DK Goel Solutions Q 21 Chapter 1 Accounting for Partnership Firms-Fundamentals Class 12 CBSE [2023-24]
Step-by-step solution of Question 21, Chapter 1 Accounting for Partnership Firms – Fundamentals, DK Goel Class 12 Accountancy 2023-24 for the CBSE Board.
Question 21
(A) Mr. Ashok Gupta is a partner in a firm. He withdrew the following amounts during the year ended 31st March, 2022 :—
- April 30 — ₹ 8,000
- June 30 — ₹ 6,000
- Sept. 30 — ₹ 5,000
- Dec. 31 — ₹ 12,000
- Jan. 31 — ₹ 10,000
Calculate interest on drawings @ 9% p.a. for the year ended on 31st March, 2022.
(B) A is a partner in a firm. During the year ended 31st March, 2022, A’s drawings were :
- 1st June — ₹ 1,000
- 1st August — ₹ 750
- 1st October — ₹ 1,250
- 1st December — ₹ 500
- 1st February — ₹ 500
Interest on drawings is charged @ 10% per annum. Calculate interest on drawings of A for the year ended 31st March, 2022.
Solution
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About this solution
This is Chapter 1 Accounting for Partnership Firms – Fundamentals of DK Goel For 2024 Examinations.
Written by Vijay Adarsh, teaching commerce since 2003 to Class 11, Class 12, B.Com, CA, CS and CMA students.
We have solved all the practical questions in this book and explained them Step by Step in detail with clear working notes.
Also, we have followed the proper format and workings which are required as per CBSE Guidelines. Just follow our presentation of solutions and score good marks in the Accountancy Board Exam.
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