CUET Accountancy - Aashish withdrew Rs. 10,000 per month from the firm for his personal use during the year ending March 31, 2017. What will be the amount of interest if the amount is withdrawn at the beginning of each month and rate of interest on drawings is 8% per annum? | PYQs + Solutions

CUET Accountancy 2025 30 May Shift 2

Partnership

Medium

common

Rs. 4,800.

Rs. 5,000.

Rs. 5,200.

Rs. 4,200.

✅ Correct Option: 3

Related questions:

15 May Shift 2

Match List-I with List-II

Match the accounts with their purpose

List-I	List-II
(A) Profit and Loss adjustment A/c	(I) Changes in amount of capital
(B) Profit and loss appropriation A/c	(II) Generally no change in amount of capital
(C) Fixed capital A/c	(III) Errors and omissions found after preparation of final A/c
(D) Fluctuating capital method	(IV) Extention of Profit & loss A/c

Choose the correct answer from the options given below:

16 May Shift 1

Following are considered as appropriations out of profits

(A) Rent paid to partners

(B) Interest on capital

(D) Commission allowed to partners

Choose the correct answer from the options given below:

22 May Shift 1

Yadu, Madhu and Vidu are partners, sharing profit and losses in the ratio of 2:2:1. Their fixed capitals on April 01, 2018 were:

Yadu Rs. 5,00,000, Madhu Rs. 4,00,000 and Vidu is 3,50,000.

As per the partnership deed, partners are entitled to interest on capital @5% p.a. and Yadu has to be paid a salary of Rs. 2000 per month. The net loss of the firm as per profit and loss account for the year ending March 31, 2019, amounted to Rs. 75,000. On the basis of the profit and loss appropriation account, Partners' distribution of loss would be:

CUET Accountancy 2025 30 May Shift 2 PYQs

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