Interest on drawing Welcome to your Interest on drawing If a fixed amount is withdrawn on the last day of every quarter of a calendar year, the interest on the total amount of drawings will be calculated for __________. 4.5 months 5.5 months 6 months 6.5 months Interest on drawings is _________. Expenditure for the business Expense for the business Gain for the business Loss for the business Charulata is a partner in a firm. She withdrew ₹10,000 in each quarter during the year ended 31st March, 2019. Interest on her drawings @ 9% p.a. will be: ₹1,350 ₹2,250 ₹900 ₹1,800 A and B are partners. According to Profit and Loss Account, the net profit for the year is ₹2,00,000. The total interest on partner’s drawings is ₹1,000. As salary is ₹40,000 per year and B’s salary is ₹3,000 per month. The net profit as per Profit and Loss Appropriation Account will be : ₹1,23,000 ₹1,25,000 ₹1,56,000 ₹1,58,000 Time is Up! Time's up
