# 12th Ts grewal 2021-22 Question 36 to 40 Accounting for partnership firm- fundamentals

#### Question 36:

Brij and Mohan are partners in a firm. They withdrew ` 48,000 and ` 36,000 respectively during the year evenly in the middle of every month. According to the partnership agreement, interest on drawings is to be charged @ 10% p.a.
Calculate interest on drawings of the partners using the appropriate formula.

Since, the drawings are made evenly at the middle of every month, therefore interest on drawings is calculated for a period of six months.

Interest on Brij's Drawings= `. 48,000×10/100×6/12= ` 2,400

Interest on Mohan's Drawings= `. 36,000×10/100×6/12= ` 1,800

#### Question 37;

Dev withdrew  `10 000 on 15th day of every month Interest on drawings was to be charged @ 12% per annum. Calculate interest oh Dev's Drawings. (CBSC 2019)

Interest on Dev’s Drawings=10,000×12=1,20,000×12/100×6/12=7,200

Note ; Interest on drawing will be calculated for 6 month as average ,because same amount withdrawn in the middle of every month during the year

#### Question 38:

One of the partners in a partnership firm has withdrawn  ` 9,000 at the end of each quarter, throughout the year. Calculate interest on drawings at the rate of 6% per annum.

Amount of Drawings =  ` 9,000 per quarter
Annual Drawings=
` (9,000 × 4) =  ` 36,000
Rate of Interest on Drawings = 6% p.a.

 Average Period = (Months left after the first drawings + Months left after the last drawings)/2 = (9 + 0)/2 = 4.5 months Interest on Drawings = (Annual drawings × Rate of Drawings/100 × Average Period/12) = (36,000 × 6/100 × 4.5/12) =  ` 810

#### Question 39:

A and B are partners sharing profits equally. A drew regularly `4,000 in the beginning of every month for six months ended 30th September, 2020. Calculate interest on drawings @ 5% p.a. for a period of six months.

#### Question 40:

A and B are partners sharing profits equally. A drew regularly  ` 4,000 at the end of every month for six months ended 30th September, 2020. Calculate interest on drawings @ 5% p.a. for a period of six months.