Question : What time would be taken into consideration if monthly amount is drawn as drawings at the beginning of each month?
Option 1: 7 months
Option 2: 6 months
Option 3: 5 months
Option 4: 6.5 months
Correct Answer: 6.5 months
Solution : Time Period = (Time left after 1st drawings + Time left after last drawings)/2 = (12 + 1)/2 = 6.5 months. Hence, the correct option is 4.
Question : When drawings are made at the end of every month of certain amount, then interest will be calculated on total drawings for:
Question : A partner, Gaurav, withdrew Rs.12,000 in the beginning of the each quarter during the year. Interest on drawings @ 8% chargeable to him will be:
Question : Current Account of the partners should be opened when capital are:
Question : Interest on partner's drawings is credited to:
Question : Profit and Loss Appropriation Account is prepared to
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