| Class-12th Accountancy | Ch:- 1 | Accounting Fundamentals | Q.N:- 26,27,28,29 & 30 | D.K GOEL |

| Class-12th Accountancy | Ch:- 1 | Accounting Fundamentals | Q.N:- 26,27,28,29 & 30 | D.K GOEL | Q. 26. Calculate interest on A's drawings : (i) If he has withdrawn ₹60,000 on 1st October, 2022 and rate of interest on drawings is 8% per annum. (ii) If he has withdrawn ₹60,000 on 1st October, 2022 and rate of interest on drawings is 8%. Books are closed on 31st March, 2023. [Ans. Case (i) 2,400; Case (ii) ₹4,800.] Q. 27. Current Account's Balances as on 1st April, 2021 were as :- Amit: 5,000 (Cr.), Namit: ₹2,000 (Cr.) and Ruchi: ₹1,000 (Dr.). Profit sharing ratio was -:2:1. Amit gets a monthly salary of ₹1,500. Amit draws 2,000 on the first day of each month and Namit draws ₹2,000 on the ast date of each month while Ruchi draws 6,000 at the end of each quarter. Interest on drawings is to be charged @ 12% p.a. Profits for the year ended 31st March, 2022 before adjustments of interest on drawings and of salary were 74,040. Show Current Accounts. Ans. Divisible Profits ₹60,000; Current A/c Amit ₹27,440 (Cr.); Namit 3,320 Dr.); Ruchi 16,080 (Dr.)] Q. 28. Calculate the amount of Era's monthly drawings for the year ended 31st March, 2023 in the following cases when interest is charged on drawings @ 10% p.a. (i) When she withdrew a fixed amount in the beginning of each month and interest on drawings is ₹5,200. (ii) When she withdrew a fixed amount at the end of each month and interest on drawings is 6,600. Ans. Case (i) ₹8,000 per month; Case (ii) 12,000 per month.] Q. 29. Sneha is a partner in a firm. Calculate the amount of Sneha's quarterly drawings for the year ended 31st March, 2023, in the following cases when interest is charged @ 10% p.a. (i) When she withdrew a fixed amount in the beginning of each quarter and interest on drawings is ₹3,750. (ii) When she withdrew a fixed amount at the end of each quarter and interest on drawings is 3,000. [Ans. Case (i) ₹15,000 per quarter; Case (ii) ₹20,000 per quarter.] Q. 30. (i) Anamika and Monika are partners in a firm. Anamika withdrew ₹25,000 at the end of each month and interest on drawings was calculated 8,250 at the end of the year. What is the rate of interest on drawings? (ii) Shruti and Gayatri are partenrs in a firm. Shruti withdrew ₹60,000 at the end of each quarter and interest on drawings was calculated ₹6,300 at the end of the year. What is the rate of interest on drawings? [Ans. Case (i) 6% p.a. and Case (ii) 7% p.a.]