Question

Yashas and Abhi are partners in a firm, sharing profit and losses in the ratio of 2 : 1. Yashas
withdrew the following amounts during the year 17-18.
Rs. 4,000 on 1.6.2017
Rs. 1,000 on 30.9.2017
Rs. 6,000 on 30.11.2017
Rs. 12,000 on 1.1.2018
Interest on drawings to be charged at 8% p.a.
Calculate the amount of interest to be charged on Yashas drawings.​

Answer 1

4000+1000+6000+12000 = 23000

Drawing A/c dr 1840

To IOD A/c 1840