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The capital accounts of Tisha and Divya showed credit balances of 10,00,000 and 7,50,000 respectafter taking into account drawings and net profit of * 5,00,000. The drawings of the partners during the year 2020-21 were:(i) Tisha withdrew * 25,000 at the end of each quarter.(ii) Divya's drawings were:31st May, 202020,0001st November, 202017,5001st February, 202112,500Calculate interest on partners' capitals @ 10% p.a. and interest on partners' drawings @ 6% p.a. for the year ended 31st March, 2021. |
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Answer» Answer: The capital accounts of Tisha and Divya showed credit balances of 10,00,000 and 7,50,000 respect after taking into account drawings and net profit of * 5,00,000. The drawings of the partners during the YEAR 2020-21 were: (i) Tisha withdrew * 25,000 at the end of each QUARTER. (II) Divya's drawings were: 31st May, 2020 20,000 1st November, 2020 17,500 1st February, 2021 12,500 Calculate interest on partners' capitals @ 10% p.a. and interest on partners' drawings @ 6% p.a. for the year ENDED 31st March, 2021. |
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