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प्रश्न
A, B and C are partners, their partnership deed provides for interest on drawings at 8% per annum. B withdrew a fixed amount in the middle of every month, and his interest on drawings amounted to ₹ 4,800 at the end of the year. What was the amount of his monthly drawings?
विकल्प
₹ 10,000
₹ 5,000
₹ 1,20,000
₹ 48,000
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उत्तर
₹ 10,000
Explanation:
Interest on Drawings = `"Total Drawings" xx "Rate"/100 xx 6/12`
4,800 = `"Total Drawings" xx 8/100 xx 6/12`
Total Drawings = `(4,800 xx 100 xx 12)/(8 xx 6)`
= `(57,60,000)/48`
= 1,20,000
The amount of monthly drawings is determined by dividing the total drawings by the number of months in a year.
Monthly Drawings = `"Total Drawings"/12`
= `(1,20,000)/12`
= 10,000
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संबंधित प्रश्न
In the absence of partnership deed, specify the rules relating to the following:
(i) Sharing of profits and losses.
(ii) Interest on partner’s capital.
(iii) Interest on Partner’s drawings.
(iv) Interest on Partner’s loan
(v) Salary to a partner.
Discuss the main provisions of the Indian Partnership Act, 1932 that are relevant to partnership accounts if there is no partnership deed.
State whether the following statement is True or False with reasons.
If the partnership deed is silent, partners share profits and losses in proportion to their capital.
Partnership Deed is an _____ of Partnership.
What is the meaning of Partnership Deed?
What are the contents of the partnership deed?
Consider the following statement.
Statement 1: "Partner is entitled to claim any interest on the amount of capital contributed by him in the firm as a matter of right".
Statement 2: "Interest can be allowed when it is expressly agreed to by the partners".
Mohan and Sham are partners in a firm. State whether the claim is valid if the partnership agreement is silent in the following matters:
"Mohan is an active partner. He wants a salary of Rs. 10,000 per year".
Partners share profit & losses in ______ ratio in the absense of partnership deed.
Partners share profit & losses in ______ ratio in the absense of partnership deed.
