A and B are partners sharing profits and losses in the ratio of 2:1. A

1.	A and B are partners sharing profits and losses in the ratio of 2:1. A withdraws Rs.1500 at the beginning of each month and B withdrew Rs. 2000 at the end of each month for 12 months. Interest on drawings was charged @ 6% p.a. Calculate the interest on drawings of A and B for the year ended 31st December 2009.
Answer» Interest on Drawings For A = Total drawings of the year x rate/100 x Average calculated period = (18,000 x 6/100) x (13/2 x 1/12) =585 For B = (24,000 x 6/100) x (11/2 x 1/12) =660

A and B are partners sharing profits and losses in the ratio of 2:1. A withdraws Rs.1500 at the beginning of each month and B withdrew Rs. 2000 at the end of each month for 12 months. Interest on drawings was charged @ 6% p.a. Calculate the interest on drawings of A and B for the year ended 31st December 2009.

Answer»

Interest on Drawings

For A = Total drawings of the year x rate/100 x Average calculated period

= (18,000 x 6/100) x (13/2 x 1/12) =585

For B = (24,000 x 6/100) x (11/2 x 1/12) =660