When the fixed amount is withdrawn at the end of each quarter, interest on drawing will be calculated for _______ Option 1: 7 1/2 months Option 2: 4 1/2 months Option 3: 6 months Option 4: 6 1/2 months

The answer is '4 1/2 months'. View full solution:

CUET Accountancy - When the fixed amount is withdrawn at the end of each quarter, interest on drawing will be calculated for _______ | PYQs + Solutions

CUET Accountancy 2022 15 July Shift 2

Partnership

Easy

7 1/2 months

4 1/2 months

6 months

6 1/2 months

✅ Correct Option: 2

Related questions:

26 May Shift 2

Neha contributed Rs. 30,000 and Saloni Rs. 90,000 as capital. What will be Saloni's share in profits if the partnership agreement is silent?

27 May Shift 1

Calculate interest on drawing if Ram withdrew Rs. 3,000 per month at the beginning of each month for the whole year, if interest on drawing is charged @ 9 % per annum.

26 May Shift 2

Match List-I with List-II

List-I	List-II
(A) Bank (fresh capital introduced)	(I) Debit side of Partner's Current Account
(B) Interest on drawings	(II) Debit side of Partner's Capital Account
(C) Bank (permanent withdrawal of capital)	(III) Credit side of Partner's Current Account
(D) Commission	(IV) Credit side of Partner's Capital Account

Choose the correct answer from the options given below:

CUET Accountancy 2022 15 July Shift 2 PYQs

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