Fundamentals - Partnership | Interest on drawings | Class 12 | Must watch | Part 6

Fundamentals - Partnership | Interest on drawings | Class 12 | Must watch | Part 6

[yashnimbarte]

Rajat sir's love for Chintu & Chinti is never ending 😂

[bhumikars]

Sir I proudly want to say that I am loving commerce only because of Your lectures are so clear that nobody can forget them throughout their lives... Sir may you pls upload career guidence on B Com, BBA, B. Hotel Management and BBA+MBA Integrated course

[rashichoudharyy]

Sir when are you going to start 11th commerce fresh course

[shristi.xithc.]

1st best teacher of commerce 🎉🎉 in this whole universe...

[rishikasingh]

As always best lecture ever 😍😍😍😍 lots of love from the batch 2021-2022

[shalinishukla]

Your economics & and accounts videos are too much helpful for the exam's view... 😄

[Darshan-igoz]

Interest on drawings is calculated when partners withdraw money from the firm for personal use. The interest is credited to the Profit and Loss Appropriation Account. There are two methods to calculate interest on drawings: simple method and product method.

You may be interested in these questions:
How is interest on drawings calculated when drawings are made on different dates with different amounts?
What are the different approaches when drawings are made at even intervals throughout the year?
How is the time period determined for calculating interest on drawings made at the beginning, middle, or end of the month?
Key moments
00:12
Understanding interest on drawings is crucial in accounting. It involves calculating interest on personal drawings from a business, impacting profits and losses.
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05:10
Understanding how to calculate interest on different dates and amounts is crucial for financial planning. By following a systematic method, one can efficiently manage withdrawals and interest calculations over time.
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11:07
Understanding the product method involves calculating amounts and time periods based on specific dates. Multiplying amounts by different interest rates for different time periods is crucial for accurate product method calculations.
Click to expand
19:06
Understanding how to calculate interest on drawings is crucial for financial management. Different methods like the simple method and product method can be used for accurate calculations.
Click to expand
23:48
Understanding the difference between monthly and quarterly calculations is crucial for financial calculations. It affects the way interest drawings are calculated in financial statements.
Click to expand

[chitranshmittal]

Thx a lot sir video ke liye u r the best teacher of commerce, 🥰🥰🥰🥰

[Apun]

Sir aapne to ek bar me hi achhe se concept clear kr diya

[ashishdeora]

Rajat sir, college jane se phale ek final request apse. Please Accounts, bst aur eco CUET ke liye one shot le aiye. Apne bola tha ki cuet bhi karvadoge to please one shot daldijiye. Agar hosake to physical education ka bhi. Apke sath parne mai bohot maza a ta hai isliye deleted topics cover karvardo sir.
Thank you Rajat sir.

[luckyvatsside]

Thnx sir mene aaj hi apke video ke 5 part dekhe or next part ka wait kr raha tha tbhi apki new video agyi thnx sir❤❤❤

[abdulrajique]

Sir your teaching Superb👌lajawab🤗pizza, burger😁

[zeenatkousar]

Sir you are the ultra legend sir of the commerce subject 🔥🔥

[RahulSharma-djyk]

We all love commerce king ♥️👑 "RAJAT SIR"😎💯

[shrutigupta]

Thankyou so much sir apne itna easy bana diya accounts

[bunnybun]

Homework Answers ➡
1. IOD via product method = 384000*10/100*1/12=3200( same answer also by Simple method) ✅
2. IOD of Chintu= 120000*10/100*5.5/12=5500 ✅

[arnavshandilyaa]

Man. Aapne kuch zada hi assan bana diya. Thanks a lot bhaiya

[ashcreations]

Homework Answer
Total Drawings = Rs. 1, 20, 000
Hence, Interest on Drawings =
10/100 × 1, 20, 000 × 5.5/12 = Rs. 5500

[kenwinmonthero]

10:28 Formula for calculating the interest for drawing is (total product x rate of interest x ¹/¹²

[tausifafridi]

Sir plzz push these chapter as fast as you can our terminals are too close.. 🙏 loving your videos with more clarity and perfection..best version of you than ever..!!