Interest on drawing

Data Analytics and Data Science course in Dehradun Uttarakhand

Data Analytics and Data Science institute in Dehradun Uttarakhand

Data Analytics and Data Science course in Dehradun Uttarakhand

Data Analytics and Data Science institute in Dehradun Uttarakhand

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Interest on drawing

6Oct, 2021

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If a fixed amount is withdrawn on the last day of every quarter of a calendar year, the interest on the total amount of drawings will be calculated for __________.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's up