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A and B are partners in a firm. Their monthly drawings are rs.2000 each .Interest on drawings is to be charged @10�ch. calculate interest on A'S drawings for the year 2012-13 assuming drawings are made (I) in the beginning of every month(ii) in the middle of every month(iii) at the end of every month
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A and B are partners in a firm. Their monthly drawings are rs.2000 eac...
Calculation of Interest on A's Drawings for the Year 2012-13
Basic Information:
- A and B are partners in a firm.
- Their monthly drawings are rs.2000 each.
- Interest on drawings is to be charged @10% p.a.
I. Drawings made in the beginning of every month
- A's monthly drawings = Rs. 2000
- A's total drawings for the year 2012-13 = Rs. 24,000 (12 months x Rs. 2000)
- Interest on A's drawings @10% p.a. for the year 2012-13 = Rs. 2400 (Rs. 24,000 x 10%)
- Interest on A's drawings per month = Rs. 200 (Rs. 2400 / 12)
II. Drawings made in the middle of every month
- A's monthly drawings = Rs. 2000
- A's total drawings for the year 2012-13 = Rs. 24,000 (12 months x Rs. 2000)
- Interest on A's drawings @10% p.a. for the year 2012-13 = Rs. 2400 (Rs. 24,000 x 10%)
- Interest on A's drawings per month = Rs. 200 (Rs. 2400 / 12)
- However, since A's drawings are made in the middle of every month, interest will be charged for half a month only.
- Therefore, interest on A's drawings per month = Rs. 100 (Rs. 200 / 2)
III. Drawings made at the end of every month
- A's monthly drawings = Rs. 2000
- A's total drawings for the year 2012-13 = Rs. 24,000 (12 months x Rs. 2000)
- Interest on A's drawings @10% p.a. for the year 2012-13 = Rs. 2400 (Rs. 24,000 x 10%)
- Interest on A's drawings per month = Rs. 200 (Rs. 2400 / 12)
- However, since A's drawings are made at the end of every month, interest will be charged for the full month.
- Therefore, interest on A's drawings per month = Rs. 200 (Rs. 2400 / 12)
In conclusion, the interest on A's drawings for the year 2012-13 will vary based on the timing of the drawings. If the drawings are made at the beginning or middle of the month, the interest per month will be lower compared to drawings made at the end of the month.
Basic Information:
- A and B are partners in a firm.
- Their monthly drawings are rs.2000 each.
- Interest on drawings is to be charged @10% p.a.
I. Drawings made in the beginning of every month
- A's monthly drawings = Rs. 2000
- A's total drawings for the year 2012-13 = Rs. 24,000 (12 months x Rs. 2000)
- Interest on A's drawings @10% p.a. for the year 2012-13 = Rs. 2400 (Rs. 24,000 x 10%)
- Interest on A's drawings per month = Rs. 200 (Rs. 2400 / 12)
II. Drawings made in the middle of every month
- A's monthly drawings = Rs. 2000
- A's total drawings for the year 2012-13 = Rs. 24,000 (12 months x Rs. 2000)
- Interest on A's drawings @10% p.a. for the year 2012-13 = Rs. 2400 (Rs. 24,000 x 10%)
- Interest on A's drawings per month = Rs. 200 (Rs. 2400 / 12)
- However, since A's drawings are made in the middle of every month, interest will be charged for half a month only.
- Therefore, interest on A's drawings per month = Rs. 100 (Rs. 200 / 2)
III. Drawings made at the end of every month
- A's monthly drawings = Rs. 2000
- A's total drawings for the year 2012-13 = Rs. 24,000 (12 months x Rs. 2000)
- Interest on A's drawings @10% p.a. for the year 2012-13 = Rs. 2400 (Rs. 24,000 x 10%)
- Interest on A's drawings per month = Rs. 200 (Rs. 2400 / 12)
- However, since A's drawings are made at the end of every month, interest will be charged for the full month.
- Therefore, interest on A's drawings per month = Rs. 200 (Rs. 2400 / 12)
In conclusion, the interest on A's drawings for the year 2012-13 will vary based on the timing of the drawings. If the drawings are made at the beginning or middle of the month, the interest per month will be lower compared to drawings made at the end of the month.
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A and B are partners in a firm. Their monthly drawings are rs.2000 eac...
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A and B are partners in a firm. Their monthly drawings are rs.2000 each .Interest on drawings is to be charged @10�ch. calculate interest on A'S drawings for the year 2012-13 assuming drawings are made (I) in the beginning of every month(ii) in the middle of every month(iii) at the end of every month Related: NCERT Solution (Part - 1) - Accounting for Partnership : Basic Concepts?
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A and B are partners in a firm. Their monthly drawings are rs.2000 each .Interest on drawings is to be charged @10�ch. calculate interest on A'S drawings for the year 2012-13 assuming drawings are made (I) in the beginning of every month(ii) in the middle of every month(iii) at the end of every month Related: NCERT Solution (Part - 1) - Accounting for Partnership : Basic Concepts? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about A and B are partners in a firm. Their monthly drawings are rs.2000 each .Interest on drawings is to be charged @10�ch. calculate interest on A'S drawings for the year 2012-13 assuming drawings are made (I) in the beginning of every month(ii) in the middle of every month(iii) at the end of every month Related: NCERT Solution (Part - 1) - Accounting for Partnership : Basic Concepts? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A and B are partners in a firm. Their monthly drawings are rs.2000 each .Interest on drawings is to be charged @10�ch. calculate interest on A'S drawings for the year 2012-13 assuming drawings are made (I) in the beginning of every month(ii) in the middle of every month(iii) at the end of every month Related: NCERT Solution (Part - 1) - Accounting for Partnership : Basic Concepts?.
A and B are partners in a firm. Their monthly drawings are rs.2000 each .Interest on drawings is to be charged @10�ch. calculate interest on A'S drawings for the year 2012-13 assuming drawings are made (I) in the beginning of every month(ii) in the middle of every month(iii) at the end of every month Related: NCERT Solution (Part - 1) - Accounting for Partnership : Basic Concepts? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about A and B are partners in a firm. Their monthly drawings are rs.2000 each .Interest on drawings is to be charged @10�ch. calculate interest on A'S drawings for the year 2012-13 assuming drawings are made (I) in the beginning of every month(ii) in the middle of every month(iii) at the end of every month Related: NCERT Solution (Part - 1) - Accounting for Partnership : Basic Concepts? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A and B are partners in a firm. Their monthly drawings are rs.2000 each .Interest on drawings is to be charged @10�ch. calculate interest on A'S drawings for the year 2012-13 assuming drawings are made (I) in the beginning of every month(ii) in the middle of every month(iii) at the end of every month Related: NCERT Solution (Part - 1) - Accounting for Partnership : Basic Concepts?.
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A and B are partners in a firm. Their monthly drawings are rs.2000 each .Interest on drawings is to be charged @10�ch. calculate interest on A'S drawings for the year 2012-13 assuming drawings are made (I) in the beginning of every month(ii) in the middle of every month(iii) at the end of every month Related: NCERT Solution (Part - 1) - Accounting for Partnership : Basic Concepts?, a detailed solution for A and B are partners in a firm. Their monthly drawings are rs.2000 each .Interest on drawings is to be charged @10�ch. calculate interest on A'S drawings for the year 2012-13 assuming drawings are made (I) in the beginning of every month(ii) in the middle of every month(iii) at the end of every month Related: NCERT Solution (Part - 1) - Accounting for Partnership : Basic Concepts? has been provided alongside types of A and B are partners in a firm. Their monthly drawings are rs.2000 each .Interest on drawings is to be charged @10�ch. calculate interest on A'S drawings for the year 2012-13 assuming drawings are made (I) in the beginning of every month(ii) in the middle of every month(iii) at the end of every month Related: NCERT Solution (Part - 1) - Accounting for Partnership : Basic Concepts? theory, EduRev gives you an
ample number of questions to practice A and B are partners in a firm. Their monthly drawings are rs.2000 each .Interest on drawings is to be charged @10�ch. calculate interest on A'S drawings for the year 2012-13 assuming drawings are made (I) in the beginning of every month(ii) in the middle of every month(iii) at the end of every month Related: NCERT Solution (Part - 1) - Accounting for Partnership : Basic Concepts? tests, examples and also practice Commerce tests.
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