Question

their
Ques.21 Mr. Yash & Mr. Harsh are partners in a firm. They drawn the 8 followi
firm during the year ended 31.03.2015:
Date
Amount (Rs.) Drawn by
01.05.2014
75,000
Yash
30.06.2014 20,000
Yash
14.08.2014 60,000
Harsh
31.12.2014 50,000
Harsh
04.03.2015 75,000
Harsh
31.03.2015 15,000
Yash
Interest is charged @ 10% p.a. on all drawings. Calculate Interest chargeab
using Average due date system. (Consider 1st May as base date)

Answer 1

Answer:

yash - 8378.08

harsh - 5575.34