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Give names of the methods used to calculate interest on drawings. - Accounts

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Question

Give names of the methods used to calculate interest on drawings.

Very Short Answer
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Solution

The two main methods used to calculate interest on drawings are:

  • Fixed amount method
  • Average period method
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Chapter 1: Accounting for Partnership Firms - Fundamentals - SHORT ANSWER QUESTIONS [Page 1.131]

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D. K. Goel Accountancy Volume 1 and 2 [English] Class 12 ISC
Chapter 1 Accounting for Partnership Firms - Fundamentals
SHORT ANSWER QUESTIONS | Q 44. ii. | Page 1.131
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