Solution of Q 49 Fundamentals of Partnership Firm TS Grewal 2023-24 [CBSE]
Step-by-step solution of Question 49, Chapter 1 Accounting for Partnership Firms – Fundamentals, TS Grewal Class 12 Accountancy 2023-24 for the CBSE Board.
Question 49
Piyush, Harmesh and Atul are partners. Each partner regularly withdrew ₹20,000 per month as given below:
- (a) Piyush withdrew in the beginning of the month;
- (b) Harmesh withdrew in the middle of the month; and
- (c) Atul withdrew at the end of the month.
Interest on drawings charged for the year ended 31st March, 2023 was ₹15,600, ₹14,400 and ₹13,200 respectively.
Determine the rate of interest charged on drawings.
Solution
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About this solution
This is Chapter 1 Accounting for Partnership Firms – Fundamentals of TS Grewal Edition 2023-24.
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 Accountancy Board Exam.
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