Rakesh and Roshan are partners, sharing profits in the ratio of 3 : 2

1.	Rakesh and Roshan are partners, sharing profits in the ratio of 3 : 2 with capitals of Rs 40,000 and Rs 30,000, respectively. They withdrew from the firm the following amounts, for their personal use RakeshMonthAmt. (Rs)May 31, 2006600June 30, 2006500August 31, 20061,000November 1, 2006400December 31, 20061,500January 31, 2007300March 1, 2007700RohanAt the beginning of each month400 Interest is to be charged 6% pa. Calculate interest on drawings, assuming that book of accounts are closed on March 31, 2007, every year.
Answer» Rakesh and Roshan are partners, sharing profits in the ratio of 3 : 2 with capitals of Rs 40,000 and Rs 30,000, respectively. They withdrew from the firm the following amounts, for their personal use $\begin{matrix} Rakesh & Month & Amt. (Rs) May 31, 2006 & 600 June 30, 2006 & 500 August 31, 2006 & 1, 000 November 1, 2006 & 400 December 31, 2006 & 1, 500 January 31, 2007 & 300 March 1, 2007 & 700 Rohan & At the beginning of each month & 400 \end{matrix}$ Interest is to be charged 6% pa. Calculate interest on drawings, assuming that book of accounts are closed on March 31, 2007, every year.

Rakesh and Roshan are partners, sharing profits in the ratio of 3 : 2 with capitals of Rs 40,000 and Rs 30,000, respectively. They withdrew from the firm the following amounts, for their personal use RakeshMonthAmt. (Rs)May 31, 2006600June 30, 2006500August 31, 20061,000November 1, 2006400December 31, 20061,500January 31, 2007300March 1, 2007700RohanAt the beginning of each month400 Interest is to be charged 6% pa. Calculate interest on drawings, assuming that book of accounts are closed on March 31, 2007, every year.

Answer»

Rakesh and Roshan are partners, sharing profits in the ratio of 3 : 2 with capitals of Rs 40,000 and Rs 30,000, respectively. They withdrew from the firm the following amounts, for their personal use

$\begin{matrix} Rakesh & Month & Amt. (Rs) May 31, 2006 & 600 June 30, 2006 & 500 August 31, 2006 & 1, 000 November 1, 2006 & 400 December 31, 2006 & 1, 500 January 31, 2007 & 300 March 1, 2007 & 700 Rohan & At the beginning of each month & 400 \end{matrix}$

Interest is to be charged 6% pa. Calculate interest on drawings, assuming that book of accounts are closed on March 31, 2007, every year.

Discussion

No Comment Found

Related InterviewSolutions

Reply to Comment