Plz solve fast....
Dear Student
Regards.
| Partner's Current A/c | |||||||
| Particulars | Amit | Namit | Ruchi | Particulars | Amit | Namit | Ruchi |
| Bal B/d | - | - | 1,000 | Balance b/d | 5,000 | 2,000 | 0 |
| Interest on Drawings | 1,560 | 1,320 | 1,080 | Salary | 18,000 | 0 | 0 |
| Drawings | 24,000 | 24,000 | 24,000 | ||||
| Profit and loss Appropriation | 30,000 | 20,000 | 10,000 | ||||
| Bal C/d | 27,440 | 0 | 0 | Bal C/d | 3,320 | 16,080 | |
| 53,000 | 25,320 | 26,080 | 53,000 | 25,320 | 26,080 | ||
| Calculation of Interest on Drawings | |||
| Amit | Namit | Ruchi | |
| Total Drawings | 24,000 | 24,000 | 24,000 |
| Rate | 12% | ||
| Average Time Period | 6.5 | 5.5 | 4.5 |
| Interest on Drawings | 1,560 | 1,320 | 1,080 |
| (24000 x 0.12 x 6.5/12) | (24000 x 0.12 x 5.5/12) | (24000 x 0.12 x 4.5/12) | |
Regards.