Question

Q. 32. A and B are partners sharing profits and losses equally with capitals of
13,00,000 and $2,00,000 respectively. Their drawings during the year ending on 31st
March, 2021 are as follows:
₹
A's drawings on
30-06-2020
20,000
31-07-2020
10,000
01-10-2020
10,000
01-03-2021
16,000
B drew 6,000 at the end of each month. The deed provides interest on capitals
and drawings at 10% p.a. Calculate interest on capitals and drawings.
[Ans. Interest on Capitals A 30,000; B 20,000, Interest on Drawings A *2,800;
B33,300.]​

Answer 1

Answer:

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