Accountancy- Accounting for Partnership Firms - Fundamentals Set 1

Anu and Tanu are equal partners with fixed capitals of Rs. 2,00,000 and Rs. 1,00,000 respectively. After closing the accounts for the year ending 31st

A partner withdraws from firm Rs. 7,000 at the end of each month. At the rate of 6% per annum total interest will be :

A partner draws Rs. 2,000 each on 1st April 2018, 1st July 2018, 1st October, 2018 and 1st January 2019. For the year ended 31st March, 2019 interest on drawings @ 8% per annum will be :

A partner withdraws Rs. 8,000 each on 1st April and 1st Oct. Interest on his drawings @ 6% p.a. on 31 st March will be :

Z is a partner in a firm. He withdrew regularly ?2,000 every month for the six months ending 31st March, 2019. If interest on drawings is charged @ 8% p.a. the interest charged will be :

Y is a partner in a firm. He withdrew regularly Rs. 3,000 at the end of every month for the six months ending 31st March, 2019. If interest on drawings is charged @ 10% p.a. the interest charged will be :

X is a partner in a firm. He withdrew regularly Rs. 1,000 at the beginning of every month for the six months ending 31st March, 2019. If interest on drawings is charged @ 8% p.a. the interest charged will be :

If equal amount is withdrawn by a partner in each month during a period of 6 months, interest on the total amount will be charged for

If equal amount is withdrawn by a partner in the end of each month during a period of 6 months, interest on the total amount will be charged for

If equal amount is withdrawn by a partner in the beginning of each month during a period of 6 months, interest on the total amount will be charged for