If a fixed amount is withdrawn on the first day of every month, for what period the interest on total drawings will be calculated? Post category:Accountancy Reading time:1 mins read SOLUTION 6.5 months. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostWhy does the Fixed Capital Account of partners show credit balance even when the firm suffers losses year after year? (C.B.S.E. 2020, Mumbai, Chennai) Next PostIf a fixed amount withdrawn on 15th day of every month, for what period the interest on total Drawings will be calculated? You Might Also Like P, Q, R and S were partners in a firm sharing profits in the ratio of 5 : 3 : 1 : 1. On 1st January, 2019, S retired from the firm. On S’s retirement, goodwill of the firm was valued at Rs. 4,20,000. New profit-sharing ratio among P, Q and R will be 4 : 3 : 3. Showing your working notes clearly, pass necessary Journal entry for the treatment of goodwill in the books of the firm on S’s retirement. August 3, 2022 A, B and C are partners decided that no interest on drawings is to be charged to any partner. But after one year ‘C’ wants that interest on drawings should be charged to every partner. State how ‘C’ can do this. September 26, 2022 How does the factor ‘Efficiency of Management’ affect the goodwill of firm? September 26, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
P, Q, R and S were partners in a firm sharing profits in the ratio of 5 : 3 : 1 : 1. On 1st January, 2019, S retired from the firm. On S’s retirement, goodwill of the firm was valued at Rs. 4,20,000. New profit-sharing ratio among P, Q and R will be 4 : 3 : 3. Showing your working notes clearly, pass necessary Journal entry for the treatment of goodwill in the books of the firm on S’s retirement. August 3, 2022
A, B and C are partners decided that no interest on drawings is to be charged to any partner. But after one year ‘C’ wants that interest on drawings should be charged to every partner. State how ‘C’ can do this. September 26, 2022
