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प्रश्न
Menon and Thomas are partners in a firm. They share profits equally. Their monthly drawings are Rs 2,000 each. Interest on drawings is to be charged @ 10% p.a. Calculate interest on Menon’s drawings for the year 2006, assuming that money is withdrawn:
- at the beginning of every month,
- at the middle of every month, and
- at the end of every month.
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उत्तर
Case (i)
If they withdraw money in the beginning of each month
Interest of drawings = `"Total drawings" × "Rate" × 13/(2 xx 12)`
Menon’s = `24,000 × 10/100 xx 13/(2 xx 12) = "Rs" 1300`
Thomas’s = `24,000 × 10/100 xx 13/ (2xx12) = "Rs" 1300`
Case (ii)
If they withdraw in the middle of every month
Interest on Drawings = `"Total drawings" × 10/100 xx 6/12`
Menon’s = `24,000 × 10/100 xx 6/12 = "Rs" 1200`
Thomas’s = `24,000 × 10/100 xx 6/12 = "Rs" 1200`
Case (iii)
If they withdraw at the end of every month.
Interest on drawings = `"Total drawings" × "Rate"/100 xx 11/(2 xx 12)`
Menon’s = `24,000 × 10/100 xx 11/(2 xx 12) = "Rs" 1100`
Thomas’s = `24,000 × 10/100 xx 11/(2 xx 12) = "Rs" 1100`
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संबंधित प्रश्न
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(i) He should be given interest @ 10% per annum on capital and loan;
(ii) Profit should be distributed in proportion of capital;
Dhiman Claims:
(i) Profits should be distributed equally;
(ii) He should be allowed Rs 2,000 p.m. as remuneration for the period he managed the business, in the absence of Harshad;
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|
Liabilities |
Amount (Rs.) |
Amount (Rs.) |
Assets |
Amount (Rs.) |
Amount (Rs.) |
|
Mannu’s Capital |
30,000 |
40,000 | Drawings: | 6,000 | |
|
Shristhi’s Capital |
10,000 |
Mannu | 4,000 | ||
| Shristhi | 2,000 | ||||
| Other Assets | 34,000 | ||||
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| S. No. | Particulars | Amount (₹) |
| 1. | Gain on sale of fixed tangible assets | 12,50,000 |
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|
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| Particulars | (₹) | Particulars | (₹) |
| To Interest on Capital | By Profit & loss account (After manager’s commission) | ___(2)___ | |
| Richa | ______ | ||
| Anmol | ______ | ||
| To Anmol’s Salary a/c | 12,500 | ||
| To Profit transferred to: | |||
| Richa’s Capital A/C (1) | ___(1)___ | ||
| Anmol’s Capital A/c | ______ | ||
| ______ | ______ |
The amount to be reflected in blank (2) will be:
