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Solution no. 45 of chapter 1 : Partnership Fundamentals of TS Grewal edition 2023
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Solution no. 45 of chapter 1 : Partnership Fundamentals of TS Grewal edition 2023
#tishaanddivya
#interestondrawings
#partnershipfundamentals
#interestoncapital
#classxii #accountancy #sethstudycircle #solutionsoftsgrewal
The capital Accounts of Tisha and Divya are showed credit balances of ₹ 10,00,000 and ₹ 7,50,000 respectively after taking into account drawings and net profit of ₹5,00,000. The drawings of the partners during teh year ended 31st March 2024 were:
(i) Tisha withdrew ₹ 25,000 at the end of each quarter
(ii) Divya's drawings were:
31st May, 2023 ₹ 20,000
1st November, 2023 ₹ 17,500
1st February, 2024 ₹ 12,500
Calculate interest on partners' capitals @ 10% p.a. and interest on drawings @6% p.a. for the year ended 31st March, 2024.
#tishaanddivya
#interestondrawings
#partnershipfundamentals
#interestoncapital
#classxii #accountancy #sethstudycircle #solutionsoftsgrewal
The capital Accounts of Tisha and Divya are showed credit balances of ₹ 10,00,000 and ₹ 7,50,000 respectively after taking into account drawings and net profit of ₹5,00,000. The drawings of the partners during teh year ended 31st March 2024 were:
(i) Tisha withdrew ₹ 25,000 at the end of each quarter
(ii) Divya's drawings were:
31st May, 2023 ₹ 20,000
1st November, 2023 ₹ 17,500
1st February, 2024 ₹ 12,500
Calculate interest on partners' capitals @ 10% p.a. and interest on drawings @6% p.a. for the year ended 31st March, 2024.
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