pramod is a partner in a firm he withdrew 6,000 in the beginning of each quarter during the year ended 31st march 2019 interest on his drawings @10% per annum
we know that there are 4 quarters in a financial year.
now.
total drawings=4x6000
=24000
interest= 10%
interest on drawings=24000*10%
=2400
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